---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-056855"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2024-06-28T23:59:59+00:00"
generated_at: "2026-06-01T00:38:22.996282+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Purple Innovation adopts NOL rights plan and proposes charter amendment to protect $238M net operating losses

## Summary
- Board declared dividend of one preferred share purchase right per common share, exercisable at $2.75, triggered at 4.9% ownership.
- Rights plan expires June 30, 2025; subject to stockholder ratification at special meeting.
- Proposed charter amendment voids transfers resulting in ownership >4.9% without board approval; requires stockholder vote.
- Company created Series C Junior Participating Preferred Stock with economic equivalent of one share of common stock.
- Estimated $238 million in NOLs at risk of limitation under Section 382 if ownership changes occur.

## SEC filing metadata
- accession: 0001213900-24-056855
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2024-06-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390024056855/0001213900-24-056855-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390024056855/ea0208641-8k_purple.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-056855
- JSON: https://secwatch.observer/filing/0001213900-24-056855.json
- Plain text: https://secwatch.observer/filing/0001213900-24-056855.txt

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