"In a spirit of healing, the event is meant to be a catalyst for pause and reflection following the outpouring of violence that has gripped Baltimore and areas throughout the U.S.," concert organizers said, according to CNN.
Other stars in the music industry are expected to join Prince and his 3RDEYEGIRL band for the concert, the Baltimore Sun says.
Prince will pay tribute to the people of Baltimore, but will also address political and social issues throughout the country, CNN notes.
Like at Paisley Park, The Purple One is encouraging everyone to wear grey in honor of Gray "as a symbolic message of our shared humanity and love for one another, attendees are invited to wear something gray in tribute to all those recently lost in the violence," the Baltimore Sun says.
He's also recorded a new song titled "Baltimore," which he's expected to perform at the show.
Tickets for the show go on sale Wednesday on LiveNation.com An unspecified part of the proceeds from the show will go to Baltimore-based youth charities, NBC News reports.