Grindr Amends, Extends, and Upsizes Credit Facility to $600 Million

WEST HOLLYWOOD, Calif.--(BUSINESS WIRE)--Grindr Inc. (NYSE: GRND), the Global Gayborhood in Your Pocket™, today announced that it amended, extended and upsized its syndicated revolving credit and term loan facility from $350 million to $600 million. The Term Loan A was upsized by $100 million to $400 million, while the revolving credit facility was upsized by $150 million to $200 million, and the maturities were extended from November 2028 to January 2031.

Proceeds will be used to refinance existing debt and for general corporate purposes. At closing, Grindr will add approximately $112 million of cash to its balance sheet, with the revolving credit facility remaining undrawn, resulting in approximately $312 million of total additional liquidity.

"We are pleased to successfully execute this transaction with the support of our existing bank group including J.P. Morgan, Bank of America, Capital One, Citizens Bank, and Silicon Valley Bank, along with two new lender partners, U.S. Bank and Wells Fargo. The upsized facility provides us with enhanced liquidity and an extended duration, and will provide further support to long-term growth investments," said John North, Chief Financial Officer of Grindr.

Forward Looking Statements

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About Grindr Inc.

With over 15 million average monthly active users, Grindr has grown to become the Global Gayborhood in Your Pocket™, on a mission to make a world where the lives of our global community are free, equal, and just. Available in 190+ countries and territories, Grindr is often the primary way for its users to connect, express themselves, and discover the world around them. Since 2015, Grindr for Equality has advanced human rights, health, and safety for millions of LGBTQ+ people in partnership with organizations in every region of the world. Grindr has offices in West Hollywood, the Bay Area, Chicago, and New York. The Grindr app is available on the App Store and Google Play.