# EDGAR Filing Document

**Accession Number:** 0001409751
**File Stem:** 0001193125-23-009561
**Filing Date:** 2023-1
**Character Count:** 30237
**Document Hash:** 643fae6db5a9f09975f62477fc6c3b4d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-009561.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001193125-23-009561

**CONFORMED SUBMISSION TYPE**: SC 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**GROUP MEMBERS**: ADAM GRAY

**GROUP MEMBERS**: CHRISTOPHER SHACKELTON

**GROUP MEMBERS**: COLISEUM CAPITAL CO-INVEST III, L.P.

**GROUP MEMBERS**: COLISEUM CAPITAL PARTNERS, L.P.

**GROUP MEMBERS**: COLISEUM CAPITAL, LLC

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Purple Innovation, Inc.
- **CENTRAL INDEX KEY:** 0001643953
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOUSEHOLD FURNITURE [2510]
- **IRS NUMBER:** 474078206
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-88966
- **FILM NUMBER:** 23532204

**BUSINESS ADDRESS:**
- **STREET 1:** 4100 N. CHAPEL RIDGE RD
- **STREET 2:** SUITE 200
- **CITY:** LEHI
- **STATE:** UT
- **ZIP:** 84043
- **BUSINESS PHONE:** 801-756-2600

**MAIL ADDRESS:**
- **STREET 1:** 4100 N. CHAPEL RIDGE RD
- **STREET 2:** SUITE 200
- **CITY:** LEHI
- **STATE:** UT
- **ZIP:** 84043

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Global Partner Acquisition Corp.
- **DATE OF NAME CHANGE:** 20150602
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Coliseum Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001409751
- **IRS NUMBER:** 223918079
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 105 ROWAYTON AVENUE
- **CITY:** ROWAYTON
- **STATE:** CT
- **ZIP:** 06853
- **BUSINESS PHONE:** 203-883-0100

**MAIL ADDRESS:**
- **STREET 1:** 105 ROWAYTON AVENUE
- **CITY:** ROWAYTON
- **STATE:** CT
- **ZIP:** 06853

------

------

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

------

**SCHEDULE 13D/A** 

**Under the Securities Exchange Act of 1934** 

**(Amendment No. 24)\*** 

------

## PURPLE INNOVATION, INC.
**(Name of Issuer)** 

**Class A Common Stock, par value $0.0001 per share** 

**(Title of Class of Securities)** 

**74640Y 106** 

**(CUSIP Number)** 

**Christopher Shackelton/Adam Gray** 

**105 Rowayton Avenue** 

**Rowayton, CT 06853** 

***with a copy to:***

**Debevoise & Plimpton LLP** 

**Attention: William D. Regner, Esq.** 

**919 Third Avenue** 

**New York, NY 10022** 

**(212) 909-6000** 

**(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)** 

**January 13, 2023** 

**(Date of Event Which Requires Filing of this Statement)** 

------

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §240.13d-1(e), §240.13d-1(f) or §240.13d-1(g), check the following box. ☐

The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("<u>Act</u>") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see Notes).

------

CUSIP No. 74640Y 106 13D/A Page 2 of 11

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of reporting persons. &nbsp;&nbsp;&nbsp;&nbsp; Coliseum Capital Management, LLC

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box
if a member of a group (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☐ (b) ☒

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC use only

4. &nbsp;&nbsp;&nbsp;&nbsp; Source of funds (see
instructions) &nbsp;&nbsp;&nbsp;&nbsp; AF

5. &nbsp;&nbsp;&nbsp;&nbsp; Check if disclosure of
legal proceedings is required pursuant to Items 2(d) or 2(e) &nbsp;&nbsp;&nbsp;&nbsp; ☐

6. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or place of
organization &nbsp;&nbsp;&nbsp;&nbsp; Delaware

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;40,854,130 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;9. | &nbsp;&nbsp;&nbsp;&nbsp;Sole dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | 10. | &nbsp;&nbsp;&nbsp;&nbsp;Shared dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;40,854,130 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 40,854,130

