Purple Innovation, Inc. (PRPL): debt financing — Purple Innovation ups term loan by $19M to $80M, grants warrants for 6.2M shares at $1.50

Purple Innovation, Inc.

Amended credit agreement increases senior secured term loan facility from up to $61M to up to $80M on March 12, 2025.
Issued warrants to purchase 6,229,508 shares of Class A common stock at $1.50 per share to the 2025 Term Loan Lenders.
Incremental loan bears same interest rate as initial loan; fees include 2% of outstanding principal paid in kind.
Entered into Second Amended and Restated Registration Rights Agreement providing for registration of warrants and underlying shares.
Loan Parties may request up to $20M in additional term loans on terms subject to Required Lenders' approval.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Purple Innovation, Inc. amended credit facility of increase in the initial principal amount of the senior secured term loan facility by $19.0 million with 2025 Term Loan Lenders at bear interest at the same rate as the Initial Loan.

Instrument: credit facility
Principal: increase in the initial principal amount of the senior secured term loan facility by $19.0 million
Counterparty: 2025 Term Loan Lenders
Rate: bear interest at the same rate as the Initial Loan
Event: amendment

Exact text from the filing

The Amendment, among other things, provides for an increase in the initial principal amount of the senior secured term loan facility by $19.0 million (the “Incremental Loan”) from an aggregate principal amount of up to $61.0 million (the “Initial Loan”) to an initial aggregate principal amount of up to $80.0 million (the “Loan”)

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Purple Innovation, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-023703

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