Gay dating app Grindr to go public via blank-cheque company | Economy

Take care of Tiga Acquisition Corp will elevate $384m, in accordance with regulatory filings.

Standard homosexual relationship app Grindr has agreed to go public by a blank-cheque agency whose founder was a part of a consortium that purchased the corporate in 2020, in accordance with a submitting with the US Securities and Change Fee on Monday.

The take care of Tiga Acquisition Company will elevate $384m together with $284m of the special-purpose acquisition firm’s (SPAC) money in belief plus as much as $100m in a ahead buy settlement, valuing the corporate at $2.1bn together with debt, in accordance with the submitting.

The relationship app was valued at $620m when it was bought in 2020 by its Chinese language proprietor.

Tiga Acquisition Corp went public in November 2020 to boost $240m, just a few months after the Grindr sale. The SPAC must liquidate later this month if it failed to achieve a take care of a possible merger goal, after a number of extensions of the liquidation deadline.

Raymond Zage III, the founder and CEO of the SPAC, was a member of San Vicente, a consortium of buyers that purchased Grindr from Beijing’s Kunlun Tech Co in 2020.

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