Peloton Interactive, Inc. (Nasdaq: PTON) today announced the pricing of $875.0 million aggregate principal amount of Convertible Senior Notes due 2026 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended. Peloton also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $125.0 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on February 11, 2021, subject to customary closing conditions, and is expected to result in approximately $854.6 million in net proceeds to Peloton after deducting the initial purchasers' discounts and commissions and estimated offering expenses payable by Peloton (assuming no exercise of the initial purchasers' option to purchase additional notes). The size of the offering was increased from the previously announced $600.0 million aggregate principal amount of the notes.