FriendFinder Networks Inc. Commences Marketing of its Initial Public Offering for $220 Million of its Common Stock
BOCA RATON, Fla., Jan. 12 /PRNewswire/ -- FriendFinder Networks Inc. ("FFN") announced today that it has commenced marketing in connection with its initial public offering of 20 million shares of its common stock. The offering is being made pursuant to Amendment No. 7 to FFN's Registration Statement on Form S-1, including a preliminary prospectus, filed on January 8, 2010 with the Securities and Exchange Commission. It is currently estimated that the initial public offering price per share will be between $10.00 and $12.00, and gross proceeds from the offering are expected to be $200 million to $240 million. The common stock has been approved for listing on the New York Stock Exchange under the symbol "FFN," subject to official notice of issuance. RenCap and Ledgemont Capital Markets LLC are acting as joint bookrunners for this offering.
A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained by writing or calling Investor Relations, FriendFinder Networks Inc., 6800 Broken Sound Parkway, Boca Raton, FL 33487 (U.S. Toll Free: +1-888-364-1633 or Tel: +1-561-912-7037); RenCap Sales, RenCap Securities, Inc., 780 Third Avenue, New York, NY 10017 (Tel: +1-212-824-1099, Email: [email protected]); or Keith Barksdale, Ledgemont Capital Markets LLC, 780 Third Avenue, New York, NY 10017 (Tel: +1-212-584-4549, Email: [email protected]), www.ledgemontcapital.com.
About FriendFinder Networks Inc.
FriendFinder Networks Inc. is a leading internet-based social networking and multimedia entertainment company operating several of the most heavily visited social networking websites in the world, particularly with respect to its adult-oriented websites. In addition, the FriendFinder Networks family of companies produces and distributes original pictorial and video content, licenses its globally recognized Penthouse brand to a variety of consumer companies and entertainment venues, and publishes branded men's lifestyle magazines.
SOURCE FriendFinder Networks Inc.
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