Grindr Investor Presentation Deck
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KEY TRANSACTION HIGHLIGHTS
Tiga Acquisition Corp, a publicly listed SPAC, to combine with
Grindr
Grindr rollover equity to be valued at $1.6 billion
Tiga sponsor to invest up to $100 million in additional cash
equity pursuant to forward purchase agreement¹
TRANSACTION OVERVIEW
Existing Grindr shareholders to own approximately 78% of the
combined company at closing
ILLUSTRATIVE PF ENTERPRISE VALUE BUILD
Shares
Rollover Shares
Forward Purchase Agreement
Public Shareholders
Tiga Founder Shares
Pro forma Shares Outstanding
Share Price
Equity Value²
(+) Net Debt³
Pro forma Enterprise Value²
159.9
10.0
27.6
6.9
204.4
$10.00
$2,043.6
$45.3
$2,088.9
ILLUSTRATIVE SOURCES & USES (in millions)
Sources
TIGA Cash in Trust4
Forward Purchase Agreement¹
Cash at Closing
Bank Loan (Net of Fees)
Grindr Shareholders Rollover
Total Sources
Uses
Grindr Shareholders Rollover 5
Shareholder Distribution
Cash to Balance Sheet
Repayment of Existing Debt
Fees and Expenses
Total Uses
Rollover Equity; 78%
ILLUSTRATIVE PRO-FORMA OWNERSHIP²
Tiga Public Shareholders; 14%
(1) Forward purchase agreement assumes a range of $50M - $100M.
(2) Excludes shares underlying public and private warrants. Assumes no redemptions and a nominal price per share of $10.00, subject to customary closing conditions, including the approval of Tiga shareholders.
(3) Assumes no redemptions of public shares. Assumes Grindr's outstanding debt at closing amounts to $75M after repaying of Tiga sponsor loans. Net Debt may be larger than stated as a result of increasing levels of redemptions.
(4) Tiga cash in trust assumes no redemptions; cash may be reduced, including to the extent of Tiga stockholder redemptions.
(5) Does not include aggregate in the money option and warrant exercise price. Current Grindr equityholders will roll approximately 78% of their existing equity holdings into equity of the combined company.
(6) Approximately $230 million of Shareholder Distribution is expected to go toward payment of deferred consideration.
$284.4
100.0
88.0
75.0
1,598.6
$2,146.0
Sponsor; 3%
$1,598.6
370.0
15.1
137.3
25.0
$2,146.0
FPA Shareholders;
5%
CONFIDENTIAL
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