FriendFinder Networks, the company that owns Penthouse and a bunch of porn websites, is going public tomorrow, Reuters reports.
The company has tried to go public several times in the past but was always stymied. Now it’s almost certain to start trading tomorrow, raising $50 million which it will use to pay down a huge debt load. It sold 5 million shares at $10, the bottom of its $10-12 range.
The company generated revenues of $346 million last year, but it loses money.