If all goes as planned, Pandora Media will price its public stock offering next Tuesday (6/14) and begin trading on the NYSE as “P” on Wednesday. Depending on pricing and demand, the IPO of the online streaming “radio” service could raise from $109 million to $140 million.
Pandora recently updated its prospectus to project an offering price of $7-9 per share. It will sell five million new shares and 8.7 million being sold by existing investors. That 13.7 million shares could grow to 15.7 million if the offering is oversubscribed. The entire two million share greenshoe would be new shares issued by the company.
Click here for the latest report on Pandora’s financial results.
Click here for a look at who is selling shares in the Pandora IPO.
RBR-TVBR observation: The market pullback on last Friday’s dismal jobs report might be bad news for stock sales, but we somehow doubt it will dampen enthusiasm for Internet stocks. In addition to Pandora, Bankrate Inc. is another Internet company due to price its IPO next week. It is seeking to raise $300 million.