12. &nbsp;&nbsp;&nbsp;&nbsp; Check if the aggregate
amount in Row (11) excludes certain shares (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; ☐

13. &nbsp;&nbsp;&nbsp;&nbsp; Percent of class
represented by amount in Row (11) &nbsp;&nbsp;&nbsp;&nbsp; 44.7%

14. &nbsp;&nbsp;&nbsp;&nbsp; Type of reporting person
(see instructions) &nbsp;&nbsp;&nbsp;&nbsp; IA

------

CUSIP No. 74640Y 106 13D/A Page 3 of 11

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of reporting persons. &nbsp;&nbsp;&nbsp;&nbsp; Coliseum Capital, LLC

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box
if a member of a group (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☐ (b) ☒

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC use only

4. &nbsp;&nbsp;&nbsp;&nbsp; Source of funds (see
instructions) &nbsp;&nbsp;&nbsp;&nbsp; AF

5. &nbsp;&nbsp;&nbsp;&nbsp; Check if disclosure of
legal proceedings is required pursuant to Items 2(d) or 2(e) &nbsp;&nbsp;&nbsp;&nbsp; ☐

6. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or place of
organization &nbsp;&nbsp;&nbsp;&nbsp; Delaware

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;33,475,078 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;9. | &nbsp;&nbsp;&nbsp;&nbsp;Sole dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | 10. | &nbsp;&nbsp;&nbsp;&nbsp;Shared dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;33,475,078 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 33,475,078

12. &nbsp;&nbsp;&nbsp;&nbsp; Check if the aggregate
amount in Row (11) excludes certain shares (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; ☐

13. &nbsp;&nbsp;&nbsp;&nbsp; Percent of class
represented by amount in Row (11) &nbsp;&nbsp;&nbsp;&nbsp; 36.6%

14. &nbsp;&nbsp;&nbsp;&nbsp; Type of reporting person
(see instructions) &nbsp;&nbsp;&nbsp;&nbsp; OO

------

CUSIP No. 74640Y 106 13D/A Page 4 of 11

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of reporting persons. &nbsp;&nbsp;&nbsp;&nbsp; Coliseum Capital Partners, L.P.

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box
if a member of a group (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☐ (b) ☒

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC use only

4. &nbsp;&nbsp;&nbsp;&nbsp; Source of funds (see
instructions) &nbsp;&nbsp;&nbsp;&nbsp; WC

5. &nbsp;&nbsp;&nbsp;&nbsp; Check if disclosure of
legal proceedings is required pursuant to Items 2(d) or 2(e) &nbsp;&nbsp;&nbsp;&nbsp; ☐

6. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or place of
organization &nbsp;&nbsp;&nbsp;&nbsp; Delaware

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;30,341,629 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;9. | &nbsp;&nbsp;&nbsp;&nbsp;Sole dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | 10. | &nbsp;&nbsp;&nbsp;&nbsp;Shared dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;30,341,629 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 30,341,629

12. &nbsp;&nbsp;&nbsp;&nbsp; Check if the aggregate
amount in Row (11) excludes certain shares (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; ☐

13. &nbsp;&nbsp;&nbsp;&nbsp; Percent of class
represented by amount in Row (11) &nbsp;&nbsp;&nbsp;&nbsp; 33.2%

14. &nbsp;&nbsp;&nbsp;&nbsp; Type of reporting person
(see instructions) &nbsp;&nbsp;&nbsp;&nbsp; PN

------

CUSIP No. 74640Y 106 13D/A Page 5 of 11

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of reporting persons. &nbsp;&nbsp;&nbsp;&nbsp; Coliseum Capital Co-Invest III, L.P.

