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About 56 million Spotify shares up for grabs on April 3

Song streaming corporate Spotify has posted an amended submitting to the United States Securities and Alternate Fee disclosing that it expects stakeholders to promote as much as 55.7 million stocks — about 47 p.c — within the company at the New York Inventory Alternate from April three.

The corporate has been making plans on an instantaneous checklist, which means that it might no longer search new capital to reinforce the worth of its providing. It additionally implies that it might industry on its present price, these days believed to be someplace round $19 billion, Reuters experiences.

Spotify additionally reported that CEO Daniel Ek has the way to industry as much as 15.eight million stocks. The corporate continues to be operating with Morgan Stanley to set a unit worth, however analysts say that Ek’s stake might be value anyplace from $775 million to $2 billion.

The company additionally discussed that it has a three-year, $447 million contract with Google Cloud Platform for webhosting.

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