<SEC-DOCUMENT>0001140361-25-039186.txt : 20251024
<SEC-HEADER>0001140361-25-039186.hdr.sgml : 20251024
<ACCEPTANCE-DATETIME>20251024092704
ACCESSION NUMBER:		0001140361-25-039186
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20251024
DATE AS OF CHANGE:		20251024

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Grindr Inc.
		CENTRAL INDEX KEY:			0001820144
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-92044
		FILM NUMBER:		251414517

	BUSINESS ADDRESS:	
		STREET 1:		750 N. SAN VICENTE BLVD., SUITE RE 1400
		CITY:			WEST HOLLYWOOD
		STATE:			CA
		ZIP:			90069
		BUSINESS PHONE:		3107766680

	MAIL ADDRESS:	
		STREET 1:		750 N. SAN VICENTE BLVD., SUITE RE 1400
		CITY:			WEST HOLLYWOOD
		STATE:			CA
		ZIP:			90069

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Tiga Acquisition Corp.
		DATE OF NAME CHANGE:	20200804

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Zage George Raymond III
		CENTRAL INDEX KEY:			0001833678
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		C/O GRINDR INC.
		STREET 2:		750 N. SAN VICENTE BLVD. STE RE1400
		CITY:			WEST HOLLYWOOD
		STATE:			CA
		ZIP:			90069
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<headerData>
<submissionType>SCHEDULE 13D/A</submissionType>
<previousAccessionNumber>0001140361-22-043284</previousAccessionNumber>
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<coverPageHeader>
<amendmentNo>7</amendmentNo>
<securitiesClassTitle>Common Stock</securitiesClassTitle>
<dateOfEvent>10/24/2025</dateOfEvent>
<previouslyFiledFlag>false</previouslyFiledFlag>
<issuerInfo>
<issuerCIK>0001820144</issuerCIK>
<issuerCUSIP>39854F119</issuerCUSIP>
<issuerName>Grindr Inc.</issuerName>
<address>
<com:street1>750 N. San Vicente Boulevard, STE RE1400</com:street1>
<com:city>West Hollywood</com:city>
<com:stateOrCountry>CA</com:stateOrCountry>
<com:zipCode>90069</com:zipCode>
</address>
</issuerInfo>
<authorizedPersons>
<notificationInfo>
<personName>G. Raymond Zage, III</personName>
<personPhoneNum>65 6808 6288</personPhoneNum>
<personAddress>
<com:street1>Ocean Financial Centre, Level 40</com:street1>
<com:street2>10 Collyer Quay</com:street2>
<com:city>Singapore</com:city>
<com:stateOrCountry>U0</com:stateOrCountry>
<com:zipCode>049315</com:zipCode>
</personAddress>
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<reportingPersons>
<reportingPersonInfo>
<reportingPersonNoCIK>Y</reportingPersonNoCIK>
<reportingPersonName>Tiga Investments Eighty-Eight Pte Ltd</reportingPersonName>
<memberOfGroup>b</memberOfGroup>
<fundType>PF</fundType>
<citizenshipOrOrganization>U0</citizenshipOrOrganization>
<soleVotingPower>85926333</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>85926333</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
<aggregateAmountOwned>85926333</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>45.9</percentOfClass>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<commentContent>The percentage used herein is calculated based on 187,032,103 shares of the Common Stock of the Issuer reported on the Issuer's Current Report on Form 8-K filed on September 19, 2025.</commentContent>
</reportingPersonInfo>
<reportingPersonInfo>
<reportingPersonNoCIK>Y</reportingPersonNoCIK>
<reportingPersonName>Tiga Investments Pte. Ltd.</reportingPersonName>
<memberOfGroup>b</memberOfGroup>
<fundType>PF</fundType>
<citizenshipOrOrganization>U0</citizenshipOrOrganization>
<soleVotingPower>85926333</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
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<sharedDispositivePower>0</sharedDispositivePower>
<aggregateAmountOwned>85926333</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>45.9</percentOfClass>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<commentContent>The percentage used herein is calculated based on 187,032,103 shares of the Common Stock of the Issuer reported on the Issuer's Current Report on Form 8-K filed on September 19, 2025.</commentContent>
</reportingPersonInfo>
<reportingPersonInfo>
<reportingPersonNoCIK>Y</reportingPersonNoCIK>
<reportingPersonName>Big Timber Holdings, LLC</reportingPersonName>
<memberOfGroup>b</memberOfGroup>
<fundType>PF</fundType>
<citizenshipOrOrganization>U0</citizenshipOrOrganization>
<soleVotingPower>1060507</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>1060507</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
<aggregateAmountOwned>1060507</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>0.6</percentOfClass>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<commentContent>The percentage used herein is calculated based on 187,032,103 shares of the Common Stock of the Issuer reported on the Issuer's Current Report on Form 8-K filed on September 19, 2025.</commentContent>
</reportingPersonInfo>
<reportingPersonInfo>
