FriendFinder Networks, an online adult social networking and multimedia entertainment company, announced terms for its IPO on Friday. The Boca Raton, FL-based company plans to raise $220 million by offering 20 million shares at a price range of $10-$12. At the mid-point of the proposed range, FriendFinder will command a market value of just over $450 million. The online social networking company, which was founded in 1993 and booked $331 million in sales over the last 12 months, plans to list on the NYSE under the symbol FFN. Russian investment bank RenCap (Cyprus) and Ledgemont Capital Group are the lead underwriters on the deal.
