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. View Full Image none needed A FriendFinder page: 'social networking' but not exactly Twitter. The page includes a link at top-center of the page to IPO information. 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. It is hoping for $200 million in net proceeds from the sale of 20 million shares through RenCap Securities and Ledgemont Capital Markets LLC, according to its prospectus, with an estimated price range of $10 to $12, and a listing on the New York Stock Exchange with symbol FFN.[Read more...]