<reportingPersonCIK>0001833678</reportingPersonCIK>
<reportingPersonName>Zage George Raymond III</reportingPersonName>
<memberOfGroup>b</memberOfGroup>
<fundType>PF</fundType>
<citizenshipOrOrganization>U0</citizenshipOrOrganization>
<soleVotingPower>94720123</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>94720123</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
<aggregateAmountOwned>94720123</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>50.6</percentOfClass>
<typeOfReportingPerson>IN</typeOfReportingPerson>
<commentContent>The percentage used herein is calculated based on 187,032,103 shares of the Common Stock of the Issuer reported on the Issuer's Current Report on Form 8-K filed on September 19, 2025.</commentContent>
</reportingPersonInfo>
</reportingPersons>
<items1To7>
<item1>
<securityTitle>Common Stock</securityTitle>
<issuerName>Grindr Inc.</issuerName>
<issuerPrincipalAddress>
<com:street1>750 N. San Vicente Boulevard, STE RE1400</com:street1>
<com:city>West Hollywood</com:city>
<com:stateOrCountry>CA</com:stateOrCountry>
<com:zipCode>90069</com:zipCode>
</issuerPrincipalAddress>
<commentText>This Amendment No. 7 (this "Amendment) to the Schedule 13D filed by the Reporting Persons on November 28, 2022, as amended from time to time ("Schedule 13D") relates to the Common Stock, par value $0.0001 per share (the "Common Stock") of Grindr Inc., a Delaware corporation (the "Issuer" or "Grindr"). Unless otherwise indicated, each capitalized term used but not defined in this Amendment shall have the meaning assigned to such term in the Schedule 13D.</commentText>
</item1>
<item4>
<transactionPurpose>Item 4 of this Schedule 13D is hereby amended and restated as follows:&#13;
&#13;
The information set forth in or incorporated by reference in Item 3 and Item 6 of this Schedule 13D is hereby incorporated by reference in its entirety into this Item 4. &#13;
&#13;
The Reporting Persons acquired the securities described in this Schedule 13D for investment purposes and intend to review their investments in the Issuer on a continuing basis. Any actions the Reporting Persons might undertake may be made at any time and from time to time without prior notice and will be dependent upon the Reporting Persons' review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future developments. &#13;
&#13;
The Reporting Persons intend to review their respective investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the outcome of any discussions referenced above, the Issuer's financial position and strategic direction, actions taken by the Issuer's board of directors, price levels of the Common Stock, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, the Reporting Persons may from time to time and at any time in the future take such actions with respect to the investment in the Issuer as they deem appropriate, including: (i) acquiring additional Common Stock and/or other equity, debt, notes or other securities of the Issuer, or derivative or other instruments that are based upon or relate to the value of the Common Stock or the Issuer (collectively, "Securities") in the open market or otherwise; (ii) disposing of any or all of their Securities in the open market or otherwise; (iii) engaging in any hedging or similar transactions with respect to the Securities; or (iv) considering, proposing or otherwise engaging in one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D.&#13;
&#13;
On October 13, 2025, the Reporting Persons and James Fu Bin Lu, a shareholder of the Issuer and the chairperson of the Issuer's board of directors ("Mr. Lu" and together with Longview Capital Group Limited and Longview Grindr Holdings Limited, each entities controlled by Mr. Lu, the "Mr. Lu Entities"), delivered a letter to the Issuer's board of directors announcing the intention of the Reporting Persons and the Mr. Lu Entities to file amendments to their respective Schedule 13D filings disclosing their intention to explore the possibility of acquiring the Issuer in a going private transaction through the acquisition of all of the Issuer's outstanding Common Stock (other than those shares of Common Stock that may be rolled over by the acquiring shareholders). A copy of such letter is filed herewith as Exhibit 1.&#13;
&#13;
On October 24, 2025, Mr. Lu and Mr. Zage delivered a preliminary and non-binding proposal to the Issuer (the "Proposal"), proposing to acquire all of the outstanding shares of the Issuer not already owned by the Reporting Persons or the Mr. Lu Entities, for $18.00 per share of Common Stock (the "Acquisition"). Mr. Lu and Mr. Zage will fund the Acquisition with a combination of equity and debt financing, subject to the terms and conditions set forth in the equity and debt financing documents, to be in place when the definitive agreements for the Acquisition are signed.&#13;
