Streaming music service Pandora raises $480M from SiriusXM, sells TicketFly to Eventbrite for $200M

Pandora will also pay P/E firm KKR a termination fee of $22.5M.

Fitz Tepper posted: "SiriusXM just announced they will be investing $480M in cash into Pandora, which will give them a ~16% stake in the company on an as-converted basis.

The investment will come in the form of newly-issued Series A convertible preferred Pandora stock. $172."

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Pandora raises $480M from SiriusXM, sells TicketFly to Eventbrite for $200M

by Fitz Tepper

SiriusXM just announced they will be investing $480M in cash into Pandora, which will give them a ~16% stake in the company on an as-converted basis. The investment will come in the form of newly-issued Series A convertible preferred Pandora stock. $172.5M of the preferred stock was purchased upon execution of the deal, and the … Continue reading Pandora raises $480M from SiriusXM, sells TicketFly to Eventbrite for $200M

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Fitz Tepper | June 9, 2017 at 6:04 am | Tags: siriusxm, Pandora, Music, investment, deals, preferred stock | Categories: Fundings & Exits, Private Equity, TC | URL: http://wp.me/p1FaB8-6iDM

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