Peloton said it plans to sell roughly 23.9 million Class A shares at a public offering price of $46, netting the company about $1.07 billion.
Peloton said Tuesday it plans to sell roughly 23.9 million shares of its Class A common stock at a public offering price of $46, netting the company about $1.07 billion.
Stock offerings are often pursued by public companies to take advantage of a growing share price, but Peloton's market value has plunged this year.Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California.shares were rising Tuesday even after the company announced it was planning to raise $1.07 billion through a new stock offering that values its shares at a discount to their current trading price.
In its announcement Tuesday, the connected fitness equipment maker said the proceeds would be used for general corporate purposes, including the construction or expansion of facilities, acquisitions, and investments in new products and technologies. Peloton shares initially fell 7% in premarket trading Tuesday on the news, but were recently up more than 12%. The stock had closed Monday down 3.5% at $47.49 — slightly above the public offering price — after touching a 52-week low of $46.70 earlier in the day.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Burger King parent Restaurant Brands International buys Firehouse Subs for $1 billionBurger King parent Restaurant Brands International announced Monday it bought Firehouse Subs for $1 billion.
Weiterlesen »
Biden signs $1 trillion infrastructure bill into lawPresident Joe Biden signed into law a $1 trillion infrastructure bill at a White House ceremony on Monday that drew Democrats and Republicans who pushed the legislation through a deeply divided U.S. Congress.
Weiterlesen »
Biden signs historic $1-trillion bipartisan infrastructure billBiden said the legislation will overhaul the nation's infrastructure and boost the nation's economy, which has been battered by the COVID-19 pandemic.
Weiterlesen »
Fannie Mae, Freddie Mac to Back Home Loans of Nearly $1 Million as Prices SoarA scheduled increase in loan limits is a boon for borrowers but also stokes debate over the government’s role in the housing market.
Weiterlesen »
17 Movie Changes That Were Made During And After Production That Literally Cost $1 Million Or MoreAround $5 million was spent to reanimate Shrek scenes after Mike Myers changed Shrek’s accent.
Weiterlesen »
Elon Musk sells another $931 million of Tesla stockElon Musk sold another $931 million worth of stock, bringing his total sales of stock during the last six trading days to $7.8 billion.
Weiterlesen »