Grindr said its largest shareholders are exploring an acquisition to take the company private at no less than $15 a share, confirming an earlier media report https://t.co/rv2jwTkdLN ...

Core Insights - Dating app Grindr is exploring a privatization deal with major shareholders Raymond Zage and James Lu negotiating with Fortress Investment Group for debt financing [1] - The proposed acquisition price is approximately $15 per share [1] - The acceleration of these negotiations follows the seizure and sale of some Grindr shares held by shareholders by a subsidiary of Temasek last week [1]

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 pledged nearly all their shares as collateral for personal loans from Temasek [2][3] - Following a decline in Grindr's stock price, the loans became undercollateralized, prompting Temasek to seize and sell some shares [3] Group 2: Business Performance - Despite the stock decline, Grindr's business fundamentals remain strong, with profits increasing by 25% in the second quarter [4] - There are concerns among investors regarding narrowing margins and some executive turnover [4] Group 3: Buyout Discussions - Zage and Lu are in talks with Fortress Investment Group to secure financing for a buyout at approximately $15 per share, valuing Grindr at around $3 billion [5] - Following the news of the potential buyout, Grindr's shares experienced a price increase [5]

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]

Shares of Grindr were up as much as 11% on Monday afternoon after Semafor reported shareholders are considering taking the company private in a deal that would value the LGBTQ dating app at $3 billion. https://t.co/lL0FHPGGoS https://t.co/8SqZqxC9F8 ...

Shares of Grindr were up as much as 11% on Monday afternoon after Semafor reported shareholders are considering taking the company private in a deal that would value the LGBTQ dating app at $3 billion.Raymond Zage and James Lu, majority shareholders in Grindr, are seeking to take the company private after Temasek, a private lender which made personal loans to at least one of the two men, reportedly seized some shares last week and sold them. Grindr’s owners are now in a "precarious personal financial positi ...

Grindr Stock Surges 10% As Company Reportedly May Go Privatehttps://t.co/HVvOD4wGta https://t.co/M2guoPcRkV ...

(Reuters) -Insiders at dating app Grindr are discussing taking it private after a share slump put its top owners in a tight personal financial position, Semafor reported on Monday, citing people familiar with the matter. Grindr shares jumped more than 10% following the report. They have lost about 26% so far this year. Raymond Zage and James Lu, who control majority of Grindr, are in talks to secure debt financing from Fortress Investment Group to acquire the dating app, the report said. Zage and Lu hav ...

Grindr shares surged Monday — the biggest jump in more than 15 months — after reports insiders may take the company private https://t.co/gtOKECDxrg ...

The Inside Story Of How A Former Hedge Fund Star Made His First Billion On Grindr https://t.co/FIODju1cKK ...