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Fly News Breaks for December 4, 2015
P
Dec 4, 2015 | 08:35 EDT
Sterne Agee CRT says that Pandora will limit the potential dilution from its convertible senior note offering by using capped call transactions. The firm thinks the company will use the proceeds primarily for "recoupable advances on direct/interactive licenses with the major music labels." Sterne Agee CRt does not believe that the offering signals any changes in Pandora's views on its pending royalty case. It keeps an $18 price target and Buy rating on the shares.
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