Peloton Interactive Inc (NASDAQ:PTON) shares jumped over 17% on news that it seems to have become a potential acquisition target for private equity firms.
The digitally connected fitness company has engaged in discussions with at least one firm about going private, according to CNBC, which reported that the current interest level remains unclear.
Other private equity firms have reportedly also shown interest in acquiring Peloton, although it is unknown if formal talks have occurred.
After a 13th consecutive quarterly loss, last week the company said CEO Barry McCarthy was stepping down as part of a restructuring plan that also will see 15% of staff lose their jobs.
Concerns about its $1.7 billion of debt have also been mounting, with management announcing refinancing negotiations with lenders JPMorgan and Goldman Sachs.