Inventors of the Laundroid want to commercialize the laundry folding robot by the end of 2017.
Sirius XM will pay $480 million for a 19% stake in Pandora and three seats on its board, including chairman.
Pandora is caught between a rock and hard place. It needs money, and fast.
Potential bidder is interested in a minority investment, suggesting that efforts to sell the company may be over. In addition, an activist hedge fund has been fended off.