<SEC-DOCUMENT>0001639825-21-000127.txt : 20210401
<SEC-HEADER>0001639825-21-000127.hdr.sgml : 20210401
<ACCEPTANCE-DATETIME>20210401161912
ACCESSION NUMBER:		0001639825-21-000127
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210401
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210401
DATE AS OF CHANGE:		20210401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PELOTON INTERACTIVE, INC.
		CENTRAL INDEX KEY:			0001639825
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3949]
		IRS NUMBER:				473533761
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39058
		FILM NUMBER:		21798285

	BUSINESS ADDRESS:	
		STREET 1:		C/O PELOTON INTERACTIVE, INC.
		STREET 2:		125 W. 25TH ST., 11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		866-679-9129

	MAIL ADDRESS:	
		STREET 1:		C/O PELOTON INTERACTIVE, INC.
		STREET 2:		125 W. 25TH ST., 11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Peloton Interactive, Inc.
		DATE OF NAME CHANGE:	20150416
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pton-form8xkprecorxclosing.htm
<DESCRIPTION>8-K
<TEXT>
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<title>Document</title></head><body><div id="id3935f7175804c66809e0e9beaa56782_1"></div><div style="min-height:36pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:139%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:139%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">WASHINGTON, D.C. 20549</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">_______________________________________________________</font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:139%">FORM 8-K</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">_______________________________________________________</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">CURRENT REPORT</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">Pursuant to Section 13 or 15(d) of the</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:139%">Securities Exchange Act of 1934</font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Date of Report (Date of earliest event reported)&#58; April 1, 2021</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">_______________________________________________________</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:22pt;font-weight:700;line-height:139%"> Peloton Interactive, Inc.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:139%"> (Exact name of Registrant as Specified in Its Charter)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">_______________________________________________________</font></div><div style="margin-bottom:7pt"><font><br></font></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:85.000%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Delaware</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">001-39058</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">47-3533761</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:2pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(State or Other Jurisdiction</font></div><div style="margin-bottom:2pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:120%">of Incorporation)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">(Commission File Number)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:2pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(IRS Employer</font></div><div style="margin-bottom:2pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Identification No.)</font></div></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">125 West 25th Street, 11th Floor </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">New York, New York </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">10001</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">(Address of Principal Executive Offices)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">(Zip Code)</font></td></tr></table></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Registrant&#8217;s Telephone Number, Including Area Code&#58; (917) 671-9198</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Not Applicable</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:700;line-height:139%">(Former Name or Former Address, if Changed Since Last Report)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">_______________________________________________________</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below)&#58;</font></div><div style="margin-top:9pt;padding-left:25pt;text-indent:-25pt"><font style="font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:139%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div><div style="margin-top:9pt;padding-left:25pt;text-indent:-25pt"><font style="font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:139%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div><div style="margin-top:9pt;padding-left:25pt;text-indent:-25pt"><font style="font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:139%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div><div style="margin-top:9pt;padding-left:25pt;text-indent:-25pt"><font style="font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:139%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div><div style="margin-bottom:13pt;margin-top:6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered pursuant to Section 12(b) of the Act&#58;</font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:85.138%"><tr><td style="width:1.0%"></td><td style="width:45.555%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.201%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:2pt;margin-top:2pt;padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Title of Each Class</font></div></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:2pt;margin-top:2pt;padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Trading Symbol</font></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:2pt;margin-top:2pt;padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Name of Each Exchange on Which Registered</font></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Class A Common Stock, $0.000025 par value per share</font></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:2pt;margin-top:2pt;padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PTON</font></div></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:2pt;margin-top:2pt;padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Nasdaq Stock Market LLC</font></div></td></tr></table></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;</font><font style="color:#000000;font-family:'Quivira',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#8201;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;</font><font style="color:#000000;font-family:'Quivira',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#8201;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">240.12b-2 of this chapter).