Blog Post

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

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