James Fu Bin Lu, chairperson of Grindr’s (GRND) board, and Zage George Raymond III delivered a “preliminary and non-binding proposal” to Grindr, proposing to acquire all of the outstanding shares not already owned by them for $18.00 per share. Lu and Zage said they will fund the acquisition with a combination of equity and debt financing. Zage is the sole equity holder in Tiga Investments. Grindr shares are up 22%, or $2.81, to $15.48 in morning trading.
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