Grindr to Acquire Freddie, Expanding Access to HIV Prevention for Millions of Users (Form 8-K)

Grindr to Acquire Freddie, Expanding Access to HIV Prevention for Millions of Users

Acquisition accelerates Grindr Health, bringing PrEP into the Grindr app at little to no cost to users

Deal advances Grindr's commitment to connect 10 million LGBTQ+ people globally to HIV prevention directly through the app by 2028

LOS ANGELES - September 30, 2026 - Grindr Inc. (NYSE: GRND), the Global Gayborhood in Your Pocket™, today announced it has agreed to acquire PurposeMed Inc., the parent company of Freddie, a leading telehealth provider of PrEP and HIV prevention care, for $250 million in cash and stock. The transaction may include up to an additional $70 million in cash consideration based on the achievement of certain performance targets and is expected to close in Q4 2026, subject to applicable closing conditions.

This marks Grindr's first major acquisition since its founding and a significant step in building out the Global Gayborhood, leading with the company's health and wellness business Grindr Health. With the addition of Freddie, Grindr will make it easier for millions of users to learn about PrEP, connect with clinicians, access testing and prescriptions, and receive medication through the Grindr app.

PrEP reduces the risk of HIV by approximately 99%, and eligible US patients can access it at little to no out-of-pocket cost. About 650,000 people in the US are on PrEP today, despite an estimated 2.2 million who could benefit from it. Together, Grindr and Freddie will work to close that gap by allowing Grindr's millions of users to learn about, start, and easily stay on PrEP through the Grindr app.

"For generations of gay men, HIV shaped how we thought about intimacy, relationships, and our own futures. Today, we have the tools to prevent it. New infections should be close to zero, and that is what we are striving to achieve," said Grindr CEO and Chairman George Arison. "The challenge is connecting people to PrEP and helping them stay on it. Grindr has a direct line to millions of gay men, and Freddie brings the medical expertise to turn that reach into care. Together, we can revolutionize access to HIV prevention, just as Grindr revolutionized how gay men meet, and accelerate progress toward ending the HIV epidemic."

"We built Freddie to make HIV prevention simple and accessible for everyone who needs it. Today we estimate Freddie prevents a new HIV transmission across the US and Canada every day. No one reaches the Freddie community like Grindr does. Together we can bring that care to millions more people, inside the app they already use every day, and speed up the work of ending the HIV epidemic," said Dr. Husein Moloo, Co-founder and CEO of PurposeMed and Freddie. "I'm incredibly proud of what our team has built, and we're excited for this next chapter as part of Grindr."

Closing the PrEP Access Gap

PrEP use among gay and bisexual men in the US is growing by roughly 10% a year, yet most eligible men still aren't taking it. Grindr is uniquely positioned to help close that gap.

Freddie addresses this opportunity with a physician-led team, telehealth capabilities, testing relationships, pharmacy operations, patient-support infrastructure, and experience operating in a regulated healthcare environment. Founded in Canada in 2020, Freddie has since helped more than 55,000 patients in Canada and the United States access PrEP and now serves patients in all 50 US states. Freddie estimates that its patients' PrEP use prevents approximately 385 new HIV transmissions each year, more than one per day, saving the Canadian and US healthcare systems a combined $270 million to $580 million in future treatment costs annually.

One Connected Health Experience

Grindr will bring Freddie and Woodwork, Grindr's performance-medication offering, together into a single Grindr Health experience. Grindr users will have the choice to:

●Learn and get started: understand PrEP, review coverage, and begin an assessment.

●Connect with care: meet with a clinician, arrange testing, and receive a prescription when appropriate.

●Stay on care: have medication delivered, manage refills, receive reminders, and communicate with their care team.

Keeping testing, refills, and support in a familiar place helps patients stay engaged with the recurring care that makes prevention effective.

Importantly, participation will be entirely voluntary: Grindr users can choose whether or not to access care through Freddie; Freddie's patients can choose whether or not to use Grindr. Freddie's leadership team will join Grindr to continue building the business as a core pillar of the Global Gayborhood in Your Pocket: a platform that reflects the full range of how the global LGBTQ+ community lives, connects, and thrives.

Transaction Details

Under the terms of the agreement, Grindr will acquire PurposeMed Inc. (inclusive of the Freddie brand and its partnerships with affiliated clinical networks) for $250 million, consisting of $190 million in cash and $60 million in Grindr common stock. The agreement also includes the potential for up to $70 million in additional cash consideration tied to 2027 performance targets, payable in 2028. The transaction has been approved by the boards of both companies and is expected to close in Q4 2026, subject to applicable closing conditions.

Freddie expects to generate 2026 revenue of more than $80 million and more than $10 million in Adjusted EBITDA. Current Adjusted EBITDA margins reflect early-stage growth investments including the required infrastructure to build Freddie's US platform. Grindr expects the acquisition to have an immaterial impact on its 2026 financial results and will provide additional detail on the 2027 outlook on its third-quarter earnings call in November.

More information on Freddie's business can be found in the Shareholder Letter posted today on Grindr's investor relations website.

Conference Call Webcast Information

Grindr will host a live webcast today at 2:15 p.m. Pacific Time to discuss the acquisition. The webcast of the conference call can be accessed as follows:

Event: Freddie Acquisition Conference Call

Date: Wednesday, September 30, 2026

Time: 2:15 p.m. Pacific Time (5:15 p.m. Eastern Time)

Live Webcast Site: https://investors.grindr.com/

An archived webcast of the conference call will also be accessible on Grindr's Investor Relations page, https://investors.grindr.com/.

About Grindr Inc.

Since 2009, Grindr has changed how gay men meet and connect. More than a quarter of gay male relationships in America today began on Grindr. Built by gay people for gay people, Grindr serves nearly 16 million average monthly active users in virtually every country in the world, helping them express themselves, build relationships, and find community. Now, as the Global Gayborhood in Your Pocket™, Grindr is bringing the connections and services of a physical gayborhood into the app to serve more of gay men's everyday needs. Grindr Health brings together technology and clinical expertise to make it easier to access and manage health and wellness care. Since 2015, Grindr for Equality has worked with organizations in every region of the world to advance human rights, health, and safety for millions of people. Across its businesses and community partnerships, Grindr pursues one mission: to make a world where the lives of its global community are free, equal, and healthy.

About Freddie

Freddie (gofreddie.com) is the #1-rated online PrEP clinic in North America, and a leading telehealth platform built for the 2SLGBTQ+ community. With over 55,000 patients served across North America, Freddie provides accessible, judgment-free care across HIV prevention, sexual health, and an expanding range of health treatments through a seamless mix of online and in-person care. Freddie currently operates across Canada in Ontario, British Columbia, Alberta, Manitoba, and Saskatchewan, as well as across all 50 states and the District of Columbia, helping patients access affirming healthcare without the traditional barriers often associated with care.