&#13;
If the Acquisition is completed, the Issuer's Common Stock will be delisted from the New York Stock Exchange, and the Issuer's obligation to file periodic reports under the Act will terminate. In addition, the consummation of the Acquisition could result in one or more of the actions specified in Item 4(a)-(j) of Schedule 13D, including the acquisition or disposition of securities of the Issuer, a merger or other extraordinary transaction involving the Issuer, a change to the board of directors of the Issuer (as the surviving company in the merger), and a change in the Issuer's charter and bylaws to reflect that the Issuer would become a privately held company.&#13;
 &#13;
No assurance can be given that any proposal, any definitive agreement or any transaction relating to the Acquisition will be entered into or consummated. The Proposal provides that a binding commitment with respect to the Acquisition will result only from the execution of definitive agreements, and then only on the terms and conditions provided in such documentation. Moreover, there can be no assurance that the Reporting Persons or the Mr. Lu Entities will or will not develop any alternative plans or proposals with respect to any of the foregoing matters or take any particular action or actions with respect to some or all of their holdings in the Issuer, or as to the timing of any such matters should they be so pursued by them. The Reporting Persons reserve the right, at any time and in each Reporting Person's sole discretion, to take or refrain from taking any of the actions set forth above.&#13;
 &#13;
The information disclosed in this Item 4 does not purport to be complete and is qualified in its entirety by reference to the Proposal, a copy of which is attached hereto as Exhibit 2, which is incorporated herein by reference in its entirety.</transactionPurpose>
</item4>
<item5>
<transactionDesc>Item 5(c) of this Schedule 13D is hereby amended and restated as follows:&#13;
&#13;
Reporting Person Mr. Zage, as sole equityholder in Tiga Investments, which is the sole equityholder in Tiga 88, and the Manager and sole member of Big Timber, has sole power to vote or direct the vote of and sole power to dispose or direct the disposition of 94,720,123 shares of the Issuer's Common Stock, subject to the information incorporated by reference into this Item 5.&#13;
&#13;
As a result of the Proposal, the Reporting Persons may be deemed to be members of a "group" with the Mr. Lu Entities pursuant to Section 13(d) of the Act, who are separately reporting beneficial ownership on Schedules 13D.  As of October 23, 2025, the Mr. Lu Entities beneficially own 23,893,322 shares of Common Stock.&#13;
&#13;
Accordingly, the Reporting Persons and the Mr. Lu Entities, as a group, would collectively own 118,613,445 shares of Common Stock. Such aggregate ownership represents 63.4% of the shares of Common Stock as of October 23, 2025.&#13;
&#13;
However, each Reporting Person expressly disclaims beneficial ownership of the Common Stock beneficially owned (or deemed to be beneficially owned) by any of the Mr. Lu Entities and neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission that any of the Reporting Persons beneficially owns any Common Stock that are beneficially owned (or deemed to be beneficially owned) by any of the Mr. Lu Entities. The Reporting Persons are only responsible for the information contained in this Schedule 13D and assume no responsibility for information contained in the Schedules 13D filed by the Mr. Lu Entities. The filing of this Schedule 13D shall not be construed as an admission that any of the Reporting Persons is, for purposes of Section 13(d) or 13(g) of the Act or for any other purpose, the beneficial owner of any securities (other than the securities directly held by such Reporting Person) covered by this Schedule 13D.</transactionDesc>
</item5>
<item6>
<contractDescription>Item 6 of this Schedule 13D is hereby amended and supplemented by adding the following text:&#13;
&#13;
The description of the proposal letter to the special committee of the board of directors of the Issuer set forth in Item 4 is incorporated herein by reference.</contractDescription>
</item6>
<item7>
<filedExhibits>The following exhibits are incorporated by reference into this Schedule 13D. &#13;
&#13;
Exhibit 1 Letter to the Issuer's board of directors dated October 13, 2025*&#13;
&#13;
Exhibit 2 Proposal letter to the special committee of the board of directors of the Issuer dated October 24, 2025&#13;
&#13;
* Previously filed</filedExhibits>
</item7>
</items1To7>
<signatureInfo>
<signaturePerson>
<signatureReportingPerson>Tiga Investments Eighty-Eight Pte Ltd</signatureReportingPerson>
<signatureDetails>
<signature>/s/ G. Raymond Zage, III</signature>
