Form 4: Grindr Inc. Director Zage Reports Significant Share and Warrant Transactions

Director George Raymond Zage III reports acquiring and transferring significant amounts of Grindr Inc. common stock and warrants, both directly and indirectly through related entities.

Summary

• George Raymond Zage III, a director and 10% owner of Grindr Inc., filed a Form 4 detailing changes in beneficial ownership.
• On February 13, 2025, Zage acquired 703,442 shares of common stock at $11.50 per share and 703,442 warrants.
• On February 19, 2025, Zage acquired 13,920,000 shares of common stock at $11.50 per share and 13,920,000 warrants through Tiga Eighty-Eight Pte Ltd.
• Zage directly owns 6,726,186 shares of common stock.
• Zage indirectly owns 85,926,333 shares through Tiga Eighty-Eight Pte Ltd and 895,175 shares through Big Timber Holdings, LLC.
• The filing addresses an error in a previous Form 4 regarding the exercise of 25,000 warrants.
• Shares and warrants were transferred between Tiga SVH Investments Ltd., Tiga Eighty-Eight Pte. Ltd., and Zage's direct ownership.
• The reporting person disclaims beneficial ownership of shares held by Tiga Eighty-Eight Pte. Ltd. except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document primarily reports transactions, with a minor negative due to the late filing and a corrected error. Overall, it's a neutral disclosure.

Negatives

• The Form 4 filing was submitted late due to an inadvertent administrative error.
• A previous Form 4 incorrectly reported the exercise of 25,000 warrants.

Risks

• The late filing indicates potential weaknesses in internal controls.
• The complexity of the ownership structure, involving multiple entities, could raise concerns about transparency.

Management Comments

• The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
• The inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Related Party Transactions

• Transactions involving Tiga Eighty-Eight Pte Ltd and Big Timber Holdings, LLC, entities related to the reporting person, are disclosed.

Stakeholder Impact

• The transactions could influence investor perception of the company's stock.

Key Dates

Keywords

Grindr Inc., Zage, Form 4, Beneficial Ownership, Common Stock, Warrants, Tiga Eighty-Eight Pte Ltd, Big Timber Holdings LLC, Director, Share Transactions