Seeking Alpha

Pandora upsizes offering to 18.2M shares, prices it at $25

  • In a move reminiscent of LinkedIn's recent offering (and driving home investor demand for high-growth Internet names), Pandora (P +0.5%) has upsized its stock offering to 18.2M shares from a prior 14M, while pricing it at $25. (PR)
  • Whereas the company and VC firm Crosslink Capital were originally planning to sell 10M and 4M shares, respectively, they're now selling 13M and 5.2M. Underwriters have a 2.7M-share overallotment option, and the offering is expected to close on Tuesday.
  • Pandora stands to reap gross proceeds of $325M. Its diluted share count is set to rise by over 7%.
Comments (1)
  • Tales From The Future
    , contributor
    Comments (3675) | Send Message
     
    Did someone invent a time machine and fly back to Nasdaq 1999? LNKD; P....the list goes on and on. Tech stocks will soon escape rational valuation levels..
    19 Sep 2013, 05:22 PM Reply Like
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