--- schema_version: "secwatch.filing_event.v1" accession: "0001213900-24-005735" form_type: "8-K" ticker: "PRPL" cik: "0001643953" company_name: "Purple Innovation, Inc." filed_at: "2024-01-23T23:59:59+00:00" generated_at: "2026-06-06T20:04:48.262896+00:00" event_type: "debt" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Purple Innovation closes $61M refinancing; issues 20M warrants at $1.50/share ## Summary - New $61M term loan from Coliseum Capital, Blackwell, Harvest funds, with net proceeds ~$27M after expenses. - Cash and equivalents rose from ~$26M to ~$48M post-closing; ABL facility terminated. - Lenders received warrants to purchase 20M shares of Class A common stock at $1.50 per share. - Loan bears interest at SOFR + 8.25% (or 10.25% PIK); maturity Dec 31, 2026; incremental loan option of up to $19M. - Company reaffirms previously provided 2023 net revenue and adjusted EBITDA guidance. ## SEC filing metadata - accession: 0001213900-24-005735 - form_type: 8-K - ticker: PRPL - cik: 0001643953 - company_name: Purple Innovation, Inc. - filed_at: 2024-01-23T23:59:59+00:00 - event_type: debt - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.02, 2.03, 3.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/0001213900-24-005735-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/ea192025-8k_purple.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001213900-24-005735 - JSON: https://secwatch.observer/filing/0001213900-24-005735.json - Plain text: https://secwatch.observer/filing/0001213900-24-005735.txt ## Key facts - Debt Financings Purple Innovation, Inc. incurred term loan of $61.0 million with Coliseum Capital Partners, L.P., Blackwell Partners LLC – Series A, Harvest Small Cap Partners Master, Ltd., Harvest Small Cap Partners, L.P., and HSCP Strategic IV, L.P. at secured overnight financing rate as administered by the Federal Reserve Bank of maturing December 31, 2026. - Instrument: term loan - Principal: $61.0 million - Counterparty: Coliseum Capital Partners, L.P., Blackwell Partners LLC – Series A, Harvest Small Cap Partners Master, Ltd., Harvest Small Cap Partners, L.P., and HSCP Strategic IV, L.P. - Rate: secured overnight financing rate as administered by the Federal Reserve Bank of - Maturity: December 31, 2026 - Event: incurrence source text: Agreement and, pursuant to the Second Amendment and the Amended and Restated Credit Agreement, have agreed to refinance existing obligations with a term loan in the amount of $61.0 million, to Purple Innovation, LLC, an operating subsidiary of the Company (“Purple LLC”). Immediately preceding the transaction, net liquidity, including cash and cash equivalents as evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/0001213900-24-005735-index.htm - Earnings Releases Purple Innovation, Inc. updated its 2023 guidance (reaffirmed). - Period: 2023 - Guidance: reaffirmed - Result: guidance update source text: The press release also reaffirmed the Company’s previously provided guidance for net revenue and adjusted EBITDA for 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/0001213900-24-005735-index.htm - Material Agreements Purple Innovation, Inc. terminated ABL Agreement with Bank of Montreal and the ABL Lenders valued at All obligations under the ABL Agreement have been paid in full and the ABL Agreement has been termin (effective 2024-01-23). - Action: termination - Agreement: credit facility - Counterparty: Bank of Montreal and the ABL Lenders - Value: All obligations under the ABL Agreement have been paid in full and the ABL Agreement has been termin - Effective: 2024-01-23 source text: In connection with the entry into the Second Amendment and the Amended and Restated Credit Agreement, all obligations under the ABL Agreement have been paid in full and the ABL Agreement has been terminated. evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/0001213900-24-005735-index.htm - Material Agreements Purple Innovation, Inc. amended Amended and Restated Credit Agreement with Coliseum Capital Partners, L.P., Blackwell Partners LLC – Series A, Harvest Small Cap Partners Master, Ltd., Harvest Small Cap Partners, L.P., HSCP Strategic IV, L.P. valued at $61.0 million term loan (effective 2024-01-23). - Action: amendment - Agreement: credit facility - Counterparty: Coliseum Capital Partners, L.P., Blackwell Partners LLC – Series A, Harvest Small Cap Partners Master, Ltd., Harvest Small Cap Partners, L.P., HSCP Strategic IV, L.P. - Value: $61.0 million term loan - Effective: 2024-01-23 source text: On January 23, 2024, the Loan Parties entered into a Second Amendment to Term Loan Agreement (the “Second Amendment”) and concurrently therewith an Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement), which amended and restated the Term Loan Agreement, with Coliseum Capital Partners, L.P. (“CCP”), Blackwell Partners LLC – Series A (“Blackwell”), Harvest Small Cap Partners Master, Ltd. (“Harvest Master”), Harvest Small Cap Partners, L.P. (“Harvest Partners”), and HSCP Strategic IV, L.P. (“HSCP” and together with CCP, Blackwell, Harvest Master, and Harvest Partners, the “Lenders”) and Delaware Trust Company, as administrative agent. evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/0001213900-24-005735-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.