Baird's Investment Banking Group is pleased to announce the following transaction:

Date:
February 2021
Company:
Peloton Interactive, Inc.
Description:
Convertible Notes Offering
Sector(s):
Consumer
Baird served as a co-manager on this offering
$875.000 Million

Peloton Interactive, Inc. (“Peloton” or the “Company”) (Nasdaq: PTON) recently completed an offering of $875 million aggregate principal amount of 0% Convertible Senior Notes due 2026. Peloton also granted the initial purchasers of the notes the option to purchase up to an additional $125 million aggregate principal amount of the notes within a 13-day period from issuance. The Company intends to use the net proceeds to pay the cost of capped call transactions, repay outstanding debt and for other general corporate purposes.

Peloton is the largest interactive fitness platform in the world with a loyal community of over 4.4 million members as of December 31, 2020. The Company pioneered connected, technology-enabled fitness, and the streaming of immersive, instructor-led boutique classes to their members anytime, anywhere. Peloton makes fitness entertaining, approachable, effective, and convenient while fostering social connections that encourage their members to be the best versions of themselves. The Company defines a member as any individual who has a Peloton account through a paid Connected Fitness Subscription, or a paid Peloton Digital subscription. Peloton is incorporated in Delaware with principal executive offices located in New York.

For additional information about this transaction, please contact:

Matthew Tingler +1-312-609-4470
Joseph Pellegrini +1-704-553-6612
Sandy Walter +1-414-298-5118
John Bastian +1-312-609-7067
Ryan Engelhardt +1-414-298-2637
Robert Foster +44-20-7667-8309