Pandora to Offer Another 10 Million Shares
On Monday Pandora announced plans for a second public offering, this one of 10 Million shares of common stock. An additional 4 Million shares will be offered by the selling stockholder. The company also intends to grant the underwriters a 30-day option to purchase up to an additional 2.1 Million shares to cover over-allotments, if there are any. Pandora says it will use the money from the offering for "general corporate purposes, including working capital and capital expenditures."