Grindr confirms $18 per share take-private offer from major shareholders

NEW YORK - Grindr Inc. (NYSE:GRND) confirmed Friday that it has received an unsolicited take-private proposal from major shareholders Ray Zage and James Lu to acquire the company for $18.00 per share in cash, representing a 19.5% premium to the current trading price of $15.06. According to InvestingPro data, the company’s market capitalization stands at $2.81 billion, with analyst price targets ranging from $20 to $26 per share.

The dating app company, which describes itself as "the Global Gayborhood in Your Pocket," said the proposing shareholders and their affiliated entities currently own more than 60% of Grindr’s outstanding common stock.

A Special Committee of Grindr’s Board of Directors, formed on October 14 in response to interest expressed by the shareholders, is reviewing the proposal. The committee consists of disinterested and independent directors and is being led by Chair Chad Cohen.

"The Special Committee, in consultation with its legal and financial advisors, is reviewing the unsolicited take-private proposal and will be evaluating the best path forward for all shareholders," Cohen said in a statement.

Grindr emphasized there is no guarantee that the proposal will result in a transaction or any other strategic outcome. The company stated it does not plan to provide further updates unless deemed appropriate or necessary.

The Special Committee has retained J.P. Morgan Securities LLC as its financial advisor and Vinson & Elkins LLP as legal counsel to assist with the evaluation process.

Grindr said it remains focused on "continuing to deliver strong execution and serving its distinctive user base," according to the press release statement.

In other recent news, Grindr Inc. has been at the center of significant developments, starting with a buyout proposal from its majority shareholders. George Raymond Zage III and James Fu Bin Lu, who collectively own over 60% of Grindr’s shares, have submitted a non-binding proposal to take the company private at $18 per share. This offer represents a 51% premium over the company’s stock price as of October 10, 2025. Additionally, reports suggest that these insiders are in discussions with Fortress Investment Group to secure debt financing for the acquisition, potentially valuing Grindr at around $3 billion.

The board of Grindr has also received a letter from these shareholders expressing interest in acquiring all outstanding common stock in a going-private transaction. Meanwhile, the board has continued its stock repurchase program, leading to G. Raymond Zage III surpassing a 50% ownership stake. A special committee of independent directors was formed to assess the implications of this repurchase activity. These developments highlight a period of potential transformation for Grindr, as insiders move to consolidate their control over the company.

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