Coliseum Capital Management, LLC - 02 May 2025 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Reporting relationship: Director, 10%+ Owner
Issuer ticker: PRPL
Reported as of: 02 May 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 06 May 2025, 16:20:12 UTC
Prior SEC filing: 10 Apr 2025
Next SEC filing: 14 May 2025
Source filing: View source filing
Reporting owner signature: Coliseum Capital Management, LLC, By: /s/ Chivonne Cassar, Attorney-in-fact

Key filing fact

Coliseum Capital Management, LLC filed Form 4 for Purple Innovation, Inc. (PRPL) on 06 May 2025.

Key facts

This page summarizes Coliseum Capital Management, LLC's Form 4 filing for Purple Innovation, Inc. (PRPL).
1 reported transaction and 1 derivative row are listed below.
Accepted by SEC: 06 May 2025, 16:20.

Change

Previous filing in this sequence was filed on 10 Apr 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (6)

CIK 0001409751 Primary reporting owner

Coliseum Capital Management, LLC

Relationship: Director, 10%+ Owner
Address: 105 ROWAYTON AVENUE, ROWAYTON
Signature: Coliseum Capital Management, LLC, By: /s/ Chivonne Cassar, Attorney-in-fact
Signature date: 06 May 2025

CIK 0001409585

Coliseum Capital, LLC

Relationship: Director, 10%+ Owner
Address: 105 ROWAYTON AVENUE, ROWAYTON
Signature: Coliseum Capital, LLC, By: /s/ Chivonne Cassar, Attorney-in-fact
Signature date: 06 May 2025

CIK 0001356974

COLISEUM CAPITAL PARTNERS, L.P.

Relationship: Director, 10%+ Owner
Address: 105 ROWAYTON AVENUE, ROWAYTON
Signature: Coliseum Capital Partners, L.P., By: Coliseum Capital, LLC, its General Partner, By: /s/ Chivonne Cassar, Attorney-in-fact
Signature date: 06 May 2025

CIK 0001807345

Coliseum Capital Co-Invest III, L.P.

Relationship: Director, 10%+ Owner
Address: 105 ROWAYTON AVENUE, ROWAYTON
Signature: Coliseum Capital Co-Invest III, L.P., By: Coliseum Capital, LLC, its General Partner, By: /s/ Chivonne Cassar, Attorney-in-fact
Signature date: 06 May 2025

CIK 0001454123

Gray Adam

Relationship: Director, 10%+ Owner
Address: 105 ROWAYTON AVENUE, ROWAYTON
Signature: Adam Gray, By: /s/ Chivonne Cassar, Attorney-in-fact
Signature date: 06 May 2025

CIK 0001430708

Shackelton Christopher S

Relationship: Director, 10%+ Owner
Address: 105 ROWAYTON AVENUE, ROWAYTON
Signature: Christopher Shackelton, By: /s/ Chivonne Cassar, Attorney-in-fact
Signature date: 06 May 2025

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PRPL transaction Derivative

Warrant

Award

Transaction value
Shares: +6,557,377
Change %: +33%
Price
Shares after: 26,229,508
Date: 02 May 2025
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 6,557,377
Exercise price: $1.50
Footnotes: F1, F2, F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Pursuant to that certain Second Amendment to the Amended and Restated Credit Agreement, dated as of May 2, 2025, the Issuer issued the Warrants to certain of the Reporting Persons as partial consideration for a loan made to a subsidiary of Issuer, of which an aggregate amount of $20,000,000 was made by (a) Coliseum Capital Partners, L.P. ("CCP"), an investment limited partnership of which Coliseum Capital, LLC, a Delaware limited liability company ("CC"), is general partner and for which Coliseum Capital Management, LLC, a Delaware limited liability company ("CCM"), serves as investment adviser and (b) a separate account investment advisory client of CCM (the "Separate Account").

Footnote F2

As a result of the transaction reported herein, CCP directly owns 21,499,596 Warrants and the Separate Account directly owns 4,729,912 Warrants.

Footnote F3

Each Warrant entitles the holder to purchase one share of the Issuer's Class A common stock ("Class A Common Stock") at a price of $1.50 per share, subject to adjustment. The Warrants are subject to a contractual limitation such that a holder of the Warrants will not have the right to exercise its Warrants, to the extent that after giving effect to such exercise, the holder (together with its affiliates) would beneficially own in excess of 49.9% of the shares of Class A Common Stock outstanding immediately after giving effect to such exercise. As of the date of this Form 4, based on 108,221,494 shares of Class A Common Stock outstanding as of May 2, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 6, 2025, the Warrants could be exercised for an aggregate of 14,276,618 shares of Class A Common Stock.

Footnote F4

Christopher Shackelton ("Shackelton") and Adam Gray ("Gray") are managers of and have an ownership interest in each of CCM and CC. Coliseum Capital Co-Invest III, L.P. ("CCC III") is an investment limited partnership of which CC is general partner and for which CCM serves as investment adviser. Each of Shackelton, Gray, CCP, CCC III, the Separate Account, CC and CCM disclaims beneficial ownership of these securities except to the extent of that person's pecuniary interest therein.

SEC remarks

Gray is a director of the Issuer. As a result, the following persons may be deemed directors by deputization of the Issuer solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended: CCM, CC, CCP, CCC III and Shackelton.