Pandora Reports Investment Made By KKR - Quick Facts

(RTTNews) - Pandora (P) announced it has entered into an agreement for a $150 million strategic investment from KKR. KKR will purchase an aggregate of $150 million in a new designated Series A convertible preferred stock of Pandora. In connection with the investment, Richard Sarnoff, KKR's Head of Media & Communications Private Equity investing in the Americas, will join Pandora's Board.

Naveen Chopra, CFO at Pandora, said: "A strong balance sheet gives us the ability to accelerate growth investments when appropriate and to compete aggressively in a rapidly changing, complex market."