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box
if a member of a group (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☐ (b) ☒

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC use only

4. &nbsp;&nbsp;&nbsp;&nbsp; Source of funds (see
instructions) &nbsp;&nbsp;&nbsp;&nbsp; WC

5. &nbsp;&nbsp;&nbsp;&nbsp; Check if disclosure of
legal proceedings is required pursuant to Items 2(d) or 2(e) &nbsp;&nbsp;&nbsp;&nbsp; ☐

6. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or place of
organization &nbsp;&nbsp;&nbsp;&nbsp; Delaware

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;3,133,449 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;9. | &nbsp;&nbsp;&nbsp;&nbsp;Sole dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | 10. | &nbsp;&nbsp;&nbsp;&nbsp;Shared dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;3,133,449 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 3,133,449

12. &nbsp;&nbsp;&nbsp;&nbsp; Check if the aggregate
amount in Row (11) excludes certain shares (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; ☐

13. &nbsp;&nbsp;&nbsp;&nbsp; Percent of class
represented by amount in Row (11) &nbsp;&nbsp;&nbsp;&nbsp; 3.4%

14. &nbsp;&nbsp;&nbsp;&nbsp; Type of reporting person
(see instructions) &nbsp;&nbsp;&nbsp;&nbsp; PN

------

CUSIP No. 74640Y 106 13D/A Page 6 of 11

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of reporting persons. &nbsp;&nbsp;&nbsp;&nbsp; Adam Gray

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box
if a member of a group (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☐ (b) ☒

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC use only

4. &nbsp;&nbsp;&nbsp;&nbsp; Source of funds (see
instructions) &nbsp;&nbsp;&nbsp;&nbsp; AF

5. &nbsp;&nbsp;&nbsp;&nbsp; Check if disclosure of
legal proceedings is required pursuant to Items 2(d) or 2(e) &nbsp;&nbsp;&nbsp;&nbsp; ☐

6. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or place of
organization &nbsp;&nbsp;&nbsp;&nbsp; United
States

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;40,854,130 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;9. | &nbsp;&nbsp;&nbsp;&nbsp;Sole dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | 10. | &nbsp;&nbsp;&nbsp;&nbsp;Shared dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;40,854,130 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 40,854,130

12. &nbsp;&nbsp;&nbsp;&nbsp; Check if the aggregate
amount in Row (11) excludes certain shares (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; ☐

13. &nbsp;&nbsp;&nbsp;&nbsp; Percent of class
represented by amount in Row (11) &nbsp;&nbsp;&nbsp;&nbsp; 44.7%

14. &nbsp;&nbsp;&nbsp;&nbsp; Type of reporting person
(see instructions) &nbsp;&nbsp;&nbsp;&nbsp; IN

------

CUSIP No. 74640Y 106 13D/A Page 7 of 11

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of reporting persons. &nbsp;&nbsp;&nbsp;&nbsp; Christopher Shackelton

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box
if a member of a group (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☐ (b) ☒

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC use only

4. &nbsp;&nbsp;&nbsp;&nbsp; Source of funds (see
instructions) &nbsp;&nbsp;&nbsp;&nbsp; AF

5. &nbsp;&nbsp;&nbsp;&nbsp; Check if disclosure of
legal proceedings is required pursuant to Items 2(d) or 2(e) &nbsp;&nbsp;&nbsp;&nbsp; ☐

6. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or place of
organization &nbsp;&nbsp;&nbsp;&nbsp; United
States

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared voting power<br>&nbsp;&nbsp;&nbsp;&nbsp;40,854,130 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | &nbsp;&nbsp;&nbsp;&nbsp;9. | &nbsp;&nbsp;&nbsp;&nbsp;Sole dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> shares<br> beneficially <br> owned by<br> each<br> reporting<br> person<br> with | 10. | &nbsp;&nbsp;&nbsp;&nbsp;Shared dispositive power<br>&nbsp;&nbsp;&nbsp;&nbsp;40,854,130 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 40,854,130

12. &nbsp;&nbsp;&nbsp;&nbsp; Check if the aggregate
amount in Row (11) excludes certain shares (see instructions) &nbsp;&nbsp;&nbsp;&nbsp; ☐

13. &nbsp;&nbsp;&nbsp;&nbsp; Percent of class
represented by amount in Row (11) &nbsp;&nbsp;&nbsp;&nbsp; 44.7%

14. &nbsp;&nbsp;&nbsp;&nbsp; Type of reporting person
(see instructions) &nbsp;&nbsp;&nbsp;&nbsp; IN

