LOS ANGELES--(BUSINESS WIRE)---- $GRND--GRND Investors Have the Opportunity to Join Investigation of Grindr Inc. with the Schall Law Firm. ...

Core Insights - Grindr's largest shareholders are exploring the possibility of taking the company private again after its public debut via a SPAC merger in 2021 [2][3] - The shareholders, Raymond Zage and James Lu, are in talks with Fortress Investment Group to acquire Grindr at $15 per share, while the stock closed at $12.72 on October 15 [3][4] - Grindr's stock has experienced volatility, peaking at $24.73 in June before dropping 12% and facing a 3% decline since early September due to a short position revealed by Ningi Research [8] Financial Performance - Grindr reported a 27% year-over-year increase in revenue for Q2 in its latest earnings report [9] - The company is introducing AI-powered features for its highest-paying users and has launched a telehealth service for erectile dysfunction medications [9] Shareholder Dynamics - Zage and Lu collectively control over 60% of Grindr's shares, with Lu serving as board chair and Zage on the board, prompting the establishment of a committee of independent directors to evaluate any potential buyout offers [4]

Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating Grindr Inc.'s board of directors and majority stockholders for potential breaches of fiduciary duties related to a proposed take-private transaction that may disadvantage minority shareholders [1][5]. Group 1: Investigation Details - The investigation focuses on majority stockholders James Fu Bin Lu and George Raymond Zage, III, who are proposing a transaction to take Grindr private, potentially cashing out minority stockholders while preserving their own ownership [3][5]. - Lu and Zage have secured debt financing of up to $1 billion, contingent on the deal being at or above $15 per share [3]. - There is no indication that the final deal will require a majority-of-the-minority stockholder vote, raising concerns about the effectiveness of the special committee appointed by the company [4]. Group 2: Legal Options for Shareholders - Current shareholders of Grindr are encouraged to seek additional information and may have legal options available to them [2][6]. - BFA Law operates on a contingency fee basis, meaning shareholders will not incur court costs or litigation expenses [6].

Core Viewpoint - A committee has been established by the dating-app company to evaluate any potential definitive proposal, although no formal offer has been made [1] Group 1 - The dating-app company is currently in a position to review potential proposals [1]

Core Viewpoint - Grindr has confirmed the receipt of a letter from large shareholders, indicating potential changes in governance or strategy as shareholders express their views on company direction [1] Group 1 - The letter from large shareholders suggests a significant level of engagement and interest in the company's future [1] - This communication may lead to discussions regarding corporate governance and strategic initiatives within Grindr [1] - The involvement of large shareholders could influence decision-making processes and operational strategies moving forward [1]

Company Overview - Grindr Inc. (GRND) shares increased by 10.7% to close at $13.24, supported by strong trading volume, contrasting with a 25.6% loss over the past four weeks [1] - The company is experiencing robust user growth, AI-driven product innovation, and increasing ad and subscription revenues [1] Earnings Expectations - Grindr is projected to report quarterly earnings of $0.12 per share, reflecting a year-over-year increase of 140% [2] - Expected revenues for the upcoming quarter are $114.1 million, which is a 27.7% increase compared to the same quarter last year [2] Stock Performance Insights - The consensus EPS estimate for Grindr has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [3] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [3] Industry Comparison - Grindr is part of the Zacks Internet - Software industry, where Onestream (OS) has also maintained a Zacks Rank of 3 (Hold) [3][4] - Onestream's consensus EPS estimate has remained unchanged at $0.02, representing a year-over-year change of 101.9% [4]

Grindr's majority owners are scrambling to take the LGBTQ+ dating app private after a stock decline triggered a personal financial crisis, according to a report from Semafor. https://t.co/vmEfAoMbUy ...

Core Insights - Grindr's majority owners are attempting to take the LGBTQ+ dating app private due to a stock decline that has led to a personal financial crisis for them [1] Group 1: Ownership and Financial Situation - The majority owners, Raymond Zage and James Lu, control over 60% of Grindr and had previously acquired the app for over $600 million in 2020 before taking it public in 2022 [2] - Zage and Lu pledged nearly all their shares as collateral for personal loans from a unit of Singapore's sovereign wealth fund Temasek, which became undercollateralized following a stock slide [3] Group 2: Business Performance and Market Reaction - Despite the stock decline, Grindr's profits increased by 25% in the second quarter, although there are concerns regarding executive turnover and narrowing margins [4] - The owners are in discussions with Fortress Investment Group to secure financing for a buyout at approximately $15 per share, valuing Grindr at around $3 billion, which led to a jump in shares following the report [5]

Group 1 - Insiders at Grindr Inc. are considering a deal to take the company private due to significant stock decline [1] - The financial pressure on major shareholders has prompted this exploration of privatization [1]

Core Viewpoint - Grindr's shares rose by as much as 11% following reports that shareholders are considering taking the company private, valuing it at $3 billion [1][2] Group 1: Company Valuation and Shareholder Actions - Majority shareholders Raymond Zage and James Lu are seeking to take Grindr private after a private lender, Temasek, reportedly seized and sold some shares [1] - The proposed buyout price is up to $15 per share, which would also value the company at approximately $3 billion [2] - As of 1:45 p.m. EDT on Monday, shares were trading at $13.18, reflecting a 10.2% increase for the day [2] Group 2: Financial Position of Shareholders - Grindr's owners are reported to be in a "precarious personal financial position," prompting discussions about the buyout [2]