More than a year after cancelling its IPO, citing terrible market conditions, FriendFinder this morning announced that it has filed an amendment to the Registration Statement on Form S-1 with the SEC in connection with a re-launch of its proposed initial public offering.
The company says it intends to use the net proceeds of the public offering to repay a portion of its existing indebtedness.
Imperial Capital and Ladenburg Thalmann & Co. serve as joint bookrunners for the offering.
Florida-based FFN (formerly Penthouse Media Group) operates sites like Penthouse, Adult FriendFinder, Bondage.com, Cams.com and BigChurch.com and many more.
The company originally filed a registration statement with the Securities and Exchange Commission back in December 2008, hoping to raise $460 million in the initial public offering at the time (this was later adjusted to $220 million).
Penthouse acquired Adult FriendFinder in December 2007 for approximately $400 million.
The company recently set up a new subsidiary called FriendFinder Ventures to focus on partnerships and investment opportunities in online, gaming, mobile and software companies. techcrunch.com
Replies (5)
Well, if the Penthouse clubs could arrange for willing dancers to meet customers, FriendFinder might have a market.
IPO adjusted from $460 to $220 million during a time where The Fed is buying every piece of paper to relate the economy???
Short, short, SHORT this IPO!
why do I see this IPO digging a hole in the ground that will rival the Grand Canyon?
Horrible scam website.
"Horrible scam website."
Exactly. Hard to believe they can have a viable business model for what is essentially a giant scam. I guess "there's one born every minute" applies here.
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