# EDGAR Filing Document

**Accession Number:** 0001643953
**File Stem:** 0001193125-23-043686
**Filing Date:** 2023-2
**Character Count:** 29357
**Document Hash:** e8151ae14d52c930900a082de34a8510
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-043686.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001193125-23-043686

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

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**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:** 23649581

**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. 27)\*** 

------

## 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.** 

**66 Hudson Boulevard** 

**New York, NY 10001** 

**(212) 909-6000** 

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

**February 21, 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 10

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;46,814,450 |
| &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;46,814,450 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 46,814,450

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 10

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;38,285,173 |
| &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;38,285,173 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 38,285,173

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; 36.5%

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 10

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;35,151,724 |
| &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;35,151,724 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 35,151,724

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; 33.5%

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 10

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; 3.0%

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 10

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;46,814,450 |
| &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;46,814,450 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 46,814,450

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 10

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;46,814,450 |
| &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;46,814,450 |

---

11. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate amount beneficially owned by each reporting person &nbsp;&nbsp;&nbsp;&nbsp; 46,814,450

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 10

**Explanatory Note:** This Amendment No. 27 (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, Amendment No. 23 to the Initial 13D filed on September 19, 2022, Amendment No. 24 to the Initial 13D filed on January 17, 2023, Amendment No. 25 to the Initial 13D filed on February 13, 2023, and Amendment No. 26 to the Initial 13D filed on February 14, 2023, 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>").

The items identified below, or the particular paragraphs of such items which are identified below, are amended as set forth below. Unless otherwise indicated, all capitalized terms used and not defined herein have the respective meanings assigned to them in the Initial 13D.

**Item 4. Purpose of Transaction.** 

Item 4 is hereby amended and supplemented as follows:

On February 21, 2023, CCM issued a press release (the "<u>Press Release</u>") announcing that it, together with its managed funds and accounts ("<u>Coliseum</u>"), filed a lawsuit in the Delaware Court of Chancery to, among other things, invalidate the Issuer's recently issued "Proportional Representation Preferred Linked Stock," which Coliseum believes deprives the Issuer's stockholders of a fair and democratic election of directors at the 2023 annual meeting of the stockholders of the Issuer. The foregoing description of the Press Release 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.

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

Paragraphs (a)-(b) is hereby amended and supplemented as follows:

(a)-(b) 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 104,777,695 shares of Class A Stock outstanding following the completion of the Public Offering, as disclosed in the Issuer's Prospectus Supplement filed on February 10, 2023 pursuant to Rule 424(b)(5). 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.

------

CUSIP No. 74640Y 106 13D/A Page 9 of 10

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

---

| | |
|:---|:---|
| **Exhibit Number** | **Description of Exhibit** |
| 99.1 | Press Release |

---

------

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

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: February 21, 2023 | DATED: February 21, 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: 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: Coliseum Capital, LLC, General Partner | By: | /s/ Thomas Sparta |
|  |  |  | Thomas Sparta, Attorney-in-fact |
| By: | /s/ Thomas Sparta |  |  |
|  | Thomas Sparta, Attorney-in-fact |  |  |

---

## Exhibit 99.1

**Exhibit 99.1** 

**Coliseum Capital Files Lawsuit Against Purple Innovation Non-Executive Directors to Ensure** 

**Fair and Democratic Board Election** 

*Asserts Purple's Recently Issued Preferred Stock Violates Company's Charter and* 

*Directors' Fiduciary Duties; Must be Declared Invalid and Unenforceable* 

*Believes Actions Taken by Purple Special Committee are Desperate Attempt to* 

*Disenfranchise Stockholders and Entrench Purple Board* 

*Demonstrates Immediate Need for Board Change* 

*Coliseum Capital's Nominees Have Significant Experience Navigating Complex Situations* 

*to Positively Transform Companies and Drive Long-Term Value Creation* 

**ROWAYTON, Conn., – February 21, 2023** – Coliseum Capital Management, LLC (together with its managed funds and accounts, "Coliseum"), the largest stockholder of Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" or the "Company") owning approximately 44% of the common stock, today filed a lawsuit in the Delaware Court of Chancery to invalidate Purple's recently issued "Proportional Representation Preferred Linked Stock," which Coliseum believes deprives Purple stockholders of a fair and democratic election of directors at the Company's 2023 Annual Meeting.

