Underwriters for Warner Music Group Corp. on Monday set the terms of the record company’s pending initial public offering at 32.6 million shares with an estimated price range of $22 to $24 a share.
According to an amended prospectus filed Monday with the Securities and Exchange Commission, 5.43 million of the total shares are being offered by selling holders. The company said it will use net proceeds from the IPO to redeem certain debt of its subsidiaries and for general corporate purposes.
