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Originally Posted by ztik
Don't think ill be getting in the IPO but wait for open and see if it tanks or not
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Might be a wise choice...
Here is what a reporter for the Wall Street Journal wrote:
Quote:
A name change, not making any money, a lot of debt: If that description sounds like a recipe for a dicey online date, then investors might want to apply the same principles to the coming week?s IPO of Web-site operator FriendFinder Networks Inc.
FriendFinder, which operates more than a dozen Web sites aimed primarily at people looking for relationships or flings, changed its name 18 months ago from Penthouse Media Group. It isn?t profitable, and until recently was in default on its debt covenants.
It struck a deal in October with its creditors to waive its defaults in exchange for all the money it raises in its initial public offering.
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Buyer beware...
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