Majority Grindr Shareholders George Raymond Zage III and James Fu Bin Lu Submit Non-Binding Offer to Acquire All Outstanding Shares of Grindr Inc. for $18.00 per Share

Proposed Offer Represents 51% Premium to Unaffected Stock Price

LOS ANGELES, Oct. 24, 2025 /PRNewswire/ — George Raymond Zage III and James Fu Bin Lu (together, the “Proposing Shareholders”), who along with affiliated entities beneficially own in aggregate more than 60% of the outstanding shares of common stock of Grindr Inc. (the “Company” or “Grindr”) (NYSE: GRND), today submitted a non-binding proposal (the “Proposal”) to acquire all outstanding shares of the Company’s common stock not already owned by the Proposing Shareholders and their affiliates (the “Minority Shares”) in a going-private transaction (the “Acquisition”). 

The Proposal contemplates consideration of $18.00 per share for each share of common stock, representing an approximately 51% premium over the unaffected stock price on October 10, 2025, the trading day immediately prior to the day the Proposing Shareholders first informed the Company of their intention to explore a going-private transaction. The Proposing Shareholders have secured significant expressions of interest to participate in financing, including multiple highly confident letters and contributions of equity, and are confident that these sources will be fully sufficient to fund the Acquisition. 

“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” said Zage. “We are strong believers in the long-term outlook for the Company—I have been a consistent buyer of shares in Grindr since listing, buying over $200m of shares on the public market and am also willing to contribute additional equity to this deal. Further, we have received considerable initial interest from both debt and equity investors in participating in this opportunity. We hope to have an active and friendly dialogue with our CEO George Arison and the board to find the best path forward for the Company, our employees and investors.” 

“We are pleased to submit this Proposal, which represents a significant premium to recent trading prices and better positions the Company for focused growth as a private entity,” said Lu.  “We look forward to engaging constructively with the Company and other shareholders in executing on our proposal.”

Zage and Lu originally acquired Grindr in June 2020, and led the Company’s public listing in November 2022.  They have each served on the Grindr Board of Directors since the acquisition in 2020, with Lu serving as Chairman during that time. 

Media Contacts 
Steve Bruce / Taylor Ingraham
ASC Advisors
[email protected] / [email protected]
203 992 1230

Disclaimer

This press release is not a solicitation of a proxy or vote with respect to any securities of the Company or any other securities, or an offer to purchase or a solicitation of an offer to sell any securities of the Company or any other securities, and it is not a substitute for any proxy statement or other filings that may be made with the Securities and Exchange Commission (“SEC”) should this proposed transaction go forward. If such documents are filed with the SEC, investors will be urged to thoroughly review and consider them because they will contain important information, including risk factors. Any such documents, once filed, will be available free of charge at the SEC’s website (www.sec.gov) and from the Company.

SOURCE George Raymond Zage III & James F. Lu