The preferred stock – issued without the approval of Purple's stockholders and in direct response to Coliseum's nomination of directors to the Purple Board of Directors – violates the Company's charter, fundamentally transforms the "one share, one vote" structure used to elect Company directors into a cumulative voting regime that prevents holders of a majority of the common stock from electing or removing the full board, and is a bad faith attempt by the Special Committee of Purple's Board to entrench itself and thwart shareholder democracy. Specifically, the preferred stock issuance violates those provisions of the Company's charter that limit the form of stock distributions to holders of the Company's Class A shares to additional shares of Class A common stock.

Adam Gray, Managing Partner of Coliseum, said, "The Purple Special Committee's brazen action – taken no more than 24 hours after Coliseum proposed five highly qualified candidates for election – demonstrates the lengths to which the incumbent non-executive directors will go to preserve their Board seats at the expense of stockholders. To seek such Board security amidst a contested election – and leveraging corporate machinations and stockholder resources to do so – is further evidence that Board change is warranted. While Coliseum has sought to work constructively with the Purple Board – consistent with the collaborative investment approach we have executed successfully for the past 15-plus years – we have been left with no choice but to take the extraordinary step of a proxy contest and filing litigation seeking to ensure the election of directors is conducted in a fair and democratic manner for the benefit of all Purple stockholders."

In its lawsuit, Coliseum asks the court to declare, among other items, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The named non-executive director defendants breached their fiduciary
duties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purple and the non-executive director defendants violated the
Company's charter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The preferred stock issuance is invalid, unenforceable, and void; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Coliseum's nomination notice is valid.

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Mr. Gray continued, "As a longstanding stockholder of Purple and a continued provider of much-needed capital to the Company throughout its time as a public company, Coliseum believes in Purple's tremendous potential and the ability of Purple's management team to steer the Company toward success. That said, we also strongly believe that Purple stockholders deserve a highly credentialed, nimbler, more engaged and aligned Board that will not only support management, but also protect and restore stockholder value.

"Coliseum's nominees have the ownership mentality as well as right mix of operational, financial, and restructuring skill sets urgently needed to help management execute on its strategic priorities. If elected, they will bring the collaborative attitude and fresh perspectives required to reverse years of persistent underperformance and maximize value for all Purple stockholders."

Additional information regarding Coliseum's five highly qualified nominees, including its February 13<sup>th</sup> letter to stockholders, can be found <u>here</u>.

**About Coliseum Capital Management, LLC** 

Founded in 2005, Coliseum Capital Management, LLC is a private investment firm that partners with institutional investors, family offices and endowments to invest with a long-term orientation in companies with strong upside potential, enhancing value by working collaboratively with boards and management teams.

**CERTAIN INFORMATION CONCERNING THE PARTICIPANTS** 

Coliseum Capital Partners, L.P. ("CCP"), together with the other participants named herein (collectively, "Coliseum"), intends to file a proxy statement and accompanying universal proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of its slate of nominees for election to the Board of Directors (the "Board") of Purple Innovation, Inc. (the "Company") at the 2023 Annual Meeting of Stockholders of the Company to be held as may be determined by the Board (including any other meeting of stockholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof, the "Annual Meeting").

COLISEUM STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS, INCLUDING THE PROXY CARD, AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE AT <u>HTTP://WWW.SEC.GOV</u>. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR, INNISFREE M&A INCORPORATED, AT ITS TOLL-FREE NUMBER 1 888 750 5834 OR VIA EMAIL AT <u>INFO@INNISFREEMA.COM</u>.

The participants in the proxy solicitation are anticipated to be Coliseum Capital Partners, L.P., Coliseum Capital, LLC ("Coliseum Capital"), Coliseum Capital Management, LLC ("CCM"), Seth "Hoby" Darling, Robert DeVincenzi, Adam Gray, R. Carter Pate, Erika Serow, Christopher Shackelton, Christopher Murphy and Chivonne Cassar.

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Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the election of Coliseum's nominees as directors of the Company, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other proxy materials when they are filed with the SEC.

**Contacts:** 

**Media** 

Amanda Shpiner/Mark Semer

Gasthalter & Co.

212.257.4170 <u>Coliseum@gasthalter.com</u> 

**Investors** 

Arthur B. Crozier/Gabrielle Wolf

Innisfree M&A Incorporated

212.750.5833