Grindr slides after $250 mln PurposeMed deal

Grindr

01/10/2026 17:03

** Grindr GRND.N shares tumble 8.8% to $14.07, its lowest since June 
** The LGBTQ+ dating platform agrees to acquire PurposeMed, parent of telehealth HIV-prevention provider Freddie, for $250 mln
** Deal comprises $190 mln in cash and $60 mln in stock; may include up to $70 mln in additional cash, tied to 2027 targets
** Acquisition aims to help millions of users with HIV-prevention - GRND
** GRND's first major acquisition since founding is expected to close in Q426 
** Including session's move, GRND up 3.9% YTD

 (Reporting by Jayasree Prabhu)
 ((jayasree.prabhu@thomsonreuters.com))