Purple Innovation issues 1.5M shares to ACTI holders after stock fails to meet $5.00 threshold

Purple Innovation, Inc.

Issued 1,500,000 shares of Class A Common Stock to former ACTI securityholders on March 4, 2024.
Triggered by closing price not reaching $5.00 for 10 trading days in a 30-day window ending February 29, 2024.
Shares issued under Section 4(a)(2) exemption for non-public offerings.
Issuance stems from earnout provision in the August 31, 2022 Merger Agreement with ACTI.

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