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Pandora Media prices IPO above the range at $16

June 14, 2011
P

Pandora Media, a leading Internet radio company with 94 million registered users, raised $235 million on Tuesday by offering 14.7 million shares at $16, 45% above the midpoint of its upwardly-revised $10 to $12 range. Pandora Media will list Wednesday on the NYSE under the symbol P. Morgan Stanley, J.P. Morgan, and Citi acted as lead managers on the deal.