1. Grindr's Board received interest for a potential acquisition. 2. No formal proposal has been made yet. 3. A Special Committee has been established for possible proposals. 4. Grindr is focusing on executing its three-year plan. 5. The user base highly values Grindr's app functionality.
The interest from major shareholders indicates potential value increase, akin to similar past acquisitions that boosted stock prices after announcements.
The interest in acquisition suggests strong future prospects, making GRND highly relevant in a bullish outlook for shareholders and market stakeholders.
Market reactions will occur as news develops regarding potential proposals, influencing GRND's price quickly.
Grindr Inc. (NYSE:GRND) ("Grindr" or "the Company"), the Global Gayborhood in Your Pocket™, today confirmed that its Board of Directors received a letter from large shareholders Ray Zage (Board member) and James Lu (Board Chair) stating an interest in exploring the possibility of acquiring Grindr in a going-private transaction through the acquisition of all of Grindr's outstanding common stock.
While there is no proposal to evaluate at this time, the Board of Directors 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. The Board and the Special Committee are committed to acting in the best interest of all stockholders.
The Company remains focused on continuing to deliver strong execution on its three-year plan and to serve Grindr's distinctive user base, for whom the Grindr app is of vital importance in their day-to-day lives.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251014738911/en/
Hayley Richard
press@grindr.com