{"id":810616,"date":"2025-02-07T16:08:08","date_gmt":"2025-02-07T21:08:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/"},"modified":"2025-02-07T16:08:08","modified_gmt":"2025-02-07T21:08:08","slug":"grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/","title":{"rendered":"Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwpadl0 { padding-left: 0px }\n.bwtablemarginb { margin-bottom: 10px }\n.bwuline { text-decoration: underline }\n.bwvertalignt { vertical-align: top }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants<\/b><\/p>\n<p>LOS ANGELES&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nGrindr Inc. (NYSE: GRND) (\u201cGrindr\u201d or the \u201cCompany\u201d), the Global Gayborhood in Your Pocket<sup>TM<\/sup>, today announced the \u201cRedemption Fair Market Value\u201d to be used in connection with the previously announced redemption of all of its outstanding public warrants and private placement warrants (collectively, the \u201cwarrants\u201d). Grindr previously announced that it will redeem all of its warrants that remain unexercised as of 5:00 p.m., New York City time, on February 24, 2025 (the \u201cRedemption Date\u201d), at a redemption price of $0.10 per warrant. The Redemption Fair Market Value will be used to determine the number of shares of the Company\u2019s common stock (the \u201ccommon stock\u201d) that will be issued in connection with the exercise on a \u201ccashless basis\u201d of a warrant in accordance with subsection 6.1.2 of the warrant agreement.<\/p>\n<p>\nAt the Company\u2019s request, the warrant agent is delivering on the Company\u2019s behalf a notice of redemption fair market value to each of the registered holders of the warrants, informing them, among other things, that:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\na.<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nbased on the date that the notice of redemption was sent to holders of warrants, the Redemption Fair Market Value is $17.96; and<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nb.<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nbased on the Redemption Fair Market Value and the number of months between the Redemption Date and the expiration of the warrants, the number of shares of common stock to be issued for each warrant that is exercised on a \u201ccashless basis\u201d pursuant to subsection 6.1.2 of the warrant agreement is 0.361 shares of common stock.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">Exercise Deadline and Procedures<\/span><\/b><\/p>\n<p>\nIf a holder of warrants does not wish for its warrants to be redeemed, such holder may exercise its warrants until 5:00 p.m., New York City time, on the Redemption Date. In connection with the redemption, warrant holders may elect to exercise their warrants (i) for cash, at an exercise price of $11.50 per share of common stock; or (ii) on a \u201ccashless basis\u201d in accordance with subsection 6.1.2 of the warrant agreement, in which case, the holder will receive 0.361 shares of common stock per warrant, which number was determined in accordance with the terms of the warrant agreement and based on the Redemption Date and the volume-weighted average price of the common stock during the ten trading days immediately following January 23, 2025, the date on which the notice of redemption was sent to holders of warrants. If a holder of warrants would be entitled to receive a fractional interest in a share of common stock as a result of warrants exercised at one time, the number of shares of common stock the holder will be entitled to receive will be rounded down to the nearest whole number of shares. <b>Any warrants that remain unexercised as of 5:00 p.m., New York City time, on the Redemption Date, will be void and no longer exercisable, and the holders of those warrants will be entitled to receive $0.10 per warrant.<\/b><\/p>\n<p>\nHolders of warrants wishing to exercise their warrants should follow the procedures described in the notice of redemption. Holders of warrants in \u201cstreet name\u201d should immediately contact their broker to determine their broker\u2019s procedure for exercising their warrants since the process to exercise is voluntary.<\/p>\n<p><b><span class=\"bwuline\">Additional Information<\/span><\/b><\/p>\n<p>\nThe public warrants are listed on the New York Stock Exchange under the ticker symbol \u201cGRND.WS.\u201d Grindr understands from the New York Stock Exchange that, as a result of the redemption of the outstanding warrants, the warrants will cease to be listed on the New York Stock Exchange, effective at the close of trading on February 21, 2025, which is the trading day prior to the Redemption Date.<\/p>\n<p>\nNone of Grindr, its board of directors or employees have made or are making any representation or recommendation to any warrant holder as to whether or not to exercise or refrain from exercising any warrants.<\/p>\n<p>\nThe shares of common stock underlying the warrants have been registered by Grindr under the Securities Act of 1933, as amended, and are covered by a registration statement filed with, and declared effective by, the Securities and Exchange Commission (Registration No. 333-268782).<\/p>\n<p>\nQuestions concerning redemption and exercise of the warrants can be directed to Continental Stock Transfer &amp; Trust Company, One State Street, 30th Floor, New York, NY 10004-1574, Attention: Compliance Department; telephone: 800-509-5586; or email: <a rel=\"nofollow\" href=\"mailto:compliance@continentalstock.com\">compliance@continentalstock.com<\/a>. For a copy of the notice of redemption or notice of redemption fair market value sent to the holders of the warrants and a prospectus relating to the shares of common stock issuable upon exercise of the warrants, please send an email request to <a rel=\"nofollow\" href=\"mailto:IR@grindr.com\">IR@grindr.com<\/a> or visit our website at <i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.grindr.com%2Foverview%2Fdefault.aspx&amp;esheet=54201789&amp;newsitemid=20250207077822&amp;lan=en-US&amp;anchor=https%3A%2F%2Finvestors.grindr.com%2Foverview%2Fdefault.aspx&amp;index=1&amp;md5=5caf139a870dff2318ac77a5095202c7\">https:\/\/investors.grindr.com\/overview\/default.aspx<\/a><\/i>.<\/p>\n<p><b><span class=\"bwuline\">No Offer or Solicitation<\/span><\/b><\/p>\n<p>\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Grindr, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.