Penthouse Media Group, the troubled adult media company, plans to file for a $250 million IPO, the company has announced. It says it plans to file the S-1 in Q2 of this year. “The net proceeds of the offering will be used primarily to discharge existing indebtedness. The size, nature and manner of the offering are subject to change.”
This is the company’s second attempt at going public…the previous incarnation went public in 1993. The company filed for bankruptcy in 2003, and emerged from it a few months later. In December last year, it announced buying adult social networking company AdultFriendFinder for about $500 million. The background of the stories company and its troubles over the years is documented here.