Peloton Interactive Inc. is exploring a sale of a sizable minority stake, in an effort to shore up its business as the once-hot bike maker’s stock continues to sink.
The fitness company is targeting potential investors including industry players and private-equity firms that could take a stake of around 15% to 20%, according to people familiar with the matter. Discussions are at an early stage and there are no guarantees the New York-based company will find a taker or agree to a deal.
