Purple Special Committee Takes Action to Protect Rights of All Shareholders in Face of Coliseum Capital Management's Effort to Gain Control of the Company

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Feb 14, 2023

Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" or the “Company”), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that the Special Committee of its Board of Directors (the “Board”) has declared a dividend of one new Proportional Representation Preferred Linked Stock (“PRPLS”) for each 100 shares of Purple common stock (“Common Stock”) owned by Purple’s shareholders. Each PRPLS will vote together with the Common Stock in the election of directors, and related matters, and carry 10,000 votes each.