<SEC-DOCUMENT>0001213900-23-029564.txt : 20230413
<SEC-HEADER>0001213900-23-029564.hdr.sgml : 20230413
<ACCEPTANCE-DATETIME>20230413165246
ACCESSION NUMBER:		0001213900-23-029564
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20230413
DATE AS OF CHANGE:		20230413

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Purple Innovation, Inc.
		CENTRAL INDEX KEY:			0001643953
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD FURNITURE [2510]
		IRS NUMBER:				474078206
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37523
		FILM NUMBER:		23818958

	BUSINESS ADDRESS:	
		STREET 1:		4100 N. CHAPEL RIDGE RD
		STREET 2:		SUITE 200
		CITY:			LEHI
		STATE:			UT
		ZIP:			84043
		BUSINESS PHONE:		801-756-2600

	MAIL ADDRESS:	
		STREET 1:		4100 N. CHAPEL RIDGE RD
		STREET 2:		SUITE 200
		CITY:			LEHI
		STATE:			UT
		ZIP:			84043

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Global Partner Acquisition Corp.
		DATE OF NAME CHANGE:	20150602
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>ea176891-8k_purple.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>

</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&#160;13 or 15(d) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event reported):
April 11, 2023&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Purple Innovation, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact Name of Registrant as Specified in its
Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&#160;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>001-37523</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>47-4078206</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(State of Incorporation)</B></FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(IRS Employer<BR>
Identification No.)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&#160;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 49%"><FONT STYLE="font-size: 10pt"><B>4100 North Chapel Ridge Rd., Suite 200</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 49%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B>Lehi, Utah</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B>84043</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Address of Principal Executive Offices)</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Zip Code)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant&#8217;s telephone number, including
area code: (801) 756-2600</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former name or former address, if changed since
last report) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the Form 8-K
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; vertical-align: bottom; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; vertical-align: bottom; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Trading Symbol(s)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: center; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Name of each exchange on which registered</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Class A Common Stock, par value $0.0001 per share</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">PRPL</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">The NASDAQ Stock Market LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Proportional Representation Preferred Linked Stock, par value $0.0001 per share</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">The NASDAQ Stock Market LLC</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167; 230.405 of this chapter) or Rule 12b&#8211;2
of the Securities Exchange Act of 1934 (&#167; 240.12b&#8211;2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; border-bottom: Black 2pt solid; font-size: 1pt">&#160;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="border-bottom: Black 1.5pt solid; margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#160;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#160;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 8.01 OTHER EVENTS</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 11, 2023, Purple Innovation, Inc.,
a Delaware corporation (the &#8220;Company&#8221;), and Coliseum Capital Management, LLC, a Delaware limited liability company
(&#8220;Coliseum&#8221;), entered into a binding memorandum of understanding (the &#8220;MOU&#8221;) in connection with the
previously disclosed action entitled Coliseum Capital Management, LLC v. DiCamillo et al., C.A. No. 2023-0220-PAF (the
&#8220;Action&#8221;) and contested solicitation of proxies with respect to the election of directors at the Company&#8217;s 2023
annual meeting of stockholders (the &#8220;Contested Solicitation&#8221;). The parties have agreed to work in good faith toward
execution of a definitive cooperation agreement in connection with the foregoing to resolve the Action and Contested Solicitation. A
copy of the MOU is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 13, 2023, the Company issued a press
release addressing the MOU. A copy of the Company&#8217;s press release is attached as Exhibit 99.2 to this Current Report on Form 8-K
and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Exhibits:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-bottom: black 1.5pt solid; width: 9%"><B>Exhibit<BR>
Number</B></TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 90%"><B>Description</B></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">99.1</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom"><A HREF="ea176891ex99-1_purple.htm">Memorandum of Understanding dated April 11, 2013</A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">99.2</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom"><A HREF="ea176891ex99-2_purple.htm" STYLE="-sec-extract: exhibit">Press Release issued by the Company on April 13, 2023</A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">104</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Cover Page Interactive Data File (embedded within the Inline XBRL document)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection -->
    <DIV STYLE="border-bottom: Black 1.5pt solid; margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#160;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top">Dated: April 13, 2023</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PURPLE INNOVATION, INC.</B></P></TD></TR>
  <TR>
    <TD STYLE="width: 60%">&#160;</TD>
    <TD STYLE="width: 4%">&#160;</TD>
    <TD STYLE="width: 36%">&#160;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#160;</TD>
