Lookee Here: An IPO Filing!

Florida-based FriendFinder Networks (formerly Penthouse Media Group), a group of sites that includes Penthouse and Adult FriendFinder, has filed a registration statement with the SEC to go public.

Little-known Russian investment bank Renaissance Capital is representing them in the deal. The company hopes to raise $460 million in the IPO.

The registration statement is still preliminary, but it gives deep insights on the financial condition of the company. Revenues for the first three quarters of 2008 were $244 million. The company claims 946,598 subscribers to its adult services.

The primary use of the proceeds from the IPO, the company says, is to pay off the nearly half billion dollars in debt on its books.

Penthouse acquired Adult FriendFinder in December 2007 for approximately $400 million.

Original post

Comments

[Jase:]

Two words: short candidate. (No pun intended.)

2008 Dec 24 10:26 AM

[ediblegardener:]

re: Jase said "short candidate".
raise your hands and say "amen".

2008 Dec 24 06:04 PM

[Anthony Alfidi:]

The markets will get hot and heavy with this IPO. Bankers' pulses must be racing with anticipation. I just hope traders don't execute any naked shorts.

Alright, that's enough.

2008 Dec 24 07:04 PM