San Francisco – Personalized streaming music service Pandora this week filed with the Securities and Exchange Commission (SEC) to raise nearly $142 million in an initial public offering of shares, which is now expected to take place very soon.
The company said it plans to sell 13.7 million shares at a target price of between $7 and $9 — up 40% on the $100 million Pandora had targeted in a previous filing made in February.
The new filing would value the company at between $1 billion and $1.4 billion.
Pandora’s shares will trade on the New York Stock Exchange under the ticker symbol, “P.”
http://tinyurl.com/4xsegsk (SEC filing)