Grindr to acquire PurposeMed's Freddie for $250M; up to $70M earnout tied to 2027 targets

Grindr Inc.

$250M deal: $190M cash plus $60M stock (3,851,684 GRND shares at $15.58 VWAP, 12-month lock-up); up to $70M cash earnout on FY2027 targets.
PurposeMed runs Freddie, a telehealth PrEP provider with >55,000 patients served since 2020, now in all 50 states; 2026 revenue expected >$80M and >$10M Adjusted EBITDA.
Grindr expects acquisition immaterial to 2026 results; 2027 outlook to come on Q3 earnings call in November; deal expected to close Q4 2026.
Grindr cites ~400,000 US users already on PrEP and 2M+ more it estimates should be; PrEP reduces HIV risk ~99% and is little/no cost to eligible US patients.
Freddie leadership to join Grindr Health; shareholder letter projects 40%+ healthcare margin at maturity, mid-teens expected Adjusted EBITDA margin.

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