THE DEAL--PlanetOut trading sharply higher in its first day as a public company. San Francisco-based, sold 4.65 million shares at $9, raised $41.9 million; rose 15.6% in its debut, closing at $10.40. PlanetOut is a product of the 2001 merger between PlanetOut Corp. and Gay.com parent company OnlinePartners.com Inc. It serves 3.3 million members.
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