Fenwick-Led Peloton Gears Up For Potential $1.1B IPO

Law360 (September 11, 2019, 8:33 AM EDT) -- Home exercise startup Peloton Interactive Inc. set a price range for a highly anticipated initial public offering that could raise $1.1 billion, hoping to work up one of the year’s largest IPOs.

New York-based Peloton, represented by Fenwick & West LLP, said late Tuesday it plans to offer 40 million shares priced between $26 and $29, raising $1.1 billion at midpoint. Only five companies have raised more than $1 billion from IPOs this year, led by Uber’s $8.1 billion offering, though teeth-straightening company SmileDirectClub Inc. is also prepping an estimated $1.2 billion IPO.

If Peloton shares were to price at midpoint,...

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