The SEC has declared effective the Registration Statement on Form S-4 for the business combination between Grindr and Tiga Acquisition Corp (NYSE: TINV). This marks a crucial step towards Grindr's public listing. The virtual extraordinary general meeting is scheduled for November 15, 2022, where stockholders will vote on the merger. Following the approval, TAC will be renamed Grindr Inc., with common stock listed on NYSE under the ticker 'GRND'. Grindr is recognized as the largest social network for the LGBTQ community, aiming to connect users globally.
The Board of Grindr has appointed George Arison as CEO and Vanna Krantz as CFO in preparation for the company's public listing. Arison, previously CEO of Shift Technologies, aims to enhance Grindr's growth within the LGBTQ community. Krantz, formerly CFO of Disney Streaming Services, is expected to support this transition effectively. This leadership change follows a strategic plan set during the SPAC transaction announcement in May 2022, aiming to strengthen Grindr's market position and profitability.
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Tiga Acquisition Corp. (NYSE:TINV) announced the issuance of 2,760,000 private placement warrants at $1.00 each, totaling $2,760,000. The proceeds from this sale were deposited into the Company’s Trust Account as of November 22, 2021. Each warrant allows the holder to purchase one Class A ordinary share at $11.50. The press release includes cautionary statements regarding forward-looking statements, acknowledging that the completion of transactions and proceeds deposit are subject to various conditions.
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Tiga Acquisition Corp. received a notice from the NYSE for non-compliance with Section 802.01E due to the late filing of its Q1 2021 Form 10-Q. The company has until November 24, 2021, to regain compliance by submitting the report. The NYSE may grant an additional six-month extension but reserves the right to initiate delisting if warranted. The delay in filing is attributed to the complexity of assessing warrant classifications based on an SEC staff statement. The company aims to file the report ahead of the deadline.
Tiga Acquisition Corp. announced the issuance of 2,760,000 private placement warrants to Tiga Sponsor LLC at $1.00 each, raising a total of $2,760,000. The proceeds were deposited into the Company’s Trust Account on May 20, 2021. Each warrant grants the holder the right to buy one Class A ordinary share at $11.50. This press release includes forward-looking statements about future transactions, which may not be completed as expected.
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