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Peloton files for IPO

Peloton Interactive Inc. on Aug. 27 filed a prospectus supplement with the U.S. Securities and Exchange Commission for its upcoming initial public offering.

The prospectus follows a confidential filing for an IPO in June.

In its latest filing, the home fitness equipment producer said it plans to raise $500 million of its class A common stock and will trade on the Nasdaq Global Select Market under the symbol PTON.

The price range for the offering is yet to be announced.

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

In the same filing, Peloton also reported its full-year 2019 earnings.

For the fiscal year ended June 30, Peloton's sales grew 110% to $915 million compared to $435 million in fiscal 2018. Net loss rose to $245.7 million from last year's $47.9 million.

Peloton's subscriber base grew to 511,202 from 245,667 during the fiscal year.