Thursday, June 2, 2011

Pandora Sets IPO Pricing Range

Oakland-based Pandora Media, the personalized Internet radio service, has set its IPO pricing range and shares, the firm said Thursday afternoon. In an updated S-1 filing with the SEC, the firm said it will offer 13,684,000 shares of its common stock at between $7.00 and $9.00 per share. The firm has applied to list under the symbol "P" on the New York Stock Exchange. Pandora's IPO is being underwritten by Morgan Stanley, J.P. Morgan, William Blair & Company, and Stifel Nicolaus Weisel; the firm is venture backed by Crosslink Capital, Walden Venture Capital, Greylock Partners, Labrador Ventures, The Hearst Corporation, GGV Capital, and others.