Blog Post

Friendfinder Networks Cuts IPO Size By Half; Hoping For About $220 Million

Stay on Top of Enterprise Technology Trends

Get updates impacting your industry from our GigaOm Research Community
Join the Community!

Adult entertainment company Friendfinder Networks is finding the going tough in a recessionary market, much like the rest of the industry and has rest its expectations: after filing for an IPO exactly a year ago and hoping to raise $460 million in it, it has now filed an amended S-1 that cuts its ambitions in half: it is now hoping to sell 20 million shares for $10 to $12, which at midpoint would raise about $220 million. Underwriters, led by RenCap and Ledgemont Capital Markets, have an option to buy about 3 million shares. It plans to list on NYSE under the symbol