Purple Innovation (PRPL) Prices 7.308M Shares Secondary Offering at $30/Sh

Purple Innovation, Inc. (NASDAQ: PRPL), a leader in comfort innovation and the creator of the renowned Purple® Mattress, today announced the pricing of an underwritten secondary public offering of 7,308,792 shares of its Class A common stock to be sold by Coliseum Capital Partners, L.P., Coliseum Co-Invest Debt Fund, L.P., Blackwell Partners LLC – Series A, and Coliseum Capital Co-Invest III, L.P. (collectively, the "Selling Stockholders"). The shares of Class A common stock are being sold at a price of $30.00 per share. The underwriters have a 30-day option period to purchase up to 1,096,318 additional shares of Class A common stock from the Selling Stockholders at the same price per share. The offering is expected to close on May 21, 2021, subject to customary closing conditions.

The Selling Stockholders 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 Stockholders. The Company has agreed to pay certain expenses associated with the registration and sale of shares by the Selling Stockholders, including underwriting discounts and commissions with respect to 7,308,792 shares of Class A common stock being sold in this offering. The Selling Stockholders will pay underwriting discounts and commissions with respect to any of the 1,096,318 additional shares of Class A common stock that may be sold pursuant to the option granted to the underwriters.

BofA Securities is acting as lead book–running manager and representative of the underwriters for the offering. KeyBanc Capital Markets and BMO Capital Markets are acting as book-running managers.

The securities described above are being offered pursuant to an automatic shelf registration statement (which includes a base prospectus) on Form S-3 (File No. 333-256253) that was previously filed by the Company with the Securities and Exchange Commission (the "SEC") and automatically became effective upon filing on May 18, 2021.

The offering is being made only by means of a prospectus and related prospectus supplement.

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