------

CUSIP No. 74640Y 106 13D/A Page 8 of 11

**Explanatory Note:** This Amendment No. 24 (this "<u>Amendment</u>") to the Schedule 13D (the "<u>Initial 13D</u>"), filed by the Reporting Persons with the Securities and Exchange Commission (the "<u>SEC</u>") on February 12, 2018 and as amended and supplemented by Amendment No. 1 to the Initial 13D filed on May 23, 2018, Amendment No. 2 to the Initial 13D filed on June 12, 2018, Amendment No. 3 to the Initial 13D filed on March 1, 2019, Amendment No. 4 to the Initial 13D filed on November 19, 2019, Amendment No. 5 to the Initial 13D filed on May 22, 2020, Amendment No. 6 to the Initial 13D filed on July 8, 2020, Amendment No. 7 to the Initial 13D filed on August 24, 2020, Amendment No. 8 to the Initial 13D filed on September 14, 2020, Amendment No. 9 to the Initial 13D filed on November 23, 2020, Amendment No. 10 to the Initial 13D filed on November 24, 2020, Amendment No. 11 to the Initial 13D filed on March 9, 2021, Amendment No. 12 to the Initial 13D filed on May 25, 2021, Amendment No. 13 to the Initial 13D filed on December 20, 2021, Amendment No. 14 to the Initial 13D filed on December 22, 2021, Amendment No. 15 to the Initial 13D filed on December 29, 2021, Amendment No. 16 to the Initial 13D filed on March 7, 2022, Amendment No. 17 to the Initial 13D filed on March 8, 2022, Amendment No. 18 to the Initial 13D filed on March 29, 2022, Amendment No. 19 to the Initial 13D filed on May 16, 2022, Amendment No. 20 to the Initial 13D filed on May 18, 2022, Amendment No. 21 to the Initial 13D filed on May 20, 2022, Amendment No. 22 to the Initial 13D filed on May 24, 2022, and Amendment No. 23 to the Initial 13D filed on September 19, 2022, amends and supplements certain of the items set forth therein.

As used in this Amendment, the term "<u>Reporting Persons</u>" collectively refers to:

Coliseum Capital Management, LLC, a Delaware limited liability company ("<u>CCM</u>");

Coliseum Capital, LLC, a Delaware limited liability company ("<u>CC</u>");

Coliseum Capital Partners, L.P., a Delaware limited partnership ("<u>CCP</u>");

Coliseum Capital Co-Invest III, L.P., a Delaware limited partnership ("<u>CCC III</u>");

Adam Gray ("<u>Gray</u>"), a director of Purple Innovation, Inc. (the "<u>Issuer</u>"); and

Christopher Shackelton ("<u>Shackelton</u>").

**Item 4. Purpose of Transaction.** 

Item 4 is hereby amended and supplemented as follows:

On September 17, 2022, Coliseum Capital Management, LLC, on behalf of certain of its funds and managed accounts (collectively, "<u>Coliseum</u>") submitted a letter setting forth a non-binding proposal to acquire all of the outstanding shares of Common Stock of the Issuer that are not owned by Coliseum or its affiliates for cash consideration of $4.35 per share of Common Stock (the "<u>Proposal</u>") to the chairman of the board of directors of the Issuer (the "<u>Board</u>"). In response, the Issuer formed a special committee of independent directors (the "<u>Special Committee</u>") to evaluate the Proposal. Although the Special Committee provided Coliseum with oral feedback in November 2022 that it did not see a path to a transaction based on the Proposal, the Special Committee and its advisors did not engage in substantive negotiations with Coliseum regarding the Proposal.

On January 11, 2023, given the passage of time without substantive engagement since the Proposal was submitted, and the business challenges facing the Issuer, Mr. Gray indicated to the Chairman of the Board that Coliseum wished to explore a cooperative path forward for the Issuer. On January 12, 2023, however, the Issuer issued a press release stating that the Special Committee rejected the Proposal.

