Penthouse Media Group, the troubled adult media company, plans to file for a $250 million IPO, the company has announced. It says it plans to file the S-1 in Q2 of this year. “The net proceeds of the offering will be used primarily to discharge existing indebtedness. The size, nature and manner of the offering are subject to change.”

SEE ALSO: Penthouse Buys Adult-themed Social Net Various Inc. For $500 Million

This is the company’s second attempt at going public…the previous incarnation went public in 1993. The company filed for bankruptcy in 2003, and emerged from it a few months later. In December last year, it announced buying adult social networking company AdultFriendFinder for about $500 million. The background of the stories company and its troubles over the years is documented here.