WEST HOLLYWOOD, Calif.--(BUSINESS WIRE)--

Grindr Inc. ( GRND ) (“Grindr” or the “Company”), the Global Gayborhood in Your Pocket™, today announced that the Special Committee (the “Special Committee”) of its Board of Directors (the “Board”) has determined to cease engagement with respect to a non-binding, unsolicited take-private proposal (the “Proposal”) from large shareholders Ray Zage and James Lu (the “Proposing Shareholders”) to acquire Grindr ( GRND ) for $18.00 per share in cash. The Special Committee made this determination due to continued uncertainty as to the financing for the Proposal.

The Proposing Shareholders, together with their affiliated entities, currently beneficially own more than 60% of the outstanding shares of the Company’s common stock. The Proposing Shareholders sent the Proposal to the Special Committee on October 24, 2025.

The Special Committee, which is comprised of disinterested and independent directors, in consultation with its independent financial and legal advisors and consistent with its fiduciary duties, has been evaluating the Proposal and sought additional information with respect to both the certainty of commitment and the amount of the Proposing Shareholders’ financing for the Proposal. To date, the Special Committee has been unable to obtain satisfactory information about definitive financing.

“After careful consideration, the Special Committee has unanimously determined that further discussions with the Proposing Shareholders with respect to the Proposal are not in the best interests of the Company or its shareholders at this time,” said Special Committee Chair, Chad Cohen. “The Special Committee remains confident in the Company’s ability to create significant value for all shareholders as the management team executes its long-term strategic plan, as demonstrated by the Company’s outstanding performance in its most recent third quarter financial results.”

The Special Committee and the Board remain fully committed to acting in the best interests of all shareholders with a view toward maximizing shareholder value.

J.P. Morgan Securities LLC is acting as financial advisor to the Special Committee, and Vinson & Elkins LLP is acting as legal counsel to the Special Committee.

About Grindr Inc. ( GRND )

With more than 15 million average monthly active users, Grindr ( GRND ) has grown to become the Global Gayborhood in Your Pocket™, on a mission to make a world where the lives of our global community are free, equal, and just. Available in 190+ countries and territories, Grindr ( GRND ) is often the primary way for its users to connect, express themselves, and discover the world around them. Since 2015, Grindr ( GRND ) for Equality has advanced human rights, health, and safety for millions of LGBTQ+ people in partnership with organizations in every region of the world. Grindr ( GRND ) has offices in West Hollywood, the Bay Area, Chicago, and New York. The Grindr ( GRND ) app is available on the App Store and Google Play.

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Source: Grindr Inc. ( GRND )