4/A: Grindr Inc. Director J Michael Gearon Jr. Amends Form 4 Filing to Correctly Report Warrant Transactions

J Michael Gearon Jr., a director and 10% owner of Grindr Inc., filed an amended Form 4 to correct a previously unreported warrant transaction and reflect the accurate number of warrants held after a sale.

Summary

• This is an amended Form 4 filing by J Michael Gearon Jr., a director and 10% owner of Grindr Inc.
• The amendment corrects a previously unreported transaction involving warrants and updates the number of warrants held after a sale.
• On January 27, 2025, there was a pro rata distribution of 26,977 warrants from 28th Street to its members for no consideration, which was initially omitted from the prior Form 4.
• On February 10, 2025, 84,964 warrants were sold at prices ranging from $6.48 to $6.55, with a weighted average price of $6.5.
• The warrants are held indirectly through 28th Street Ventures LLC, where Gearon and The 1997 Gearon Family Trust are controlling members.
• The warrants were exercisable and originally scheduled to expire on November 18, 2027, but the issuer announced a redemption of outstanding warrants on January 23, 2025, which was completed on February 24, 2025.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily involves correcting a reporting error and disclosing warrant transactions. The warrant redemption could be seen as slightly negative for warrant holders.

Negatives

• The amended filing indicates an initial error in reporting a warrant transaction, suggesting a potential oversight in previous filings.

Risks

• The warrant redemption announced on January 23, 2025, and completed on February 24, 2025, could impact warrant holders.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, ensuring transparency in the market.

Stakeholder Impact

• Shareholders are informed about insider transactions, promoting transparency.
• Warrant holders are affected by the warrant redemption.

Key Dates