Grindr Confirms Possible Take-Private Plan From Top Holders (2)

Grindr Inc. said its largest shareholders are exploring an acquisition that would take the company private at no less than $15 a share, confirming an earlier media report.

James Lu and Raymond Zage, who together own more than 60% of the company, have “engaged financial and legal advisers” to explore the possibility of taking the LGBT-focused dating app company private, primarily through debt financing, according to a regulatory filing published Tuesday.

The move, first reported by Semafor on Monday, was prompted by the recent decline in Grindr’s stock price, the filing said. The shares have fallen 29% so far ...