XBIZ – Oct 13 – FriendFinder Networks intends to complete its IPO process by the end of the year. “The primary purpose of this offering is to repay some of our outstanding debt, including certain debt held by our affiliates, which we expect will decrease our interest expense and increase our flexibility with respect to our operations and growth strategy,” the company said in the filing. As of June 30, the company had ~$81M in debt at the parent level. It also had ~$442.1M in debt in connection with its acquisition of Various, which was the preceding parent operator of its FriendFinder websites.
The full article was originally published at XBIZ Newswire, but is no longer available.
How can some companies balls things up so much!?!?
How can some companies balls things up so much!?!?
Looks like desperation. I forsee a failure of the IPO followed by the return of all the FFN assets to the debtor.
Looks like desperation. I forsee a failure of the IPO followed by the return of all the FFN assets to the debtor.
ALERT: Their website does not come up today. In addtion, they own breakthru.com and the phone number listed says is it a non working number. In addtion, frauds are already out on the web using false breakthru.com email addresses and combining it with a real persons name and phone number, mine, to try and get free stuff off the web. I got three calls within 5 minutes of each other this morning and my phone is unlisted and on a nationwide no call list.
ALERT: Their website does not come up today. In addtion, they own breakthru.com and the phone number listed says is it a non working number. In addtion, frauds are already out on the web using false breakthru.com email addresses and combining it with a real persons name and phone number, mine, to try and get free stuff off the web. I got three calls within 5 minutes of each other this morning and my phone is unlisted and on a nationwide no call list.