<title>Director</title>
<date>10/24/2025</date>
</signatureDetails>
</signaturePerson>
<signaturePerson>
<signatureReportingPerson>Tiga Investments Pte. Ltd.</signatureReportingPerson>
<signatureDetails>
<signature>/s/ G. Raymond Zage, III</signature>
<title>Director</title>
<date>10/24/2025</date>
</signatureDetails>
</signaturePerson>
<signaturePerson>
<signatureReportingPerson>Big Timber Holdings, LLC</signatureReportingPerson>
<signatureDetails>
<signature>/s/ G. Raymond Zage, III</signature>
<title>Member</title>
<date>10/24/2025</date>
</signatureDetails>
</signaturePerson>
<signaturePerson>
<signatureReportingPerson>Zage George Raymond III</signatureReportingPerson>
<signatureDetails>
<signature>/s/ G. Raymond Zage, III</signature>
<title>Zage George Raymond III</title>
<date>10/24/2025</date>
</signatureDetails>
</signaturePerson>
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<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>2
<FILENAME>ef20057673_ex2.htm
<DESCRIPTION>EXHIBIT 2
<TEXT>
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      <div style="text-align: right; font-style: italic; font-weight: bold;"><font style="font-style: normal;"> Exhibit 2</font><br>
      </div>
      <div style="font-style: italic; font-weight: bold;"> <br>
      </div>
      <div style="font-style: italic; font-weight: bold;">Strictly Confidential</div>
      <div><br>
      </div>
      <div>October 24, 2025</div>
      <div><br>
      </div>
      <div>Special Committee of the Board of Directors</div>
      <div>Grindr Inc.</div>
      <div><a name="z_cp_change_5"></a>750 N. San Vicente Blvd, Suite RE 1400<a name="z_cp_change_4"></a></div>
      <div><a name="z_cp_change_7"></a>West Hollywood, CA<a name="z_cp_change_6"></a>&#160;<a name="z_cp_change_9"></a>90069</div>
      <div>Attn: Chad Cohen (Chair), Michael Gearon and Dan Baer</div>
      <div>Cc: Lande Spottswood and Alex Robertson (Vinson &amp; Elkins)</div>
      <div><br>
      </div>
      <div>Dear Members of the Special Committee:&#160; </div>
      <div><br>
      </div>
      <div style="text-align: justify;">We, James Fu Bin Lu and George Raymond Zage III (together, the "Proposing Shareholders" or "we"), who along with our affiliated entities beneficially own in aggregate
        more than 60% of the outstanding shares of common stock of Grindr Inc. (the "Company"), are pleased to submit this non-binding proposal (the "Proposal") to acquire all of the outstanding shares of the Company's common stock not already owned by the
        Proposing Shareholders and their affiliates (the "Minority Shares") in a going-private transaction (the "Acquisition").&#160; </div>
      <div><br>
      </div>
      <div style="text-align: justify;">The terms and conditions upon which we are prepared to pursue the Acquisition are as follows.</div>
      <div><br>
      </div>
      <div>
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                <div style="text-align: justify;">1.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>Purchase Price</u>.&#160; The Proposing Shareholders are prepared to
                  offer for each share of common stock cash consideration of $18.00 per share (the "Offer Price"). This provides significant value to the Company&#8217;s minority shareholders and represents an approximately 51% premium over $11.96, the price of
                  the Company&#8217;s common stock on October 10, 2025, the trading day immediately prior to the day the Proposing Shareholders first informed the Company of their intention to explore a going-private transaction.</div>
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                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">2.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>Buyer</u>.&#160; The Proposing Shareholders intend to form an
                  acquisition vehicle (the "Buyer") for the purpose of implementing the Acquisition. The Proposing Shareholders may invite other existing shareholders of the Company to participate in the Acquisition. We do not currently have any agreement,
                  arrangement or understanding with any other shareholders of the Company with respect to the Acquisition. The Acquisition would result in the Company becoming wholly owned by the Buyer and delisted from the New York Stock Exchange.</div>
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                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">3.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>Funding</u>.&#160; The Proposing Shareholders have secured
                  significant expressions of interest for financing, including multiple highly confident letters. Key sources, once committed, include:</div>
              </td>
            </tr>

