Pandora

Internet radio service Pandora is going ahead with an underwritten public offering of 10,000,000 shares of its common stock. An additional 4,000,000 shares will be offered by Crosslink Capital, a venture capital firm. In addition, Pandora intends to grant the underwriters a 30-day option to purchase up to an additional 2,100,000 shares to cover over-allotments, if any.

The bookrunning managers of the proposed offering will be J.P. Morgan and Morgan Stanley. Wells Fargo Securities, BofA Merrill Lynch, BMO Capital Markets, Canaccord Genuity, Needham & Company, Pacific Crest Securities, Piper Jaffray and William Blair will act as co-managers.

[Image courtesy: Pandora]