FriendFinder Revisits Plans To Go Public
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.
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.
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