Peloton Interactive Inc. announced that it has commenced an underwritten public offering of $1 billion of shares of its Class A common stock.

In addition, Peloton is expected to grant the underwriters of the offering a 30-day option to purchase up to an additional $150 million of shares of Class A common stock at the public offering price, less underwriting discounts, and commissions.

Entities affiliated with Durable Capital Partners LP and TCV, of which one of Peloton’s directors is a co-founder and general partner, and funds and accounts advised by T. Rowe Price Associates, Inc. have expressed an interest in purchasing shares of Class A common stock in the offering.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as representatives for the underwriters in the offering of Class A common stock.

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