</font></div><div style="margin-top:6pt;padding-left:360pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Emerging growth company&#160;</font><font style="font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:139%"></font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;</font><font style="font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:139%"></font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div><div><font><br></font></div></div></div><div id="id3935f7175804c66809e0e9beaa56782_4"></div><hr style="page-break-after:always"><div style="min-height:50.4pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div style="-sec-extract:summary;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 2.01. Completion of Acquisition or Disposition of Assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 1, 2021 (the &#8220;Closing Date&#8221;), Peloton Interactive, Inc., a Delaware corporation (&#8220;Peloton&#8221;) completed its previously announced acquisition of Precor Incorporated, a Delaware corporation, and certain related entities and assets (&#8220;Precor&#8221;) from Amer Sports Corporation, a Finnish corporation (the &#8220;Parent&#8221;) and certain of its subsidiaries (the &#8220;Acquisition&#8221;), pursuant to the terms of a Stock and Asset Purchase Agreement (&#8220;Purchase Agreement&#8221;) with the Parent. Under the terms of the Purchase Agreement, Peloton acquired Precor for $420.0&#160;million in cash (the &#8220;Consideration&#8221;). The Consideration paid at the Closing Date of the Acquisition was subject to customary adjustments for working capital, transaction expenses, cash and indebtedness.</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The foregoing description in this Item 2.01 of certain terms of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, which was filed as Exhibit 2.1 to the Quarterly Report on Form 10-Q filed by Peloton with the Securities and Exchange Commission on February 5, 2021 and is incorporated herein by reference. </font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 1, 2021, Peloton issued a press release announcing the closing of the Acquisition. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Item 9.01&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</font></div><div style="margin-bottom:10pt;margin-top:3pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(d) Exhibits.</font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.788%"><tr><td style="width:1.0%"></td><td style="width:9.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:84.196%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:3.75pt;padding-left:1.5pt;padding-right:1.5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:121%">Exhibit</font></div><div style="margin-bottom:1.5pt;padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:121%">Number</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit Title or Description</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">99.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1.5pt;margin-top:3.75pt;padding-right:2pt"><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="pton-precorclosing.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Press Release issued by Peloton, dated April </a><a href="pton-precorclosing.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">1</a><a href="pton-precorclosing.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">, 2021</a></font></div></td></tr></table></div><div><font><br></font></div><div style="height:50.4pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:50.4pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</font></div><div style="margin-top:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font></div><div style="margin-bottom:7pt"><font><br></font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.788%"><tr><td style="width:1.0%"></td><td style="width:44.161%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.306%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PELOTON INTERACTIVE, INC.</font></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:2pt;margin-top:2pt;padding-right:1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date&#58; April 1, 2021</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#47;s&#47; Hisao Kushi</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Hisao Kushi</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Chief Legal Officer</font></td></tr></table></div><div style="height:50.4pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div><div><font><br></font></div></div></div></body></html>
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<TYPE>EX-99.1
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<title>Document</title></head><body><div id="ic68511ab3b8b4a42a0de0c4b0b580a31_1"></div><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div style="margin-bottom:16.5pt"><font style="color:#666464;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:400;line-height:133%;text-decoration:underline">&#160;&#160;&#160;&#160;                                                         &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:14pt;font-weight:700;line-height:133%">PELOTON COMPLETES PRECOR ACQUISITION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:133%">With acquisition, Peloton will establish U.S. manufacturing footprint, and anticipates enhancing R&#38;D capabilities, and accelerating the growth of commercial verticals</font></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">New York, NY &#8211; April 1, 2021</font><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> -- </font><font style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Peloton</font><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (NASDAQ&#58;PTON), the leading interactive fitness platform, today announced that it has officially closed the acquisition of </font><font style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Precor</font><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence. With this acquisition, Peloton establishes its U.S. manufacturing capacity, anticipates boosting research and development capabilities with Precor's highly-skilled team and accelerating Peloton's penetration of the commercial market. Peloton plans to produce connected fitness products in the United States before the end of the calendar year 2021.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;This is a major milestone for Peloton and our global community,&#8221; said William Lynch, Peloton&#8217;s President. &#8220;We&#8217;ve spent the last few months learning more about Precor&#8217;s relentless focus on the customer experience and we&#8217;re now even more enthusiastic about welcoming this talented team to Peloton. Now with Peloton and Precor, we believe we&#8217;re even better positioned to achieve our goal of bringing the best experience in connected health and fitness to more people around the world.&#8221;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Precor President Rob Barker will continue to lead Precor and become CEO, Precor and General Manager, Peloton Commercial, reporting to Lynch.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;The next few months are going to be some of the most exciting as Precor and Peloton work together to build for the future and empower more people to live the lives they desire,&#8221; said Barker. &#8220;With Peloton Commercial, we expect we&#8217;ll be able to not only continue our relationship with our current customers, but scale the Peloton experience that millions of people have at home to even more hotels, campuses, and multifamily residences.