Cooley represents Grindr as it goes public in $2.1-bln SPAC deal
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The Cooley offices in Manhattan, New York City, U.S. REUTERS/Andrew Kelly
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(Reuters) – Gay dating app Grindr has tapped Cooley as its legal counsel as it goes public through a $2.1-billion acquisition by a Singapore-based blank-check company.
Attorneys from another large global law firm, Milbank, represented the special purpose acquisition company (SPAC), Tiga Acquisition Corp, according to a Monday statement from Grindr.
SPACs raise funds through initial public offerings to take private companies public. The alternative to traditional IPOs surged in popularity on Wall Street in 2020 and early 2021, but SPAC issuance has recently dropped and U.S. securities regulators have signaled a crackdown on them.
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According to a firm statement, Cooley’s team representing Grindr was led by San Francisco-based M&A partners Jamie Leigh and Garth Osterman as well as corporate partners Dave Peinsipp and Kristin VanderPas. Hong Kong-based corporate partner Will Cai also helped lead the deal.
Cooley has represented Grindr in the past, including defending the company against allegations in 2015 that it violated California state law by failing to inform users about membership cancellation policies. The case was dismissed in 2016.
From Milbank, New York-based capital markets partner Rod Miller and Singapore-based corporate partner David Zemans represented Tiga Acquisition Corp, according to a firm spokesperson.
Grindr said in an investor presentation on Monday that it has 11 million monthly active users and that its revenue grew 30% last year.
(NOTE: This story has been updated with the names of Milbank lawyers representing Tiga Acquisition Corp.)
Read more:
Gay dating app Grindr to go public in $2.1 billion SPAC deal
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Chinekwu Osakwe