BUZZ-Grindr shares fall after 250 millions USD deal with PurposeMed

October 1 - ** Grindr GRND.N shares plummeted 8.8% to $14.07, marking their lowest level since June

** The LGBTQ+ dating platform (link) agreed to acquire PurposeMed—the parent company of remote HIV prevention services provider Freddie—for $250 million

** The deal includes $190 million in cash and $60 million in stock, and may also include up to an additional $70 million in cash depending on 2027 performance targets

** GRND stated that the acquisition is intended to help millions of users with HIV prevention

** This is GRND's first major acquisition since its founding, and it is expected to close in the fourth quarter of 2026

** Including intraday trading, GRND has gained 3.9% year to date

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