secwatch.observer — SEC 8-K summary
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Issuer:     Purple Innovation, Inc. (PRPL)
CIK:        0001643953
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0001213900-24-005735
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Purple Innovation closes $61M refinancing; issues 20M warrants at $1.50/share
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/0001213900-24-005735-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1643953/000121390024005735/ea192025-8k_purple.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-005735

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer