Grindr Majority Owners Propose $18-a-Share Buyout to Take Company Private

Overview

• Majority shareholders George Raymond Zage III and James Fu Bin Lu submitted a non-binding offer to acquire all remaining Grindr shares they do not own.
• The proposal values the company at roughly $3.46–$3.5 billion and represents a 51% premium to the Oct. 10 unaffected price.
• The bidders say they have significant expressions of interest from debt and equity providers and are confident funding would cover the acquisition.
• Grindr shares rose 18.9% to close at $15.06 in New York trading after the offer was disclosed.
• Zage and Lu, who control more than 60% of Grindr and helped take it public in 2022, previously signaled a take-private floor of $15 and have continued buying stock.