Pandora Completes Sale Of $345 Million In Notes

Notes Sold

PANDORA MEDIA, INC. has completed an unregistered offering of $345 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2020.  $45 million of the notes were sold under an option to the initial purchaser exercised on DECEMBER 4th.

Net proceeds from the sale totaled about $336.7 million after buyers' fees and expenses, and $43.1 million was used to pay the cost of separate Capped Call Transactions with MORGAN STANLEY and JP MORGAN CHASE, with the rest for general corporate purposes.

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