Porn News

Wall Street: FriendFinder Tumbles

After a tough day on Wall Street we suggest jacking off to some Video Babe at www.adultcybermart.com/VideoDayArchives.html

Wall Street – from www.bloomberg.com – FriendFinder Networks Inc., the publisher of Penthouse magazine, plunged as much as 22 percent in Nasdaq Stock Market trading after selling shares at the low end of the range in its initial public offering.

The Boca Raton, Florida-based operator of websites including AdultFriendFinder.com and Cams.com tumbled $2.23 to $7.77 as of 12:35 p.m. New York time. FriendFinder raised $50 million in its IPO yesterday, selling 5 million shares at $10 each after offering them for as much as $12 apiece.

FriendFinder’s IPO follows an attempt last year to raise as much as $240 million and plans in 2008 for an offering of as much as $460 million, U.S. Securities and Exchange Commission filings show. The company is using proceeds to repay debt, according to the prospectus.

The company, which had outstanding debt of $542.5 million as of April 15, had accumulated net losses of $210 million in the five years through 2010, the prospectus showed. Net revenue for the year ended Dec. 31 was $346 million, while the net loss was $43.2 million, according to the filing.

Imperial Capital Group Inc. of Los Angeles and Ladenburg Thalmann Financial Services Inc. (LTS) of Miami led the offering.

157 Views

Related Posts

X’s Porn-Recognition AI Survives Illinois’ Biometric Privacy Law Challenge

CHICAGO — A lawsuit filed under Illinois’ unusual state law targeting biometric data collection has spotlighted an AI program used by X since 2015 to identify nudity and NSFW images.The lawsuit is a proposed class action suit filed by lawyers…

Elegant Angel Releases 1st Installment of ‘Best New Starlets 2024’

PITTSBURGH — Elegant Angel has released the first installment of its latest release, "Best New Starlets 2024."The scene, titled "Best Feeling Ever," stars XBIZ Best New Performer nominees Lily Starfire and Summer Vixen, along with Isiah Maxwell."This scene is one…

Wicked Drops 2nd Installment of Seth Gamble’s Erotic Thriller ‘Iris’

LOS ANGELES — Wicked Pictures has released the second installment of reigning XBIZ Performer of the Year Seth Gamble's latest feature, "Iris." The erotic thriller stars Blake Blossom in the title role, along with Emma Hix, Jennifer White, Charles Dera,…

Anti-Pornhub Attorney Expands Strategy to ‘Name and Shame’ Finance Companies

LOS ANGELES — A legal team headed by Michael J. Bowe, the former lawyer for Donald Trump and Jerry Falwell Jr., has recently expanded its strategy in a series of ongoing legal actions against Aylo over user-uploaded content on Pornhub allegedly…

Blake Blossom & Dan Damage Star in New Episode of Gamble’s ‘Iris’

Seth Gamble on Friday announced the release of Invisible, the second scene of his Wicked Pictures feature Iris.

Leave a Reply

Your email address will not be published.