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            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
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              <div>Rollover equity totaling approximately 60% of the fully diluted issued and outstanding shares of the Company;</div>
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            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
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              <div>A $1.0 billion first-lien term loan facility;</div>
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            <td style="width: 18pt; vertical-align: top;"><a name="z_cp_change_43"></a>&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Investment of up to $100.0 million in new cash equity by the Proposing Shareholders and their affiliates; and</div>
            </td>
          </tr>

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            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Potentially identifying third-party common stock and structured equity to enhance our Proposal if required.&#160; </div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;"><a name="z_Hlk212193390"></a>We believe these sources, including the Proposing Shareholders' existing ownership and potentially the ownership of
        other existing shareholders, will be fully sufficient to fund the Acquisition, including payment for all Minority Shares (other than those that may roll over), refinancing of the Company's existing indebtedness (plus accrued interest and premiums),
        and all related transaction fees and expenses, while providing adequate working capital post-closing.&#160; </div>
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                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">4.</div>
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                <div style="text-align: justify;"><u>Due Diligence</u>.&#160; We are deeply familiar with the Company from
                  our existing majority equity investment and are confident in the Company's value based on publicly available information and other information available through our roles as members of the Company&#8217;s Board of Directors. We therefore expect
                  to be able to complete diligence on a highly expedited basis. To move expeditiously toward execution and a targeted closing in the first quarter of 2026, we request prompt execution of a mutually agreeable confidentiality agreement (or
                  confirmation from the Special Committee) to enable access to diligence materials for sharing with our financial and legal advisors. We have engaged Milbank LLP as our legal counsel to assist our work.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z871f5aecd7f3400f82232e5aa3cbd4ab" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 9pt;">
                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">5.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>Definitive Agreements</u>.&#160; We are prepared to promptly
                  negotiate and finalize mutually satisfactory definitive agreements with respect to the Acquisition and related transactions (the "Definitive Agreements"). The Definitive Agreements will provide for representations, warranties, covenants
                  and conditions which are typical, customary and appropriate for transactions of this type.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z73e417d2db6646a98d9f7c1b7ea83f4c" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 9pt;">
                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">6.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>Process</u>.&#160; We expect the Special Committee of the Board of
                  Directors will be exclusively authorized to consider and negotiate the Acquisition with the Proposing Shareholders. As majority shareholders proposing to acquire the remaining equity, the Proposing Shareholders believe the Acquisition
                  presents a conflict-minimized opportunity. Consistent with precedents in majority-led take-privates, we propose no go-shop rights or fiduciary outs, enabling efficient execution and prompt value realization for minority shareholders
                  thereby fulfilling the Special Committee's fiduciary duty to shareholders.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
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            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 9pt;">
                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">7.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>Management and Employees</u>.&#160; The Proposing Shareholders view
                  the management and employees of the Company as vital component of the Company&#8217;s success to date. We are firmly aligned with management and have no intentions of making any changes to the leadership of the Company in connection with the
                  Acquisition. We are also committed to establishing a program and facilitating access to the necessary liquidity to enable participants in the Company&#8217;s existing equity incentive plan and any successor plans to monetize their awards
                  fairly.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z9490a56d69f94e7ca50d360afa5a1667" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 9pt;">
                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">8.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>Confidentiality</u>.&#160; We will, as required by law, file
                  amendments to our Schedules 13D with the U.S. Securities and Exchange Commission to disclose this Proposal. However, we are sure you will agree with us that it is in all of our interests to ensure that our discussions relating to the
                  Acquisition proceed in a strictly confidential manner, unless otherwise required by law, until we have executed the Definitive Agreements or terminated our discussions.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
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            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 9pt;">
                <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;">9.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><u>No Binding Commitment</u>.&#160; This Proposal constitutes only a
                  preliminary indication of our interest, and does not constitute any binding commitment with respect to the Acquisition. A binding commitment will result only from the execution of Definitive Agreements, and then will be on terms and
                  conditions provided in such documentation.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">The Proposing Shareholders believe this Proposal delivers immediate and certain value to all shareholders at a premium to recent trading prices and positions the
        Company for focused growth as a private entity.&#160; We firmly believe in the Company&#8217;s business and are not interested in selling our shares to a third party. We have been committed investors since acquiring a majority stake and have conviction in the
        Company and its future prospects. We request the Company's response by October 31, 2025, including confirmation of diligence access. Should you have any questions regarding this Proposal, please do not hesitate to contact us or our advisors at
        Milbank, and for media related inquiries, please contact Sbruce@ascadvisors.com and Tingraham@ascadvisors.com (tel: 203-992-1230). We look forward to your prompt consideration and working together to complete the Acquisition.&#160; </div>
      <div><br>
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          <tr>
            <td style="width: 20%; vertical-align: top;">
              <div>Sincerely,&#160; </div>
            </td>
            <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ James Fu Bin Lu</div>
            </td>
            <td style="width: 30%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top;">
              <div>James Fu Bin Lu<br>
              </div>
            </td>
            <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ George Raymond Zage, III</div>
            </td>
            <td style="width: 30%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top;">
              <div>George Raymond Zage, III</div>
            </td>
            <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <div><br>
        <div><br>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ef20057673_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;"> Exhibit 99.1</font><br>
    </div>

