Majority Grindr Shareholders Submit Non-Binding Offer to Acquire Outstanding Shares
George Raymond Zage III and James Fu Bin Lu, collectively known as the "Proposing Shareholders," have submitted a non-binding proposal to acquire all outstanding shares of Grindr Inc. not already owned by them and their affiliates.
The proposed offer represents a 51% premium to the unaffected stock price and contemplates consideration of $18.00 per share.
- The Proposing Shareholders beneficially own over 60% of Grindr Inc.'s outstanding common stock.
- The proposal is for a going-private transaction to acquire the remaining shares, referred to as the "Minority Shares."
The Proposal contemplates consideration of $18.00 per share, representing a 51% premium to the unaffected stock price.
Author's summary: Grindr majority shareholders propose buying remaining shares.
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