On January 13, 2023, Coliseum submitted a letter to the chairman of the Board setting forth a new proposal (the "<u>Cooperation Proposal</u>"), which included (i) expanding the size of the Board to nine members, which would consist of the Issuer's current Chief Executive Officer, Robert DeMartini; Mr. Gray; two current independent directors of the Company to be agreed between the Issuer and Coliseum; two additional Coliseum-affiliated directors; two directors identified by Coliseum who would be independent under Nasdaq Stock Exchange rules and not affiliates of Coliseum; and a new director to be agreed between the Issuer and Coliseum who would be independent under Nasdaq Stock Exchange rules and not an affiliate of Coliseum, (ii) an agreement that Coliseum would formally withdraw the Proposal, (iii) an agreement that the Issuer would terminate the Stockholder Rights Agreement, dated as of September 25, 2022, and (iv) an agreement that Coliseum would not acquire greater than 50% ownership of the Issuer's Common Stock, subject to certain exceptions. The foregoing description of the Cooperation Proposal does not purport to be complete and is subject to, and qualified in its entirety by, the full text of such document, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

On January 16, 2023, the Special Committee provided a response to the Cooperation Proposal that, in Coliseum's view, did not provide a basis for agreement. While Coliseum would prefer to reach agreement with the Issuer, in the absence of such an agreement, Coliseum intends to nominate a slate of directors for election at the 2023 annual meeting of the stockholders of the Issuer, which slate would constitute a majority of the Board.

Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of securities of the Issuer at prices that would make the purchase or sale of such securities desirable, the Reporting Persons may endeavor from time to time (i) to increase or decrease its position in the Issuer through, among other things, the purchase or sale of securities of the Issuer on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable and/or (ii) to enter into transactions that increase or hedge its economic exposure to the securities of the Issuer without affecting its beneficial ownership, in each case, subject to applicable law.

------

CUSIP No. 74640Y 106 13D/A Page 9 of 11

The Reporting Persons intend to review their investment in the Issuer on a periodic basis and may from time to time engage in discussions with management and the Board and other shareholders and potential shareholders of the Issuer concerning, among other things, the business, operations and future plans of the Issuer. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the securities of the Issuer, action taken by the Board and management of the Issuer, Coliseum's investment strategies, liquidity requirements and other portfolio management considerations, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their respective investments in the Issuer as they deem appropriate including, without limitation, making proposals concerning changes to the capitalization, ownership structure, Board composition or operations of the Issuer, purchasing additional securities of the Issuer, selling some or all of its securities of the Issuer, engaging in short selling of or any hedging or similar transaction with respect to the securities of the Issuer, or changing its intention with respect to any and all matters referred to in this Item 4.

**Item 5. Interest in Securities of the Issuer.** 

Item 5 is hereby amended and supplemented as follows:

The information relating to the beneficial ownership of Class A Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated by reference herein. The percentages set forth in Row 13 for all cover pages filed herewith are calculated based upon 91,380,166 shares of Class A Stock outstanding as of November 8, 2022, based on information provided by the Issuer's Quarterly Report on Form 10-Q, as filed on November 9, 2022. When including the Issuer's Class B common stock, par value $0.0001 per share (the "<u>Class</u> <u>B Stock</u>" and, together with the Class A Stock, the "<u>Common Stock</u>"), the Reporting Persons beneficially own 44.5% of the Common Stock.

**Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.** 

Item 6 is hereby amended and supplemented to incorporate by reference the information set forth in Item 4 above.

------

CUSIP No. 74640Y 106 13D/A Page 10 of 11

**Item 7. Material to be Filed as Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description of Exhibit** |
| 99.1 | Cooperation Proposal, dated January 13, 2023, from Coliseum to the chairman of the Board of the Issuer |

