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LEHI, Utah, May 12, 2020 /PRNewswire/ --Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure Mattress," today announced the launch of an underwritten secondary public offering of 9,000,000 shares of its Class A common stock to be sold by InnoHold, LLC (the "Selling Stockholder"). The underwriters have a 30-day option period to purchase up to 1,350,000 additional shares of Class A common stock from the Selling Stockholder. The Selling Stockholder will receive all of the net proceeds from the offering. Purple is not selling any shares of Class A common stock in the offering and will not receive any proceeds from the offering, including from any exercise by the underwriters of their option to purchase additional shares from the Selling Stockholder. Following the closing of this offering, the remaining shares on the Form S-3 Registration Statement initially filed with the Securities and Exchange Commission on March 10, 2020 will not be eligible for resale. BofA Securities and Oppenheimer & Co. Inc. are acting as joint book-running managers for the offering. A registration statement (including a prospectus) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC"). Before you invest, you should read the prospectus in that registration statement and the other documents filed with the SEC and incorporated by reference therein for more complete information about Purple and this offering. You may obtain these documents free of charge by visiting EDGAR on the SEC's website at www.sec.gov. The offering is being made only by means of a prospectus, copies of which may be obtained on the SEC's website, www.sec.gov, or from BofA Securities, NC1-004-03-43,200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or [emailprotected]and Oppenheimer & Co. Inc., Attn: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, Phone (212) 667-8055, Fax (212) 667-6141, or [emailprotected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Purple Purple is a digitally-native vertical brand with a mission to help people feel and live better through innovative comfort solutions. We design and manufacture a variety of innovative, premium, branded comfort products, including mattresses, pillows, cushions, frames, sheets and more. Our products are the result of over 30 years of innovation and investment in proprietary and patented comfort technologies and the development of our own manufacturing processes. Our proprietary gel technology, Hyper-Elastic Polymer, underpins many of our comfort products and provides a range of benefits that differentiate our offerings from other competitors' products. We market and sell our products through our direct-to-consumer online channels, traditional retail partners, third-party online retailers and our owned retail showrooms. Forward Looking Statements Certain statements made in this release that are not historical facts are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements include but are not limited to statements about the proposed offering of shares of Class A common stock by the Selling Stockholder. Statements based on historical data are not intended and should not be understood to indicate the Company's expectations regarding future events. Forward-looking statements provide current expectations or forecasts of future events or determinations. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Factors that could influence the realization of forward-looking statements include the risk factors outlined in the "Risk Factors" section of the prospectus related to this offering, our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2020 and our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 11, 2020. Many of these risks and uncertainties have been, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Investor Contact:Brendon Frey, ICR[emailprotected]203-682-8200 Media Contact:Alecia Pulman,ICR[emailprotected]646-277-1200 Purple Innovation, Inc.Savannah HobbsDirector of Purple Communications[emailprotected] SOURCE Purple Innovation, Inc. Related Links https://purple.com/

Answer: Purple Innovation, Inc. Announces Launch of Secondary Public Offering of Class A Common Stock