01-28-2010, 01:53 PM
|
|
|
Purveyor, Fine Asian Porn
Industry Role:
Join Date: Jul 2004
Location: San Francisco Bay Area
Posts: 38,323
|
I thought that THIS was the FFN Breaking News for Today:
FRIENDFINDER IPO POSTPONED (WAS SUPPOSED TO LAUNCH TODAY)!!!
Quote:
Penthouse magazine publisher FriendFinder Networks' initial public offering will be postponed until early next week to give the company more time to answer questions from the Securities and Exchange Commission, according to one of the underwriters managing the deal.
FriendFinder Networks Inc., which also operates adult entertainment and networking Web sites including AdultFriendFinder.com, was expected to debut on the market Thursday but needs time to prepare a written response to the SEC, said Renaissance Securities (Cyprus) Ltd.
|
What's that about?!?
Hmm...What could the SEC be looking into at the 11th hour???
I found this interesting:
Quote:
FFN's latest attempt to go public is a transparent gamble. In addition to the attempt to push through a short-term credit debacle with an equity issue, it's trying to go public on the NYSE, despite the fact that it doesn't meet the criteria yet.
According to a report in Crain's New York, a company must have a minimum of $75 million on hand, a market value of $150 million and $50 million in shareholder equity to join the NYSE party. If FFN is able to raise the $200 million it's shooting for, reaching those minimums would be no problem. But that would require a successful IPO, which is far from assured.
|
Drowning in debt and giving away gold!  
ADG
|
|
|