(RTTNews) - Grindr Inc.'s (GRND) major shareholders George Raymond Zage III and James Fu Bin Lu, who jointly own over 60% of the company with their affiliates, have proposed to acquire the remaining shares and take Grindr private.
The offer proposes a price of $18.00 per share, representing about a 51% premium over Grindr's closing stock price on October 10, 2025, the last trading day before the proposing shareholders informed the company of their plan to explore a going-private transaction.
"We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves," said Zage. "We are strong believers in the long-term outlook for the Company—I have been a consistent buyer of shares in Grindr since listing, buying over $200m of shares on the public market and am also willing to contribute additional equity to this deal. Further, we have received considerable initial interest from both debt and equity investors in participating in this opportunity. We hope to have an active and friendly dialogue with our CEO George Arison and the board to find the best path forward for the Company, our employees and investors."
Zage and Lu originally acquired Grindr in June 2020, and led the company's public listing in November 2022. They have each served on the Grindr Board of Directors since the acquisition in 2020, with Lu serving as Chairman during that time.
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