Purple Innovation, Inc. 8-K

What Happened
Purple Innovation, Inc. announced that its board has implemented a 1-for-25 reverse stock split previously approved by stockholders. The company filed a Certificate of Amendment on July 16, 2026, which will become effective at 11:59 pm ET on July 19, 2026. Shares will trade on a split-adjusted basis on the Nasdaq Global Select Market starting at market open on July 20, 2026, under the same ticker symbol “PRPL” with a new CUSIP (74640Y304).

Key Details

• Reverse split ratio: 1-for-25 (approved by stockholders July 2, 2026; board selected ratio July 7, 2026).
• Effective timing: Certificate filed July 16, 2026; effective 11:59 pm ET on July 19, 2026; trading adjusted July 20, 2026.
• Post-split shares outstanding (approx.): 4,353,026 Class A shares and 6,522 Class B shares.
• Fractional shares: No fractional shares will be issued; share counts will be rounded up to the next whole share.
• Other securities: All warrants, stock options and similar securities will be proportionally adjusted per their terms.
• Administrative: Pacific Stock Transfer Company is the exchange agent; broker-held shares will be automatically adjusted.

Why It Matters
A reverse stock split reduces the number of outstanding shares and increases the per-share price proportionally but does not change stockholders’ percentage ownership (aside from rounding effects). For investors, the split may affect share liquidity, per-share price metrics, and the number of shares they hold on record; no action is required for holders whose shares are held by brokers or nominees. The split does not change the rights or preferences of the common stock.