    <TD STYLE="vertical-align: bottom">By:</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom">/s/ Casey K. McGarvey</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">Casey K. McGarvey</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">Chief Legal Officer, Secretary </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea176891ex99-1_purple.htm
<DESCRIPTION>MEMORANDUM OF UNDERSTANDING DATED APRIL 11, 2013
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXECUTION VERSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>MEMORANDUM OF UNDERSTANDING</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This Memorandum of Understanding
(&ldquo;MOU&rdquo;) is entered into this 11th day of April 2023, by and among the undersigned parties and sets forth the material terms
and conditions under which the parties have agreed to settle the action entitled <I>Coliseum Capital Management, LLC v. Paul Zepf et al.</I>,
C.A. No. 2023-0220-PAF (the &ldquo;Action&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The parties agree to settle the Action (the &ldquo;Settlement&rdquo;) on the terms set forth in the attached
Annex A (the &ldquo;Term Sheet&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Upon execution and delivery of this MOU, the parties shall work together in good faith, using reasonable
best efforts to prepare and enter into, as promptly as practicable after the date hereof (and in no event later than Wednesday, April
19, 2023), a cooperation agreement (the &ldquo;Cooperation Agreement&rdquo;) embodying the material terms set forth in the Term Sheet
and containing other customary settlement terms.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Upon execution of this MOU, the parties shall take the necessary steps to stay any further litigation
of the Action and jointly request that the trial be adjourned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">By entering into this MOU, the parties make no admission of liability or of any form of wrongdoing whatsoever,
and the Cooperation Agreement will expressly provide that the parties make no admission of liability or any form of wrongdoing whatsoever.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">This MOU and the Term Sheet and any dispute arising out of or relating in any way to this MOU or the Term
Sheet shall be governed by and construed in accordance with the laws of the state of Delaware, without regard to conflict of laws principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">This MOU may be modified or amended only by a writing, signed by counsel for the Settling Parties, that
refers specifically to this MOU.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">If any provision of this MOU is held to be illegal, invalid or otherwise unenforceable under any present
or future laws, such provision(s) shall be fully severable and shall in no way affect the validity or enforceability of this MOU or any
other provision of this MOU.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">This MOU is intended by the Parties hereto to be a binding agreement to use their reasonable best efforts
to prepare and enter into the Cooperation Agreement embodying the material terms set forth in the Term Sheet and containing other customary
settlement terms.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">This MOU may be executed in counterparts, including by electronic means, and as so executed shall constitute
one agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Potter
    Anderson &amp; Corroon LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OF COUNSEL:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Michael A. Pittenger</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael A. Pittenger (#3212)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maeve L. O&rsquo;Connor</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Berton W. Ashman, Jr. (#4681)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Laurah J. Samuels</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Matthew F. Davis (#4696)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Molly Baltimore Maas</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Callan R. Jackson (#6292)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DEBEVOISE &amp; PLIMPTON LLP</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Justin T. Hymes (#6671)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">66 Hudson Boulevard</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1313 North Market Street</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10001</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hercules Plaza, 6th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(212) 909-6000</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wilmington, Delaware 19801</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(302) 984-6000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Attorneys for Plaintiffs </I></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Morris,
    Nichols, Arsht  &amp; Tunnell
    LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OF COUNSEL:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ William M. Lafferty</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William M. Lafferty (#2755)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew W. Stern</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Susan W. Waesco (#4476)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicholas P. Crowell</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin M. Coen (#4775)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIDLEY AUSTIN LLP</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sara Barry (#6703)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">787 Seventh Avenue</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sebastian Van Oudenallen
    (#6952)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, NY 10019</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1201 N. Market Street</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(212) 839-5300</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wilmington, DE 19801</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(302) 658-9200</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jaime A. Bartlett</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Attorneys for Defendants</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIDLEY AUSTIN LLP</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">555 California Street,
