Dating app Grindr confirms receiving go-private interest from shareholders

(Reuters) -Grindr on Tuesday confirmed that its board had received a letter from shareholders Ray Zage and James Lu stating an interest in exploring the possibility of taking the dating app private.

Shares of the company were up about 3% in after-hours trading.

The board has established a "special committee comprised of disinterested and independent directors in the event that a definitive, bona fide proposal, including committed financing, is presented to the company for evaluation," Grindr said.

Semafor reported on Monday that Zage, a board member, and Lu, the chair of the board, are in talks to secure debt financing from Fortress Investment Group to acquire Grindr and that a buyout price of around $15 per share was discussed.

Grindr was formerly owned by Beijing Kunlun Tech, which sold it to San Vicente Acquisition LLC for more than $600 million in 2020 after the Committee on Foreign Investment in the U.S. raised national security concerns.

(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shreya Biswas)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Amentum Holdings (AMTM) Reiterated at Market Outperform by Citizens on Strong Fundamentals
• Rakovina Therapeutics closes first tranche, upsizes private placement
• Fifteen bodies recovered from lake where Zimbabwe passenger ferry capsized