James Fu Bin Lu disclosed in a regulatory filing that given the recent decrease in Grindr (GRND) shares, he and George Raymond Zage, a shareholder and a member of the company’s board, have engaged financial and legal advisors to explore the possibility of acquiring company in a going private transaction. It is expected that any acquisition would be primarily funded through debt financing. The shareholders say they received a preliminary and conditional debt financing proposal of up to $1,000,000,000 at an acquisition price to be determined, but no less than $15 per share, from a lender. On October 13, Lu delivered a letter to the company’s board disclosing intentions to explore consummating an acquisition. Shares of Grindr are down 4% to $12.68 in late day trading.
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