    Suite 2000</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">San Francisco, CA 94104</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(415) 772-1200</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION VERSION - April 11, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Purple Innovation, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U STYLE="text-decoration: none">Cooperation Agreement
Term Sheet</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Parties</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purple Innovation, Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coliseum Capital Management, LLC, a Delaware limited liability company (together with its affiliates, &ldquo;<U>Coliseum</U>&rdquo;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Board Composition</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the execution and delivery of a definitive agreement containing the terms set forth herein (the &ldquo;<U>Cooperation Agreement</U>&rdquo;), the Board of Directors of the Company (the &ldquo;<U>Board</U>&rdquo;) would (a) increase the size of the board to eight members, (b) accept the resignation of Paul Zepf and Pano Anthos, and (c) appoint to the Board Hoby Darling, Carter Pate and Erika Serow (collectively, the &ldquo;<U>New Directors</U>&rdquo;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&rsquo;s slate of directors for the 2023 Annual Meeting of Stockholders (the &ldquo;<U>2023 AGM</U>&rdquo;) would consist of the following eight nominees:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid; width: 14%">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; width: 3%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; width: 7%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; width: 76%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam Gray;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hoby Darling;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carter Pate;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Erika Serow;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scott Peterson;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gary DiCamillo;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Claudia Hollingsworth; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert DeMartini.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The current Board would not make any determination as to the independence of any director for SEC and Nasdaq purposes prior to the reconstitution of the Board as provided by the Cooperation Agreement.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company would recommend the election of the foregoing slate to the stockholders of the Company, solicit proxies in favor of the election of such slate and otherwise use its reasonable best efforts to cause such slate to be elected at the 2023 AGM.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 2pt 2pt 4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2023 AGM would be held no later than June 16, 2023.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Board
    Leadership</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam Gray would serve as Chair of the Board.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gary DiCamillo would continue as Lead Independent Director and would serve as Chair of the Nomination &amp; Governance Committee.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 2pt 2pt 4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&rsquo;s Bylaws and Corporate Governance Guidelines would be amended to provide for the responsibilities of the Lead Independent Director, in a form attached hereto, which will also be attached as an exhibit to the Cooperation Agreement.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Special Committee</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective upon execution and delivery of the Cooperation Agreement, the Board would terminate the Special Committee.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Voting
    Commitment</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Until the Termination Date, Coliseum would vote all equity securities of the Company over which Coliseum has direct or indirect voting control for the election of the Company&rsquo;s slate of directors and against the removal of any director of the Company, other than for cause.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Standstill</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coliseum would commit to the standstill restrictions attached hereto. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Change-in-
    Control Provisions</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 2pt; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Cooperation Agreement would approve the New Directors for purposes of the change-in-control provisions in that certain (i) Credit Agreement among the Company, Purple Innovation, LLC, the Lenders, and Keybank National Association, dated September 3, 2020 (as amended); and (ii) Amended and Restated Employment Agreement between the Company and Robert DeMartini, dated March 19, 2022.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Poison
    Pill Termination</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; width: 3%; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; width: 83%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon execution and delivery of the Cooperation Agreement, the Company would terminate the stockholder rights agreement adopted on September 25, 2022 and would agree not to adopt a new stockholder rights agreement without Coliseum&rsquo;s prior consent.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Preferred
