Business
George Raymond Zage Ill and James Fu Bin Lu Respond to Grindr Special Committee decision to Cease Engagement on Proposed Take-Private Transaction
George Raymond Zage Ill and James Fu Bin Lu (together, the "Proposing Shareholders" or "we"), who along with affiliated entities beneficially own in aggregate more than 60% of the outstanding shares of common stock of Grindr Inc. (the "Company'' or "Grindr") (NYSE: GRND), today responded to the Grindr Special Committee of its Board of Directors' (the "Special Committee") decision to cease engagement with the Proposing Shareholder's non-binding take-private proposal (the "Proposal") to acquire Gr
About this update from Grindr Inc.
[{"type":"text","content":"LOS ANGELES, Nov. 26, 2025 /PRNewswire/ -- George Raymond Zage Ill and James Fu Bin Lu (together, the "Proposing Shareholders" or "we"), who along with affiliated entities beneficially own in aggregate more than 60% of the outstanding shares of common stock of Grindr Inc. (the "Company'' or "Grindr") (NYSE: GRND), today responded to the Grindr Special Committee of its Board of Directors' (the "Special Committee") decision to cease engagement with the Proposing Shareholder's non-binding take-private proposal (the "Proposal") to acquire Grindr for $18.00 per share.","length":640,"tagName":"p"},{"type":"text","content":"The Special Committee indicated that this determination was made due to uncertainty around the financing for the Proposal. Over the past several weeks, there was regular engagement and negotiation around the signing of a confidentiality agreement to allow our team of financial advisors to conduct confirmatory due diligence in order to finalize a committed debt facility for the going private transaction. The Proposing Shareholders secured significant expressions of interest, in multiple cases unsolicited, to participate in acquisition financing, including multiple highly confident letters as well as contributions in the form of senior debt, hybrid securities and equity. We also indicated to the Special Committee a willingness for the acquisition to be subject to obtaining the approval of a majority of the disinterested shareholders in this take-private transaction.","length":876,"tagName":"p"},{"type":"text","content":"We also are aware of the following considerations:","length":50,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"The Company recently reported outstanding performance in its most recent third quarter financial results, as noted by the Special Committee, and that they feel, as we do, very confident in the Company's ability to create significant value for shareholders.","length":260,"tagName":"p"}]},{"val":[{"type":"text","content":"Research has recently been published after the third quarter earnings from a number of investment banks who have price targets for the Company that are significantly higher than the proposed $18.00 per share acquisition price.","length":226,"tagName":"p"}]},{"val":[{"type":"text...