FriendFinder to Set Stock Price Next Week, Reveals New Tube Site
The company plans to sell shares for $10 to $12 each, with its stock listing on the New York Stock Exchange under the symbol FFN. The official price will be revealed on Wednesday.
In the meantime, FriendFinder Chairman Daniel Staton, CEO Marc Bell and CFO Ezra Shashoua are making their pitches on the virtues and fiscal numbers of the company in a video on RetailRoadshow.
The company’s top executives in the video not only discuss the various Internet and entertainment business brands, including the legacy Penthouse divisions, but shed light on a new project the company has been working on.
Bell said in the video that FriendFinder has high hopes on its new tube site, TVX.com, which will help bring new revenue through banner ads and create a mechanism to drive traffic to its two dozen networking sites. TVX’s tagline is “Make your dick happy.”
The site already has ads for a number of its brands, including Cams.com, Alt.com and AdultFriendFinder.
Bell wasn’t available on Thursday to elaborate more to XBIZ on the tube site project.
As for the IPO, RenCap and Ledgemont Capital Markets LLC are acting as joint bookrunners for the offering, which was cut in half this month to about $220 million.