NEW YORK—The Associated Press is reporting that FriendFinder Networks (FFN) has postponed its initial public offering originally scheduled for Thursday until early next week. According to Renaissance Securities (Cyprus) Ltd., one of the underwriters managing the deal, the extra time will give the company more time to answer questions from the Securities and Exchange Commission
The company will sell 20 million shares and hopes to raise $220 million. The stock is expected to price between $10 and $12 and will trade under the symbol "FFN" on the Nasdaq Global Market.
When contacted Tuesday by AVN about the impending IPO, FFN CEO Marc Bell said he was not allowed to comment, citing an SEC quiet period.