Following the appointment last week of new CEO Brian McAndrews, Pandora has now announced it will issue a new batch of shares, ten million to be precise (or up to twelve million if there is demand).
Largest existing shareholder Crosslink Capital Inc also plans to sell four million of its shares. So good news for anyone desperate to own a mug full of Pandora stock. Anyone?
Well, the digital firm reckons it could net up to $279.4 million from the share sale, providing lots of funds to pay artists for all their music, and to pay lobbyists to try and change US copyright law so they can pay less to artists for all their music. Good times.