Grindr Shares Fall 9% After Special Committee Ends Review Of Take-Private Proposal

(RTTNews) - Grindr Inc. (GRND) stock declined 9.25 percent, falling $1.28 to $12.56 on Monday after the company's Special Committee ended discussions regarding an unsolicited, non-binding take-private proposal from major shareholders Ray Zage and James Lu. The committee said it was unable to obtain sufficient clarity on the financing behind the proposed $18.00-per-share offer.

The stock is trading at $12.56, compared with a previous close of $13.84 on the New York Stock Exchange. Shares have moved between $11.81 and $12.77 so far today, with volume at about 3.60 million shares.

Grindr's 52-week range is $11.73 to $25.13.