Zage and Fu Bin Lu React to Grindr's Rejection of Their Proposal
Proposal Withdrawal: George Raymond Zage Ill and James Fu Bin Lu, who own over 60% of Grindr's shares, have withdrawn their non-binding proposal to take the company private for $18.00 per share after the Grindr Special Committee ceased engagement due to financing uncertainties.
Financing Interest: The Proposing Shareholders had received significant unsolicited interest for acquisition financing, including letters of confidence and offers of senior debt, hybrid securities, and equity.
Future Intentions: Instead of pursuing privatization, Mr. Zage plans to continue purchasing additional shares of Grindr in the market, adhering to the company's trading policies.
Shareholder Returns: Mr. Zage will advocate for the company's management to enhance share repurchase plans and potentially introduce dividends to improve returns for shareholders.
Get Free Real-Time Notifications for Any Stock
Analyst Views on GRND
About GRND
About the author

Analysts Upgrade Earnings Outlook for Communication Services, Angel Studios and Others Rated A+
- Earnings Upgrades: As earnings season approaches, analysts have positively revised earnings expectations for communication services companies, with Angel Studios (ANGX) receiving an A+ EPS Revision Grade, indicating growing market confidence in its near-term performance.
- Strong Small-Cap Performance: EverQuote (EVER), Grindr (GRND), and ZoomInfo Technologies (GTM) also achieved A+ EPS Revision Grades, suggesting that these mid- and small-cap communication services firms possess robust growth potential, likely attracting increased investor interest.
- Increased Market Confidence: IHS Holding (IHS), JOYY (JOYY), and Manchester United (MANU) also received A+ EPS Revision Grades, reflecting analysts' optimistic outlook on their profitability and market performance, which may drive their stock prices higher.
- Positive Industry Outlook: Turkcell Iletisim Hizmetleri (TKC), Uniti Group (UNIT), and Anterix (ATEX) also excelled in EPS Revision Grades, highlighting the growth potential within the communication services sector, presenting investment opportunities for investors to consider.

Johnson Fistel Investigates Grindr Board for Potential Fiduciary Breaches
- Board Investigation: Johnson Fistel is investigating whether Grindr Inc.'s Board of Directors breached fiduciary duties by terminating negotiations with the controlling stockholder, particularly concerning minority shareholders' rights.
- Shareholder Rights Review: The investigation will assess if the Board's decisions impacted shareholder rights, including the balance of control within the company and the treatment of non-controlling investors, potentially leading to decreased shareholder trust.
- Potential Legal Consequences: Should the investigation reveal board misconduct, it could prompt shareholder lawsuits, affecting Grindr's stock price and market reputation while increasing the company's legal risks.
- Investor Participation: Johnson Fistel encourages Grindr shareholders to join the investigation, highlighting concerns over corporate governance transparency, which may influence future investor confidence.









