Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 29)*
PURPLE INNOVATION, INC.
(Name of Issuer)
Class A Common Stock, par value $0.0001 per share
(Title of Class of Securities)
74640Y 106
(CUSIP Number)
Christopher Shackelton/Adam Gray
105 Rowayton Avenue
Rowayton, CT 06853
with a copy to:
Debevoise & Plimpton LLP
Attention: William D. Regner, Esq.
66 Hudson Boulevard
New York, NY 10001
(212) 909-6000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
April 19, 2023
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §240.13d-1(e), §240.13d-1(f) or §240.13d-1(g), check the following box. ☐
The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see Notes).
CUSIP No. 74640Y 106 | 13D/A | Page 2 of 10 |
1. |
Names of reporting persons.
Coliseum Capital Management, LLC | |||||
2. | Check the appropriate box if a member of a group (see instructions) (a) ☐ (b) ☒
| |||||
3. | SEC use only
| |||||
4. | Source of funds (see instructions)
AF | |||||
5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or place of organization
Delaware |
Number of shares beneficially owned by each reporting person with
|
7. | Sole voting power
0 | ||||
8. | Shared voting power
46,814,450 | |||||
9. | Sole dispositive power
0 | |||||
10. | Shared dispositive power
46,814,450 |
11. |
Aggregate amount beneficially owned by each reporting person
46,814,450 | |||||
12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions)
☐ | |||||
13. | Percent of class represented by amount in Row (11)
44.6% | |||||
14. | Type of reporting person (see instructions)
IA |
CUSIP No. 74640Y 106 | 13D/A | Page 3 of 10 |
1. |
Names of reporting persons.
Coliseum Capital, LLC | |||||
2. | Check the appropriate box if a member of a group (see instructions) (a) ☐ (b) ☒
| |||||
3. | SEC use only
| |||||
4. | Source of funds (see instructions)
AF | |||||
5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or place of organization
Delaware |
Number of shares beneficially owned by each reporting person with
|
7. | Sole voting power
0 | ||||
8. | Shared voting power
38,285,173 | |||||
9. | Sole dispositive power
0 | |||||
10. | Shared dispositive power
38,285,173 |
11. |
Aggregate amount beneficially owned by each reporting person
38,285,173 | |||||
12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions)
& #x2612; | |||||
13. | Percent of class represented by amount in Row (11)
36.5% | |||||
14. | Type of reporting person (see instructions)
OO |
CUSIP No. 74640Y 106 | 13D/A | Page 4 of 10 |
1. |
Names of reporting persons.
Coliseum Capital Partners, L.P. | |||||
2. | Check the appropriate box if a member of a group (see instructions) (a) ☐ (b) ☒
| |||||
3. | SEC use only
| |||||
4. | Source of funds (see instructions)
WC | |||||
5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or place of organization
Delaware |
Number of shares beneficially owned by each reporting person with
|
7. | Sole voting power
0 | ||||
8. | Shared voting power
35,151,724 | |||||
9. | Sole dispositive power
0 | |||||
10. | Shared dispositive power
35,151,724 |
11. |
Aggregate amount beneficially owned by each reporting person
35,151,724 | |||||
12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions)
☒ | |||||
13. | Percent of class represented by amount in Row (11)
33.5% | |||||
14. | Type of reporting person (see instructions)
PN |
CUSIP No. 74640Y 106 | 13D/A | Page 5 of 10 |
1. |
Names of reporting persons.
Coliseum Capital Co-Invest III, L.P. | |||||
2. | Check the appropriate box if a member of a group (see instructions) (a) ☐ (b) ☒
| |||||
3. | SEC use only
| |||||
4. | Source of funds (see instructions)
WC | |||||
5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or place of organization
Delaware |
Number of shares beneficially owned by each reporting person with
|
7. | Sole voting power
0 | ||||
8. | Shared voting power
3,133,449 | |||||
9. | Sole dispositive power
0 | |||||
10. | Shared dispositive power
3,133,449 |
11. |
Aggregate amount beneficially owned by each reporting person
3,133,449 | |||||
12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions)
☒ | |||||
13. | Percent of class represented by amount in Row (11)
3.0% | |||||
14. | Type of reporting person (see instructions)
PN |
CUSIP No. 74640Y 106 | 13D/A | Page 6 of 10 |
1. |
Names of reporting persons.
Adam Gray | |||||
2. | Check the appropriate box if a member of a group (see instructions) (a) ☐ (b) ☒
| |||||
3. | SEC use only
| |||||
4. | Source of funds (see instructions)
AF | |||||
5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or place of organization
United States |
Number of shares beneficially owned by each reporting person with
|
7. | Sole voting power
0 | ||||
8. | Shared voting power
46,814,450 | |||||
9. | Sole dispositive power
0 | |||||
10. | Shared dispositive power
46,814,450 |
11. |
Aggregate amount beneficially owned by each reporting person
46,814,450 | |||||
12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions)
☐ | |||||
13. | Percent of class represented by amount in Row (11)
44.6% | |||||
14. | Type of reporting person (see instructions)
IN |
CUSIP No. 74640Y 106 | 13D/A | Page 7 of 10 |
1. |
Names of reporting persons.
