Overview

• Majority owners Raymond Zage and James Lu are in talks to secure debt financing from Fortress Investment Group to acquire Grindr, according to people familiar with the matter.
• The pair have discussed a buyout price near $15 per share, which would value the company around $3 billion, though the figure could change.
• SeaTown Holdings, a Temasek unit that extended personal loans secured by their Grindr shares, seized and sold some of those pledged shares last week after the loans became undercollateralized.
• Corporate filings show Zage and Lu together held more than 60% of Grindr as of June and had pledged nearly all their stock for personal loans, and Zage recently surpassed 50% ownership through buybacks.
• Grindr shares rose roughly 10% on the report but remain down about 26% this year, and representatives for Grindr and Fortress declined to comment.