Purple Innovation, Inc.: receives Nasdaq notice for MVPHS below $15,000,000

What happened The company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that for the last 30 consecutive business days, the Company’s Market Value of Publicly Held Shares (MVPHS) was below the minimum of $15,000,000 required for continued listing on the Nasdaq Global Select Market pursuant to Nasdaq Listing Rules 5450(b)(2)(C) and 5450(b)(3)(C). The notification has no immediate effect on the listing or trading of the Company’s Class A common stock. In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company was given 180 calendar days from the date of the notification, or until Mar 29, 2026, to regain compliance.

Key details

• MVPHS was below $15,000,000 for 30 consecutive business days, per the Nasdaq letter.
• Compliance Period: 180 calendar days, ending on Mar 29, 2026.
• To regain compliance the Company’s MVPHS must close at $15,000,000 or more for a minimum of ten consecutive business days during the Compliance Period.
• If the Company does not regain compliance by the Compliance Date, Nasdaq will notify the Company that its securities are subject to delisting; the Company may appeal to a hearings panel or consider applying to transfer to the Nasdaq Capital Market if it meets those requirements.

Why it may matter The filing reports Item 3.01 (Notice of delisting or failure to satisfy a continued listing rule or standard), which covers receipt of a Nasdaq notice regarding the MVPHS listing requirement and the related Compliance Period and options described by Nasdaq. The filing does not show why the insider traded or why the company acted.