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Pandora Prices Initial Public Offering
Oakland, CA - Jun 15, 2011 - Internet radio streamer Pandora Media priced its initial public offering of approximately 14.7 million shares of common stock at a price of $16 per share. A total of approximately 6.0 million shares are being offered by Pandora, and a total of approximately 8.7 million shares are being offered by selling stockholders. Pandora has granted the underwriters a 30-day option to purchase up to approximately an additional 2.2 million shares to cover over-allotments, if any. Pandora will not receive any proceeds from the sale of shares by the selling stockholders. Pandora common stock will trade on the New York Stock Exchange under the symbol "P."
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