PelotonAs the connected fitness equipment company looks to increase its cash flow amid slowing sales momentum, it announced Tuesday that they plan to sell another $1 billion worth of Class A common stock.

Peloton reported that TCV and Durable Capital Partners affiliates and T. Rowe Price Associate accounts have expressed interest in buying shares.

According to the company, the underwriters of the offering will be granted a 30-day option to buy up to $150 million more shares at the public offer price. This includes less commissions and discounts.

Peloton did not specify how the additional funds would be used.

Peloton is one of the many public companies that seek to offer stock options in order to profit from a rising share market. But, this year’s market price has plummeted. The shares fell around 3% during extended trading on Tuesday following the announcement, and have fallen almost 70% in the year since then. After touching an earlier 52-week low at $46.70, shares closed Monday 3.5% lower.

The company also reduced its revenue outlook for this year after reporting a larger-than-expected loss for its fiscal first quarter. by as much as $1 billion.

This company invested money in marketing. launching new productsIts supply chain. Analysts and investors are concerned that these investments may have come too late for consumers who want to improve their at-home fitness.

Additionally, the company also put a temporary freeze on hiringYou can try to reduce your expenses.

Peloton’s complete press release is available here here.