---

------

CUSIP No. 74640Y 106 13D/A Page 11 of 11

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

---

| | | | |
|:---|:---|:---|:---|
| DATED: January 17, 2023 | DATED: January 17, 2023 | **COLISEUM CAPITAL CO-INVEST III, L.P.** | **COLISEUM CAPITAL CO-INVEST III, L.P.** |
| **COLISEUM CAPITAL MANAGEMENT, LLC** | **COLISEUM CAPITAL MANAGEMENT, LLC** | By: | Coliseum Capital, LLC, General Partner |
| By: | /s/ Thomas Sparta | By: | /s/ Thomas Sparta |
|  | Thomas Sparta, Attorney-in-fact |  | Thomas Sparta, Attorney-in-fact |
| **COLISEUM CAPITAL, LLC** | **COLISEUM CAPITAL, LLC** | **ADAM GRAY** | **ADAM GRAY** |
| By: | /s/ Thomas Sparta | By: | /s/ Thomas Sparta |
|  | Thomas Sparta, Attorney-in-fact |  | Thomas Sparta, Attorney-in-fact |
| **COLISEUM CAPITAL PARTNERS, L.P.** | **COLISEUM CAPITAL PARTNERS, L.P.** | **CHRISTOPHER SHACKELTON** | **CHRISTOPHER SHACKELTON** |
| By: | Coliseum Capital, LLC, General Partner | By: | /s/ Thomas Sparta |
| <br> By: | <br> /s/ Thomas Sparta |  | Thomas Sparta, Attorney-in-fact |
|  | Thomas Sparta, Attorney-in-fact |  |  |

---

## Exhibit 99.1

**Exhibit 99.1** 

COLISEUM CAPITAL MANAGEMENT, LLC

**<u>DELIVERED VIA EMAIL</u>**

January 13, 2023

Purple Innovation, Inc.

4100 North Chapel Ridge Road, Suite 200

Lehi, UT 94043

Attn: Mr. Paul Zepf, Chairman of the Board of Directors

Dear Paul:

We were disappointed by the announcement yesterday that Purple Innovation, Inc. ("Purple", "you" or the "Company") was rejecting our proposal to take Purple private, nearly four months after we made the proposal on September 17, 2022. We made our proposal because, while we support the Company's management leadership team and believe in the Company's future, we believe that the Company faces challenges and capital constraints that would be best addressed in a private company setting.

While our proposal was expressly subject to Purple special committee approval, and we must respect its decision, the challenges and constraints faced by Purple remain. The Company has an ambitious business plan that we believe will require meaningful additional investment. To achieve its goals, Purple will need to execute on that plan with greater velocity and more intensive leadership from its board than the Company has received to date.

In our view, if Purple is to succeed as a public company, a meaningful overhaul of its corporate governance is needed. To that end, we propose the following:

• <u>Governance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The board would be expanded by two seats, so that the board consists of nine members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To ensure continuity, a majority of the existing board would remain in place, consisting of Purple CEO Robert
DeMartini; two existing independent directors as agreed between us; and myself.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We would add two directors affiliated with Coliseum, bringing the total number of Coliseum-affiliated directors
to three of nine – representing less than Coliseum's proportionate ownership of the Company's outstanding common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We would add two directors that we would identify, who must be independent under Nasdaq standards, not affiliates
of Coliseum, and subject to Purple board approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purple and Coliseum would mutually identify a new independent director, who also must be independent under Nasdaq
standards, not affiliates of Coliseum, and subject to Purple board approval.

105 Rowayton Avenue, 1<sup>st</sup> Floor, Rowayton, CT 06853

------

COLISEUM CAPITAL MANAGEMENT, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Take-private Proposal</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We would formally withdraw our September 17, 2022 proposal to take Purple private.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Poison Pill; Standstill</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company would terminate the Stockholder Rights Agreement dated as of September 25, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We would agree for a period to be agreed not to exceed 50% ownership of Purple's common stock, subject to
agreed exceptions for any Purple stock repurchases or the operation of our rights of first refusal under our existing subscription agreement with the Company.

I have asked our counsel to send yours a draft agreement embodying these terms.

We believe that, in the absence of a going private transaction, Purple requires a cooperative but meaningful effort to change the Company's governance, as set forth above, which will benefit all Purple stockholders. We look forward to working with you on it.

---

| |
|:---|
| Very truly yours, |
| /s/ Adam Gray |
| Adam Gray |
| Managing Partner |
| Coliseum Capital Management, LLC |

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105 Rowayton Avenue, 1<sup>st</sup> Floor, Rowayton, CT 06853