---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-020285"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2024-03-06T23:59:59+00:00"
generated_at: "2026-06-05T02:42:30.492225+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-24-020285
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2024-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390024020285/0001213900-24-020285-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390024020285/ea0201127-8k_purple.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-020285
- JSON: https://secwatch.observer/filing/0001213900-24-020285.json
- Plain text: https://secwatch.observer/filing/0001213900-24-020285.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.