SiriusXM to Make $480 Million Strategic Investment in Pandora
Sirius XM Holdings Inc. (SIRI)
Last sirius xm holdings inc. earnings: 4/28 07:00 am
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Source: PR Newswire
NEW YORK and OAKLAND, Calif., June 9, 2017 /PRNewswire/ -- SiriusXM (NASDAQ: SIRI) and Pandora (NYSE: P) today announced an agreement under which SiriusXM will make a $480 million strategic cash investment in Pandora. Under the terms of the agreement, a subsidiary of SiriusXM will purchase an aggregate of $480 million in newly issued Series A convertible preferred stock of Pandora. SiriusXM purchased $172.5 million of Series A preferred stock upon execution of the agreement and has agreed to purchase the balance of the Series A preferred stock at a second closing. The Series A preferred stock will represent a stake of 19% of Pandora's currently outstanding common stock and a 16% stake on an as-converted basis. The Series A preferred stock is convertible into common stock at a purchase price of $10.50 per share. The conversion price of the Series A preferred stock is approximately a 14.2% premium to Pandora's volume weighted average price for the 20-day period preceding June 9, 2017. T
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SIRI
News
- Sirius XM Holdings Inc. (NASDAQ: SIRI) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- SiriusXM to Present at the 52nd Annual J.P. Morgan Global Technology, Media and Communications ConferencePR Newswire
- Wall Street Analysts Expect Share Prices For These Dividend Stocks To Shoot Up By Over 50% [Yahoo! Finance]Yahoo! Finance
- Sirius XM Holdings Inc. (NASDAQ: SIRI) had its price target lowered by analysts at Wells Fargo & Company from $3.00 to $2.50. They now have an "underweight" rating on the stock.MarketBeat
- Sirius XM Holdings Inc. (NASDAQ: SIRI) had its price target lowered by analysts at Rosenblatt Securities from $4.50 to $3.40. They now have a "neutral" rating on the stock.MarketBeat
SIRI
Earnings
- 5/1/24 - Beat
SIRI
Sec Filings
- 5/6/24 - Form 4
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- SIRI's page on the SEC website