09:15 AM EST, 11/24/2025 (MT Newswires) -- Grindr ( GRND ) said Monday that its board's special committee has ended discussions regarding an unsolicited proposal from major shareholders Ray Zage and James Lu to take the company private for $18 per share in cash.

Grindr ( GRND ) said the committee made the determination due to continued uncertainty about the financing of the proposal.

The company said the committee has been unable to get satisfactory information about definitive financing and has determined that continuing discussions are not in the best interests of shareholders.

The proposing shareholders and their affiliated entities, who hold more than 60% of the company's outstanding shares, submitted the non-binding offer on Oct. 24, the company said.

Shares of Grindr ( GRND ) were down nearly 10% in recent Monday premarket activity.