Grindr slides after $250 mln PurposeMed deal

By Reuters News

** 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

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