    Stock Redemption</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon execution and delivery of the Cooperation Agreement, the Company would redeem the &ldquo;Proportional Representation Preferred Linked Stock&rdquo; (the &ldquo;<U>Preferred Stock</U>&rdquo;) and would agree not to issue any similar security or take any other action that would change the stockholder voting standards from those in effect prior to the issuance of the Preferred Stock.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 2pt; padding-left: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Litigation</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-top: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 2pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon execution and delivery of the Cooperation Agreement, Coliseum would voluntarily dismiss the litigation captioned &ldquo;<I>Coliseum Capital Management, LLC et al. v. Paul Zepf et al</I>.,&rdquo; inclusive of all amended pleadings filed therein, in the Delaware Court of Chancery.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 2pt 2pt 4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt">&#9679;</TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Each of the parties would release the other parties from all claims against the other prior to the date of the Cooperation Agreement arising from the facts underlying the captioned litigation.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 2pt 2pt 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Future
    Transactions</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition to any other votes required by law, Coliseum would commit to condition any proposal to acquire the Company on the approval of both (i) a special committee of directors who are independent and disinterested under Delaware law and (ii) holders of a majority of the Company&rsquo;s outstanding common stock not beneficially owned by Coliseum.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Announcement</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A public statement by the Company announcing the Cooperation Agreement would be in a form agreed between the Company and Coliseum.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 2pt 2pt 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Termination Date</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Cooperation Agreement would terminate the day following the date on which the 2024 AGM is held (the &ldquo;<U>Termination Date</U>&rdquo;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Subscription
    Agreement</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the avoidance of doubt, Coliseum&rsquo;s rights under that certain Subscription Agreement dated February 1, 2018 among the Company (f/k/a Global Partner Acquisition Corp.), Global Partner Sponsor I LLC, Coliseum Capital Partners, L.P. and Blackwell Partners LLC &ndash; Series A would not be deemed waived, amended or affected by the Cooperation Agreement.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Expenses</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon execution and delivery of the Cooperation Agreement, the Company would reimburse Coliseum&rsquo;s fees and expenses incurred in the litigation up to a cap of $4 million, subject to the Company and Coliseum agreeing on payment terms consistent with the Company&rsquo;s existing covenants.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 2pt 2pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-binding</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: Black 1pt solid; padding-top: 2pt; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 2pt 2pt 2pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This term sheet is for discussion purposes only and shall not be binding on any party, now or in the future. Any legally binding obligations related hereto shall be set forth solely in a duly executed and delivered Cooperation Agreement, if and when such agreement is executed and delivered by all parties thereto.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">PURPLE INNOVATION, INC. LEAD
INDEPENDENT DIRECTOR CHARTER<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP> 1</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 1in">This Lead Independent Director Charter (this &ldquo;Charter&rdquo;)
has been adopted by the Board of Directors (the &ldquo;Board&rdquo;) in connection with its oversight of the management and business affairs
of Purple Innovation, Inc. (the &ldquo;Company&rdquo;). The independent members of the Board shall appoint from among their number a Lead
Independent Director. On the date of adoption of this Charter, Mr. Gary DiCamillo has been appointed as, and shall continue as, the Lead
Independent Director. The Lead Independent Director shall perform such duties as described in this Charter and such other duties as determined
from time to time by the Board.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in">1.</TD><TD STYLE="text-align: justify">Authority and Responsibilities. The Lead Independent Director shall have the following authority and responsibilities:</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">a.</TD><TD STYLE="text-align: justify">In the event the Chairman has been determined by the Board not to be independent of the Company or disinterested as to a matter in
question, presides at meetings or &ldquo;executive sessions&rdquo; of the independent directors;</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">b.</TD><TD STYLE="text-align: justify">Presides at meetings of the Board in the absence or recusal of the Chairman or upon the request of the Chairman;</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">c.</TD><TD STYLE="text-align: justify">In coordination with the Chairman and the CEO, serves as a liaison to stockholders who request direct communications and consultation
with the Lead Independent Director or otherwise delegates such task to an appropriate member of the Board based on the circumstances;
and</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">d.</TD><TD STYLE="text-align: justify">Performs such other duties as the Board may from time to time delegate.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in">2.</TD><TD STYLE="text-align: justify">General. While this Charter should be interpreted in the context of applicable laws, regulations and listing requirements, as well
as in the context of the Company&rsquo;s Amended and Restated Certificate of Incorporation, as amended, and By-Laws, it is not intended
to establish by its own force any legally binding obligations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Approved by the Board on April [&nbsp;&nbsp; ], 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></TD><TD STYLE="text-align: justify">Note: References in the current Corporate Governance Guidelines
to &ldquo;Lead Independent Director&rdquo; would be deleted and instead the Corporate Governance Guidelines would add a reference to
this Charter.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Appendix</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.   <U>Standstill</U>.
