Grindr Confirms Take-Private Proposal From Large Shareholders; Shares Rise Premarket
MT Newswires Live
Oct 27
Grindr (GRND) shares were up more than 2% in recent premarket activity Monday after the company confirmed that it received a non-binding, unsolicited take-private proposal from a group of shareholders.
The company said Friday that a special committee of its board will evaluate the offer of $18.00 per share in cash from large shareholders Ray Zage and James Lu. The shareholders and their affiliated entities own more than 60% of Grindr's outstanding common shares, according to the statement.
Grindr said there is no guarantee that the proposal will lead to a transaction or any other strategic outcome.
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