FriendFinder Networks Expects $50 Million from IPO

FriendFinder Networks
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FriendFinder Networks expected to raise $50 million in gross profit from its IPO which started trading May 11, 2011 on the Nasdaq under the "FFN" ticker symbol. The company expect shares to go for around $10 and plan to sell 5 million. The money raised from the IPO has been earmarked to pay down their debt.

FriendFinder Networks stock price currently sits at $5.67 per stock and it has been as low as $5.32 per stock in the past few days.

To find out more about dating sites owned by FriendFinder Networks you can read our review of Passion.com and our review of FriendFinder.

Related Story: FriendFinder Networks Plans To Revisit Public Offering