New York — Gay dating app Grindr said on Monday it would go public through a merger with a blank-cheque acquisition firm — a deal that values it at $2.1bn and features Tiga Investments CEO Raymond Zage on both sides of the transaction.
Tiga Acquisition, the Singapore-based special purpose acquisition company that will merge with Grindr, is controlled by Zage. Under the deal, Grindr will receive $284m in cash from Tiga and up to $100m in a forward purchase agreement. It could not be learnt if the committee had a role in Grindr’s decision to explore a sale and merger with a Spac. A spokesperson for the US treasury department, that chairs the committee , did not respond to a request for comment.
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