Pandora 2012 Annual Report Download - page 101

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Table of Contents
Pandora Media, Inc.
Notes to Consolidated Financial Statements - Continued
9. Redeemable Convertible Preferred Stock
Redeemable Convertible Series F Preferred Stock
During the fiscal year ended January 31, 2010, the Company issued 45,833,082 shares of redeemable convertible Series F preferred stock ("Series F")
for approximately $34.1 million of cash, net of issuance costs of approximately $1.4 million.
Redeemable Convertible Series G Preferred Stock
During the fiscal year ended January 31, 2011, the Company issued 8,129,338 shares of redeemable convertible Series G preferred stock ("Series G")
for approximately $22.2 million in cash, net of issuance costs of approximately $44,000.
Redeemable convertible preferred stock was as follows as of the closing date of the Company's IPO:
Shares
Authorized
Shares Issued
and
Outstanding Carrying Value
Aggregate
Liquidation
Preference
Accumulated
Dividends
Cumulative
Aggregate
Liquidation
Preference
(in thousands, except share data)
Series A 375,000 375,000 $ 1,500 $ 1,500 $ — $ 1,500
Series B 24,859,899 24,859,899 14,777 9,362 5,356 14,718
Series C 24,060,786 23,884,315 17,561 12,181 5,398 17,579
Series D 21,878,271 21,812,963 35,601 25,050 9,961 35,011
Series E 8,639,737 8,639,737 18,257 14,694 2,849 17,543
Series F 45,988,020 45,833,082 40,131 35,498 5,509 41,007
Series G 8,250,000 8,129,338 24,145 22,250 1,932 24,182
134,051,713 133,534,334 $ 151,972 $ 120,535 $ 31,005 $ 151,540
During the period from February 1, 2011 through the closing date of the Company's IPO, the Company accrued dividends of $3.6 million on its
redeemable convertible preferred stock. Upon the closing of the IPO on June 20, 2011, all outstanding redeemable convertible preferred stock was converted
into shares of common stock at the contractual conversion ratios per the relevant redeemable preferred stock purchase agreements. Subsequent to the
Company's IPO, there are no further convertible preferred share dividends as all outstanding convertible preferred stock has been converted. On the closing
date of the IPO the Company paid $30.6 million in dividends to the holders of redeemable convertible preferred stock.
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