By Sy Mukherjee
June 6, 2019

Hello and happy hump day, readers.

Peloton, the digitally-connected bike and treadmill startup, announced Wednesday that it’s filed for a confidential IPO with the Securities and Exchange Commission (SEC).

The firm’s exercise platform connects users with health coaches and involves sleek video screens and training simulations. Prices are high-end – including thousands of dollars for the base equipment plus a monthly subscription – but the company’s advertising has been aggressive and ubiquitous.

As the nature of these sorts of public offering deals entails, Peloton didn’t have to announce details like the “number of shares to be offered and the price range for the proposed offering,” which have yet to be determined. Confidential IPOs have become increasingly popular, especially in the tech sector, as a way of dipping a firm’s toes into the public market pool without having to reveal too much (though, as Peloton did today, companies can announce the filing has been made).

A number of digital health companies are expected to delve into the public offering sphere in the coming years and even months, and don’t be surprised if some of them follow this same strategy. (Some widely rumored names include companies like diabetes maintenance firm Livongo and others.)

Read on for the day’s news.

Sy Mukherjee
@the_sy_guy
sayak.mukherjee@fortune.com

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