&#8221; </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Transaction Details</font></div><div><font><br></font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Peloton acquired Precor for $420&#160;million in cash, subject to customary adjustments for working capital, transaction expenses, cash and indebtedness. The acquisition of Precor was announced on December 21, 2020. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Forward Looking Statement </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This press release contains &#8220;forward-looking&#8221; statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties. These forward-looking statements include, but are not limited to, statements related to the expected benefits of the transaction, including but not limited to, the expected acceleration of Peloton and Precor strategies, the expected enhancement in research and development capabilities and the expected acceleration in the penetration of Peloton&#8217;s commercial market&#59; any statements regarding Peloton&#8217;s future intention with Precor&#59; statements regarding the anticipated timing to produce connected fitness products in the United States&#59; and any other statements of expectation or belief&#59; and any statements of assumptions underlying any of the foregoing. You can identify these statements by the use of terminology such as &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;will&#8221;, &#8220;should,&#8221; &#8220;could&#8221;, &#8220;estimate&#8221;, &#8220;anticipate&#8221; or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements. Factors that might contribute to such differences include, among others, the risk of stockholder litigation in connection with the transaction&#59; the retention of Precor employees and Peloton's ability to successfully integrate the Precor business&#59; risks inherent in the achievement of anticipated synergies and the timing thereof&#59; our ability to attract and retain our connected fitness product and digital subscription base&#59; our limited operating history&#59; our ability to anticipate and satisfy consumer preferences&#59; the effects of the highly competitive market in which we operate&#59; market acceptance of our connected fitness products&#59; our ability to successfully develop and timely introduce new products and services&#59; our ability to accurately forecast consumer demand and adequately manage our inventory&#59; our ability to maintain the value and reputation of the Peloton brand&#59; a decrease in sales of our Bike&#59; the continued growth of the connected fitness market&#59; the loss of any one of our third-party suppliers, manufacturers, or logistics partners&#59; our ability to achieve our objectives and our strategic and operational initiatives&#59; litigation and related </font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">costs&#59; the impact of privacy and data security laws&#59; and other general market, political, economic, and business conditions.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the &#34;Risk Factors&#34; section of our Securities and Exchange Commission (SEC) filings, including our most recent Form 10-K and 10-Q, which are available on the Investor Relations page of our website at https&#58;&#47;&#47;investor.onepeloton.com&#47;investor-relations and on the SEC website at www.sec.gov.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on forward-looking statements.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">About Peloton </font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Peloton is the leading interactive fitness platform, with a loyal community of more than 4.4 million Members. The company pioneered connected, technology-enabled fitness, and the streaming of immersive, instructor-led boutique classes for its Members anytime, anywhere. Peloton makes fitness entertaining, approachable, effective, and convenient, while fostering social connections that encourage its Members to be the best versions of themselves. An innovator at the nexus of fitness, technology, and media, Peloton has reinvented the fitness industry by developing a first-of-its-kind subscription platform that seamlessly combines the best equipment, proprietary networked software, and world-class streaming digital fitness and wellness content, creating a product that its Members love. The brand's immersive content is accessible through the Peloton Bike, Bike+, Tread, Tread+ and Peloton App, which allows access to a full slate of fitness classes across disciplines, on any iOS or Android device, Apple TV, Fire TV, Roku TVs, and Chromecast and Android TV. Founded in 2012 and headquartered in New York City, Peloton has a growing number of retail showrooms across the U.S., UK, Canada and Germany. For more information, visit </font><font style="color:#1155cc;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.onepeloton.com</font><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">About Precor</font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Precor, a unit of Peloton and headquartered in Greater Seattle, WA, has been a pioneer in delivering fitness experiences for commercial customers and exercisers for more than 40 years. Precor serves more than 100 countries worldwide with offices in the Americas, EMEA, and APAC and operates two U.S.-based manufacturing locations. Precor products and services span across all major categories, including cardio, strength, functional fitness, group training, and connected solutions. In 2020, Precor reached the milestone of recording one billion workouts in its Preva&#174; fitness cloud. That number represents more than 140,000 connected units in over 13,000 facilities. On average, Precor exercisers record more than 20 million minutes of workouts each day as recorded by the Precor digital platform Preva&#174;. Precor segments include commercial clubs&#47;facilities and the verticals of Hospitality, Multi-family Housing, Corporate, and Education. For more information, visit </font><font style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.Precor.com</font><font style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:133%">MEDIA CONTACTS</font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Amelise Lane</font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Peloton Corporate Communications</font></div><div><font style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:underline">press&#64;onepeloton.com</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Christopher 'Skip' Wilson </font></div><div><font style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Precor Global Communications</font></div><div><font style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:underline">Christopher.Wilson&#64;Precor.com</font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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