Grindr Shares Jump 3% After Board Confirms Shareholders Are Exploring A Take-Private Deal

Benzinga

Grindr confirmed shareholder interest in a potential buyout led by board members Ray Zage and James Lu, reportedly considering a $15-per-share offer with Fortress funding. A special committee will review any formal proposal.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Grindr deferred Tuesday that its board received a letter from shareholders Ray Zage and James

00:07Liu expressing interest in taking the company private, according to Reuters.

00:11Grindr said a special committee of independent directors would evaluate any definitive finance

00:15proposal. Some of four earlier reported that Zage and Liu, who serve as board members,

00:19are in talks with Fortress Investment Group for debt financing to acquire Grindr,

00:23discussions around a $15 per share offer. Grindr, once owned by Beijing, Kunlun Tech,

00:29was sold to San Vincenzo Inquisition LLC for over $600 million in 2020 after U.S. regulators

00:35raised national security concerns. Shares rose 3% in after-hours trading following the announcement.

00:40For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended