Peloton plans to sell stock after executives earlier this month said there wasn’t a need to raise additional capital
Peloton Interactive Inc. on Tuesday announced a $1 billion stock offering, just weeks after the maker of connected fitness equipment said it didn’t need additional capital to weather wider-than-expected losses and slowing growth.
Peloton poured hundreds of millions of dollars into ramping up manufacturing to meet soaring demand during the pandemic as more people worked out at home. The company’s revenue more than doubled last year compared with 2019 despite product shortages and delays.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Peloton shares rise after company nets $1.07 billion in discounted stock salePeloton 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.
Read more »
Biden Signs $1.2 Trillion Infrastructure Bill—Here's Everything It Will Pay ForThe sweeping new bill includes $110 billion for roads and bridges, $65 billion to equip all Americans with broadband internet, $1 billion for the Great Lakes and much more.
Read more »
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.
Read more »
Former New Orleans mayor Landrieu to manage Biden's $1T planPresident Joe Biden has chosen a former New Orleans mayor, Mitch Landrieu, to supervise his $1 trillion infrastructure plan
Read more »
Biden and China's Xi hold 'expansive and substantive' virtual meetingPresident Joe Biden and Chinese leader Xi Jinping have started a virtual meeting that is likely to last several hours
Read more »
Heineken to Take Control of Distell, Namibia BreweriesBy Ian Walker Heineken NV said Monday that it has agreed to buy Distell Group Holdings Ltd. for around 2.2 billion euros ($2.52 billion) as part of a plan to...
Read more »