Purple Innovation reports $41.8M cash; amendment requires $40M equity raise

Purple Innovation, Inc.

Preliminary Dec 31, 2022 cash on hand ~$41.8M; term loan balance ~$24.7M as of Feb 8, 2023.
Amendment to 2020 Credit Agreement agreed in principle, contingent on paying off term loan and raising ≥$40M in equity.
Amendment waives leverage and fixed charge coverage covenants for Q1 and Q2 2023, sets EBITDA minimums.
Director Dawn Zier will not stand for reelection at 2023 annual meeting, citing other commitments; no disagreement with company.
Company experienced a 2022 spear-phishing attack; expects costs up to $250,000.

item 2.02 item 5.02 item 8.01

Executive movements

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Departed

Dawn Zier

director

PRPL · Purple Innovation, Inc.

Filed: February 10, 2023, 6:59 PM ET

On February 9, 2023, Dawn Zier, a member of the Company’s board of directors since November 2020, notified the Company of her decision to not stand for reelection at the Company’s 2023 annual meeting of stockholders, in order to prioritize her time to other commitments.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Dawn Zier departed as director at Purple Innovation, Inc..

Action: not stand for reelection
Role: director

Exact text from the filing

On February 9, 2023, Dawn Zier, a member of the Company’s board of directors since November 2020, notified the Company of her decision to not stand for reelection at the Company’s 2023 annual meeting of stockholders, in order to prioritize her time to other commitments.

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Purple Innovation, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-032859

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