Christopher Shackelton | |||||
2. | Check the appropriate box if a member of a group (see instructions) (a) ☐ (b) ☒
| |||||
3. | SEC use only
| |||||
4. | Source of funds (see instructions)
AF | |||||
5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or place of organization
United States |
Number of shares beneficially owned by each reporting person with
|
7. | Sole voting power
0 | ||||
8. | Shared voting power
46,814,450 | |||||
9. | Sole dispositive power
0 | |||||
10. | Shared dispositive power
46,814,450 |
11. |
Aggregate amount beneficially owned by each reporting person
46,814,450 | |||||
12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions)
☐ | |||||
13. | Percent of class represented by amount in Row (11)
44.6% | |||||
14. | Type of reporting person (see instructions)
IN |
CUSIP No. 74640Y 106 | 13D/A | Page 8 of 10 |
Explanatory Note: This Amendment No. 29 (this Amendment) to the Schedule 13D (the Initial 13D), filed by the Reporting Persons with the Securities and Exchange Commission (the SEC) on February 12, 2018 and as amended and supplemented by Amendment No. 1 to the Initial 13D filed on May 23, 2018, Amendment No. 2 to the Initial 13D filed on June 12, 2018, Amendment No. 3 to the Initial 13D filed on March 1, 2019, Amendment No. 4 to the Initial 13D filed on November 19, 2019, Amendment No. 5 to the Initial 13D filed on May 22, 2020, Amendment No. 6 to the Initial 13D filed on July 8, 2020, Amendment No. 7 to the Initial 13D filed on August 24, 2020, Amendment No. 8 to the Initial 13D filed on September 14, 2020, Amendment No. 9 to the Initial 13D filed on November 23, 2020, Amendment No. 10 to the Initial 13D filed on November 24, 2020, Amendment No. 11 to the Initial 13D filed on March 9, 2021, Amendment No. 12 to the Initial 13D filed on May 25, 2021, Amendment No. 13 to the Initial 13D filed on December 20, 2021, Amendment No. 14 to the Initial 13D filed on December 22, 2021, Amendment No. 15 to the Initial 13D filed on December 29, 2021, Amendment No. 16 to the Initial 13D filed on March 7, 2022, Amendment No. 17 to the Initial 13D filed on March 8, 2022, Amendment No. 18 to the Initial 13D filed on March 29, 2022, Amendment No. 19 to the Initial 13D filed on May 16, 2022, Amendment No. 20 to the Initial 13D filed on May 18, 2022, Amendment No. 21 to the Initial 13D filed on May 20, 2022, Amendment No. 22 to the Initial 13D filed on May 24, 2022, Amendment No. 23 to the Initial 13D filed on September 19, 2022, Amendment No. 24 to the Initial 13D filed on January 17, 2023, Amendment No. 25 to the Initial 13D filed on February 13, 2023, Amendment No. 26 to the Initial 13D filed on February 14, 2023, Amendment No. 27 to the Initial 13D filed on February 21, 2023, and Amendment 28 to the Initial 13D filed on April 13, 2023, amends and supplements certain of the items set forth therein.
As used in this Amendment, the term Reporting Persons collectively refers to:
Coliseum Capital Management, LLC, a Delaware limited liability company (CCM);
Coliseum Capital, LLC, a Delaware limited liability company (CC);
Coliseum Capital Partners, L.P., a Delaware limited partnership (CCP);
Coliseum Capital Co-Invest III, L.P., a Delaware limited partnership (CCC III);
Adam Gray (Gray), a director of Purple Innovation, Inc. (the Issuer); and
Christopher Shackelton (Shackelton).
The items identified below, or the particular paragraphs of such items which are identified below, are amended as set forth below. Unless otherwise indicated, all capitalized terms used and not defined herein have the respective meanings assigned to them in the Initial 13D.
Item 4. Purpose of Transaction.
Item 4 is hereby amended and supplemented as follows:
On April 19, 2023, CCM (together with its managed funds and accounts, Coliseum) entered into a cooperation agreement (Cooperation Agreement) with the Issuer pursuant to and in accordance with the material terms of the Memorandum of Understanding between Coliseum and the Issuer entered into on April 11, 2023 and described in Amendment 28 to the Initial 13D filed on April 13, 2023.
The description of the Cooperation Agreement in Amendment 28 to the Initial 13D filed on April 13, 2023 does not purport to be complete and is subject to, and qualified in its entirety by, the full text of such document, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
Item 6 is hereby amended and supplemented as follows:
On April 19, 2023, Coliseum and the Issuer entered into the Cooperation Agreement defined and described in Item 4 above and included as Exhibit 99.1 hereto.
CUSIP No. 74640Y 106 | 13D/A | Page 9 of 10 |
Item 7. Material to be Filed as Exhibits.
Exhibit Number |
Description of Exhibit | |
99.1 | Cooperation Agreement, dated April 19, 2023. |
CUSIP No. 74640Y 106 | 13D/A | Page 10 of 10 |
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
DATED: April 21, 2023 | ||
COLISEUM CAPITAL MANAGEMENT, LLC | ||
By: | /s/ Thomas Sparta | |
Thomas Sparta, Attorney-in-fact | ||
COLISEUM CAPITAL, LLC | ||
By: | /s/ Thomas Sparta | |
Thomas Sparta, Attorney-in-fact | ||
COLISEUM CAPITAL PARTNERS, L.P. | ||
By: Coliseum Capital, LLC, General Partner | ||
By: | /s/ Thomas Sparta | |
Thomas Sparta, Attorney-in-fact |
COLISEUM CAPITAL CO-INVEST III, L.P. | ||
By: Coliseum Capital, LLC, General Partner | ||
By: | /s/ Thomas Sparta | |
Thomas Sparta, Attorney-in-fact | ||
ADAM GRAY | ||
By: | /s/ Thomas Sparta | |
Thomas Sparta, Attorney-in-fact | ||
CHRISTOPHER SHACKELTON | ||
By: | /s/ Thomas Sparta | |
Thomas Sparta, Attorney-in-fact |