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Purple Innovation, Inc. Announces Closing of Secondary Public Offering of Class A Common Stock and Full Exercise of the Underwriter's Over-Allotment Option
LEHI, Utah, Sept. 14, 2020 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), the leader in comfort innovation and the creator of the renowned
About this update from Purple Innovation, Inc.
[{"type":"text","content":"LEHI, Utah, Sept. 14, 2020 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) (\"Purple\"), the leader in comfort innovation and the creator of the renowned Purple® Mattress, today announced the closing of the previously announced underwritten secondary public offering of 13,600,000 shares of its Class A common stock sold by InnoHold, LLC (the \"Selling Stockholder\"), which includes the full exercise of the underwriter's option to purchase up to 1,773,913 additional shares, at a price of $18.50 per share, for total gross proceeds to the Selling Stockholder of approximately $251.6 million, before deducting underwriting discounts and commissions. Purple did not sell any shares of Class A common stock in the offering and did not receive any proceeds from the offering.\n\n \n \n \n \n \n \n\n \nBofA Securities acted as the sole book-running manager for the offering.\nCopies of the prospectus may be obtained on the SEC's website, www.sec.gov, or from BofA Securities, NC1-004-03-43, Attn: Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255, Phone (800) 294-1322.\nThis 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.\nAbout Purple \nPurple 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, seat and back cushions, frames, sheets and more. Our products are the result of over 25 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. For more information on Purple, visit purple.com.\nForward ...