• Paid Content, Monday, January 11, 2010 3:01 PM

Blame it on the recession or our culture's puritanical underpinnings, but adult entertainment company Friendfinder Networks is having to rein in its IPO. After filing for an IPO a year ago in an effort to raise roughly $460 million, paidContent reports that that company has now filed an amended S-1, which cuts its ambitions in half. As such, Friendfinder is now hoping to sell 20 million shares for $10 to $12, which at midpoint would raise about $220 million.

Underwriters, led by RenCap and Ledgemont Capital Markets, have an option to buy about 3 million shares. When the company originally announced it IPO, most of the money is hoped to raise was earmarked to pay down its debt, related to its $500 million purchase of AdultFriendFinder.com parent Various Inc. in late 2007.

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