FriendFinder Starts Marketing Its IPO

Jan 12, 2010 9:45 AM PST
BOCA RATON, Fla. — FriendFinder on Tuesday commenced marketing its initial public offering of 20 million shares of common stock.

A filing with the Securities and Exchange Commission said it plans to sell the shares for $10 to $12 each.

FriendFinder filed for an IPO of up to $460 million in December 2008. The latest offer essentially cuts the size of the offering by more than half to about $220 million.

FriendFinder, which operates the AdultFriendFinder network as well as about two dozen more networking sites, also owns Penthouse Media Group Inc.

FriendFinder’s common stock has been approved for listing on the New York Stock Exchange under the symbol FFN.

RenCap and Ledgemont Capital Markets LLC are acting as joint bookrunners for the offering.

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