---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-032859"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2023-02-10T23:59:59+00:00"
generated_at: "2026-06-19T18:03:52.691934+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-032859
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2023-02-10T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000119312523032859/0001193125-23-032859-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000119312523032859/d389586d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-032859
- JSON: https://secwatch.observer/filing/0001193125-23-032859.json
- Plain text: https://secwatch.observer/filing/0001193125-23-032859.txt

## Key facts
- Executive change
  Dawn Zier departed as director at Purple Innovation, Inc..
  - Action: not stand for reelection
  - Role: director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000119312523032859/0001193125-23-032859-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.