(Bloomberg) Peloton Interactive Inc. shares recovered from a drop of about 8% in pre-market on Tuesday after the company announced that it would sell $1 billion worth of stocks.
Goldman Sachs and JPMorgan would reportedly underwrite the deal, which is the first public offering since the company’s IPO of $29 per share.
Peloton has announced that Durable Capital Partners, TCV, and funds under T. Rowe Price Associates have expressed interest to participate in the share purchase.
Peloton shares dropped 45% after reviewing its revenue forecast by around $1 billion on November 4, citing low-profit margins and subscriber projections.
PTON: NASDAQ is currently up +5.13%.
