On September 30, 2026, Grindr Inc. entered into a Securities Purchase Agreement to acquire PurposeMed Inc., the parent company of Freddie, a leading telehealth provider of PrEP and HIV prevention care. The transaction carries an aggregate base purchase price of $250 million, consisting of $190 million in cash and $60 million in Grindr common stock (3,851,684 shares valued at $15.58 per share). An earnout of up to $70 million in cash is contingent on PurposeMed achieving specific financial performance targets for the fiscal year ending December 31, 2027. The deal is expected to close in Q4 2026, subject to customary closing conditions including NYSE listing approval and a pre-closing restructuring of PurposeMed. Grindr operates as a social networking platform primarily serving the LGBTQ+ community.
