secwatch.observer — SEC 8-K summary
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Issuer:     Purple Innovation, Inc. (PRPL)
CIK:        0001643953
Form:       8-K
Filed at:   2023-02-10T23:59:59+00:00
Accession:  0001193125-23-032859
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1643953/000119312523032859/0001193125-23-032859-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1643953/000119312523032859/d389586d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-032859

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