Purple Innovation, Inc. 8-K

What Happened

• Purple Innovation, Inc. announced a Third Amendment to its Amended and Restated Credit Agreement on March 24, 2026. The amendment extends the loan maturity from December 31, 2026 to April 30, 2027 and waives the requirement (and related defaults) that the Company’s fiscal 2025 financial statements be delivered without a “going concern” qualification. The company also furnished a press release reporting its fourth quarter and full-year 2025 results (Exhibit 99.1).

Key Details

• Amendment date: March 24, 2026; new maturity date: April 30, 2027 (was Dec 31, 2026).
• Amendment Fee: ~ $1.6 million total (1.25% pro rata); ~ $1.3 million added to Coliseum Lenders’ principal (payable-in-kind) and ~ $346,000 paid in cash.
• Reimbursed expenses: ~ $253,000 paid in cash to Coliseum Lenders.
• Documents: Third Amendment is filed as Exhibit 10.1; Q4/FY2025 press release filed as Exhibit 99.1.

Why It Matters

• The amendment gives Purple more near-term runway by pushing the loan maturity into April 2027 and removes a potential default trigger tied to a “going concern” qualification in the FY2025 financials.
• Costs of the amendment increase the Company’s indebtedness (about $1.3M PIK) and require cash payments (~$346K amendment fee + ~$253K expense reimbursement), which affect liquidity.
• Investors should review the furnished press release for the company’s reported Q4 and full-year 2025 financial results and read the full Third Amendment (Exhibit 10.1) to understand remaining covenants, representations and any limitations or qualifications.