    <div>
      <div><br>
         </div>

      <div style="text-align: center; margin-right: 4.7pt; margin-left: 5.3pt; font-weight: bold;">ANNEX A</div>

      <div>&#160;</div>

      <div style="text-align: center; margin-right: 4.7pt; margin-left: 4.55pt; font-weight: bold;">CONTROL PERSONS, DIRECTORS AND EXECUTIVE OFFICERS OF</div>

      <div style="text-align: center; margin-right: 4.7pt; margin-left: 4.6pt; font-weight: bold;">TIGA INVESTMENTS EIGHTY-EIGHT PTE LTD, BIG TIMBER HOLDINGS, LLC AND TIGA INVESTMENTS PTE. LTD.</div>

      <div><br>
         </div>

      <div style="text-align: justify;">The following table sets forth the name, position, address, principal occupation and citizenship of each control person, director and/or executive officer of Tiga Investments Eighty-Eight Pte Ltd,
        Big Timber Holdings, LLC and Tiga Investments Pte. Ltd. (each an &#8220;<font style="font-weight: bold;">Instruction C Person</font>&#8221;). To the best of the Reporting Person&#8217;s knowledge, (i) none of the Instruction C Persons during the last five years has
        been convicted in a criminal proceeding (excluding traffic violations or other similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is
        subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws and (ii) none of the Instruction C
        Persons owns any shares of Common Stock of the Issuer or is party to any contract or agreement as would require disclosure in this Schedule 13D.</div>

      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z1829e96a6b2746eea6037e359f8e4d6a">

          <tr>
            <td style="width: 1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 22%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;"><u>Name and Position of</u></div>
              <div style="font-weight: bold;"><u>Officer or Director</u></div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 27%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;"><u>Principal Business Address</u></div>
              <div style="text-align: center; font-weight: bold;"><u>or Residence</u></div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;"><u>Principal Occupation or</u></div>
              <div style="text-align: center; font-weight: bold;"><u>Employment</u></div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;"><u>Citizenship</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 22%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>G. Raymond Zage, III</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 27%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Ocean Financial Centre Level 40, 10 Collyer Quay</div>
              <div>Singapore, Singapore 049315</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 32%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Director of Tiga Investments Eighty-Eight Pte Ltd</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Singapore</div>
            </td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 22%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>G. Raymond Zage, III</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Ocean Financial Centre Level 40, 10 Collyer Quay</div>
              <div>Singapore, Singapore 049315</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Sole member of Big Timber Holdings, LLC</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Singapore</div>
            </td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 22%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>G. Raymond Zage, III</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 27%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Ocean Financial Centre Level 40, 10 Collyer Quay</div>
              <div>Singapore, Singapore 049315</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 32%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Director of Tiga Investments Pte. Ltd.</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: top; background-color: rgb(204, 237, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Singapore</div>
            </td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 22%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Ashish Gupta</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Ocean Financial Centre Level 40, 10 Collyer Quay</div>
              <div>Singapore, Singapore 049315</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Managing director of Tiga Investments Pte. Ltd.</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>India</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
    </div>
    <div><br>
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</SEC-DOCUMENT>
