Purple settles proxy fight with Coliseum; board adds 3 new directors, redeems preferred stock, ends poison pill

Purple Innovation, Inc.

Board expands to 8; Paul Zepf and Pano Anthos resign; Adam Gray becomes Chair; Gary DiCamillo remains Lead Independent Director.
Coliseum nominees Hoby Darling, Carter Pate, and Erika Serow join board; Scott Peterson added to slate for 2023 annual meeting.
Purple will redeem Proportional Representation Preferred Linked Stock and terminate September 2022 stockholder rights agreement (poison pill).
Coliseum drops litigation, agrees to standstill through 2024 annual meeting and not to exceed 44.7% ownership, subject to exceptions.
Company to reimburse Coliseum up to $4M in legal fees; 2023 annual meeting to be held by June 16, 2023.

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