<\/p>\n<p><b><span class=\"bwuline\">Forward Looking Statements<\/span><\/b><\/p>\n<p>\nThis press release contains statements that may constitute forward-looking statements within the meaning of the federal securities laws and within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the use of terminology such as \u201canticipates,\u201d \u201capproximately,\u201d \u201cbelieves,\u201d \u201ccontinues,\u201d \u201ccould,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cgoal,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201coutlook,\u201d \u201cplans,\u201d \u201cpotential,\u201d \u201cpredicts,\u201d \u201cprojects,\u201d \u201cseeks,\u201d \u201cshould,\u201d \u201cupcoming,\u201d \u201cwill\u201d or the negative version of these words or other comparable words or phrases. These forward-looking statements include, among others, the expected Redemption Date of the warrants and the delisting of the warrants on the trading day prior to the Redemption Date. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are not guarantees of future performance and are subject to risks and uncertainties that may cause actual results to differ materially from expectations discussed in the forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including those discussed in the section titled \u201cRisk Factors\u201d in annual reports on Form 10-K and quarterly reports on Form 10-Q that we file with the Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and you should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, we are under no obligation (and expressly disclaim any such obligation) to update or revise our forward-looking statements, whether as a result of new information, future events, or otherwise.<\/p>\n<p><b><span class=\"bwuline\">Trademarks<\/span><\/b><\/p>\n<p>\nThis press release may contain trademarks of Grindr. Solely for convenience, trademarks referred to in this press release may appear without the \u00ae or TM symbols, but such references are not intended to indicate, in any way, that Grindr will not assert, to the fullest extent under applicable law, its rights to these trademarks.<\/p>\n<p><b><span class=\"bwuline\">About Grindr Inc.<\/span><\/b><\/p>\n<p>\nWith more than 14.5 million average monthly active users, Grindr has grown to become the Global Gayborhood in Your Pocket<sup>TM<\/sup>, on a mission to make a world where the lives of our global community are free, equal, and just. Available in 190 countries and territories, Grindr is often the primary way for its users to connect, express themselves, and discover the world around them. Since 2015 Grindr for Equality has advanced human rights, health, and safety for millions of LGBTQ+ people in partnership with organizations in every region of the world. Grindr has offices in West Hollywood, the Bay Area, Chicago, and New York. The Grindr app is available on the App Store and Google Play.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250207077822r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250207077822\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250207077822\/en\/<\/a><\/span><\/p>\n<p><b>Investors:<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:IR@grindr.com\">IR@grindr.com<br \/>\n<\/a><\/p>\n<p><b>Media:<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:Press@grindr.com\">Press@grindr.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Software Social Media Communications Consumer Electronics Technology Consumer LGBTQ+ Mobile\/Wireless<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants LOS ANGELES&#8211;(BUSINESS WIRE)&#8211; Grindr Inc. (NYSE: GRND) (\u201cGrindr\u201d or the \u201cCompany\u201d), the Global Gayborhood in Your PocketTM, today announced the \u201cRedemption Fair Market Value\u201d to be used in connection with the previously announced redemption of all of its outstanding public warrants and private placement warrants (collectively, the \u201cwarrants\u201d). Grindr previously announced that it will redeem all of its warrants that remain unexercised as of 5:00 p.m., New York City time, on February 24, 2025 (the \u201cRedemption Date\u201d), at a redemption price of $0.10 per warrant. The Redemption Fair Market Value will be used to determine the number of shares of the Company\u2019s common stock (the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-810616","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants LOS ANGELES&#8211;(BUSINESS WIRE)&#8211; Grindr Inc. (NYSE: GRND) (\u201cGrindr\u201d or the \u201cCompany\u201d), the Global Gayborhood in Your PocketTM, today announced the \u201cRedemption Fair Market Value\u201d to be used in connection with the previously announced redemption of all of its outstanding public warrants and private placement warrants (collectively, the \u201cwarrants\u201d). Grindr previously announced that it will redeem all of its warrants that remain unexercised as of 5:00 p.m., New York City time, on February 24, 2025 (the \u201cRedemption Date\u201d), at a redemption price of $0.10 per warrant. The Redemption Fair Market Value will be used to determine the number of shares of the Company\u2019s common stock (the &hellip; Continue reading &quot;Grindr Inc. 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Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/","og_locale":"en_US","og_type":"article","og_title":"Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants - Market Newsdesk","og_description":"Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants LOS ANGELES&#8211;(BUSINESS WIRE)&#8211; Grindr Inc. (NYSE: GRND) (\u201cGrindr\u201d or the \u201cCompany\u201d), the Global Gayborhood in Your PocketTM, today announced the \u201cRedemption Fair Market Value\u201d to be used in connection with the previously announced redemption of all of its outstanding public warrants and private placement warrants (collectively, the \u201cwarrants\u201d). Grindr previously announced that it will redeem all of its warrants that remain unexercised as of 5:00 p.m., New York City time, on February 24, 2025 (the \u201cRedemption Date\u201d), at a redemption price of $0.10 per warrant. The Redemption Fair Market Value will be used to determine the number of shares of the Company\u2019s common stock (the &hellip; Continue reading \"Grindr Inc. Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/","og_site_name":"Market Newsdesk","article_published_time":"2025-02-07T21:08:08+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250207077822r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/grindr-inc-announces-redemption-fair-market-value-in-connection-with-redemption-of-its-outstanding-warrants\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Grindr Inc. 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