Reuters logo
BRIEF-Sirius XM to make $480 mln strategic investment in Pandora
2017年6月9日 / 中午12点25分 / 4 个月前

BRIEF-Sirius XM to make $480 mln strategic investment in Pandora

June 9 (Reuters) - Sirius XM Holdings Inc

* Sirius XM to make $480 million strategic investment in pandora

* Sirius XM holdings inc - ‍a subsidiary of siriusxm will purchase an aggregate of $480 million in newly issued series a convertible preferred stock of pandora​

* Sirius XM holdings inc says pandora agreed with an affiliate of kohlberg kravis & roberts to terminate their investment agreement announced on may 8, 2017

* Series a preferred stock is convertible into common stock at a purchase price of $10.50 per share

* Sirius XM -under terms of agreement, a unit of siriusxm will purchase aggregate of $480 million in newly issued series a convertible preferred stock of pandora

* Sirius XM holdings inc - ‍through this agreement, siriusxm is making a strategic investment in leading u.s. Provider of ad-supported digital radio​

* Sirius XM holdings inc - siriusxm purchased $172.5 million of series a preferred stock upon execution of agreement

* Sirius XM - 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

* When transaction closes, three individuals designated by siriusxm will be named to pandora board of directors

* When transaction closes, three individuals designated by siriusxm will be named to the pandora board of directors

* Sirius XM holdings inc - series a preferred stock is convertible into common stock at a purchase price of $10.50 per share

* Sirius XM holdings inc says pandora to pay kkr a termination fee of $22.5 million

* Sirius XM holdings inc - when transaction closes, three individuals designated by siriusxm will be named to pandora board of directors

* Sirius XM holdings inc - ‍ one of siriusxm’s designated individuals will serve as chairman​

* Agreement may be terminated by either party if closing has not occurred by february 1, 2018.

* Sirius XM holdings inc - ‍agreement may be terminated by either party if closing has not occurred by february 1, 2018​

* With appointment of the three individuals, pandora board will be expanded to consist of nine directors

* Sirius XM says it will be subject to certain standstill restrictions, including, being restricted from acquiring additional securities of pandora for 18 months Source text for Eikon: Further company coverage:

我们的标准汤森路透“信任原则”
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below