Grindr’s Majority Owners Propose $18-a-Share Take-Private Valuing Company at $3.46 Billion

Overview

• Board members James Lu and Raymond Zage, who own more than 60% of Grindr, submitted the proposal to buy the remaining shares and take the company private.
• The offer values Grindr at about $3.46 billion and prices the stock at $18 per share.
• Shares closed up nearly 19% on Friday after the company disclosed the bid.
• The proposal represents a 51% premium to the stock price on October 10, the day before the investors first notified the company of their going‑private exploration.
• The bidder group says it has significant financing indications, including highly confident letters and additional equity, and analysts at Raymond James called the bid the most likely to close.