Its first release, PEN100, was Haujobb's Homes and Gardens. The label was bought out by Metropolis Records in 1999 shortly after it released Halo_Gen's self-titled album as PEN125. When Metropolis Records bought Pendragon, they continued to sell Pendragon's backstock. Some of the bands that had been signed to Pendragon, such as Haujobb and Imperative Reaction, continued to release music on Metropolis Records. Others, such as Gridlock, moved to other labels after the acquisition.
