Grindr confirms receipt of letter from holders on possible take-private

Grindr (NYSE:GRND [https://seekingalpha.com/symbol/GRND]) confirmed that its board received a letter from large holders exploring the potential of purchasing the dating app.

Ray Zage and James Lu, who control a majority of the dating app and are board members, are interested in a take-private transaction, according to a statement [https://seekingalpha.com/pr/20265884-grindr-confirms-receipt-of-letter-from-large-shareholders] from Grindr on Tuesday.

While there is no proposal to evaluate, the board of directors established a special committee in the event a bona fide proposal, including committed financing, is made.

Zage and Lu have talked about a buyout price of around $15 a share [https://seekingalpha.com/news/4503671-grindr-jumps-on-report-its-exploring-a-take-private], according to a Semafor report on Monday.

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