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Peloton prices IPO at $29 per share, on high end of range

Peloton Interactive Inc. on Sept. 25 priced its initial public offering of 40,000,000 class A common stock at $29 per share.

The New York-based home fitness equipment producer had proposed a price range of between $26 and $29 per share.

Peloton's shares are expected to begin trading on the Nasdaq Global Select Market under the symbol PTON, effective Sept. 26.

The company has also granted the underwriters an option to buy up to an additional 6,000,000 shares at the IPO price. The offering is expected to close on Sept. 30, subject to customary closing conditions.

Goldman Sachs & Co. and J.P. Morgan Securities LLC are the lead book-running managers for the proposed IPO.

In the same filing, the company also announced the sale of 3,448,275 additional class A common shares in a private placement to entities associated with existing shareholder TCV at the IPO price.