Prior to the Termination Date, except as otherwise provided in the Cooperation Agreement and the below provisos, without approval by a
majority of the directors who are independent of Coliseum and disinterested as to the matter in question (&ldquo;<U>Disinterested Director
Approval</U>&rdquo;), Coliseum shall not, directly or indirectly:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
acquire, offer or seek to acquire, agree to acquire or acquire rights to acquire (except by way of stock dividends or other distributions
or offerings made available to holders of Voting Securities of the Company generally on a pro rata basis), directly or indirectly, whether
by purchase, tender or exchange offer, through the acquisition of control of another person, through swap or hedging transactions or otherwise,
any additional Voting Securities of the Company (other than through a broad-based market basket or index) or any voting rights decoupled
from the underlying Voting Securities; or (ii) sell its shares of Common Stock, other than in open market sale transactions where the
identity of the purchaser is not known and in underwritten widely dispersed public offerings or in a transaction in which the purchaser
agrees to be bound by the provisions of this Section 4; provided that the foregoing shall not restrict any acquisition of securities directly
from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
other than pursuant to the process set forth in <U>Section 2</U>, nominate, recommend for nomination or give notice of an intent to nominate
or recommend for nomination a person for election at any Stockholder Meeting at which the Company&rsquo;s directors are to be elected;
(ii) knowingly initiate, encourage or participate in any solicitation of proxies in respect of any election contest or removal contest
with respect to the Company&rsquo;s directors; (iii) submit, initiate, make or be a proponent of any stockholder proposal for consideration
at, or bring any other business before, any Stockholder Meeting; (iv) knowingly initiate, encourage or participate in any solicitation
of proxies in respect of any stockholder proposal for consideration at, or other business brought before, any Stockholder Meeting; or
(v) knowingly initiate, encourage or participate in any &ldquo;withhold&rdquo; or similar campaign with respect to any Stockholder Meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;form
or join any Section 13 &ldquo;group&rdquo; with respect to any Voting Securities of the Company, including in connection with any election
or removal contest with respect to the Company&rsquo;s directors or any stockholder proposal or other business brought before any Stockholder
Meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;seek
publicly, alone or in concert with others, to amend any provision of the Company&rsquo;s Second Amended and Restated Certificate of Incorporation
(as amended from time to time, the &ldquo;<U>Charter</U>&rdquo;) or Amended and Restated Bylaws (as amended from time to time, the &ldquo;<U>Bylaws</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
make any public proposal with respect to or (ii) make any public statement or otherwise publicly seek to encourage, advise or assist any
person in so publicly encouraging or advising with respect to: (A) any change in the number or term of directors serving on the Board
or the filling of any vacancies on the Board, (B) any change in the capitalization or dividend policy of the Company, (C) any other change
in the Company&rsquo;s management, governance, corporate structure, affairs or policies, (D) any Extraordinary Transaction, (E) causing
a class of securities of the Company to be delisted from, or to cease to be authorized to be quoted on, any securities exchange or (F)
causing a class of equity securities of the Company to become eligible for termination of registration pursuant to Section 12(g)(4) of
the Exchange Act (the term &ldquo;<U>Extraordinary Transaction</U>&rdquo; means any tender offer, exchange offer, merger, consolidation,
acquisition, business combination, sale, recapitalization, restructuring or other transaction with a Third Party that, in each case, results
in a change in control of the Company or the sale of substantially all of its assets; provided, however, that solely for the purposes
of the foregoing decision, Coliseum shall be deemed not to have control of the Company as of this Agreement);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>provided</U>, <U>however</U>,
that</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
restrictions in this <U>Section 4</U> shall not prevent Coliseum from (a) making any factual statement as required by applicable legal
process, subpoena or legal requirement from any governmental authority with competent jurisdiction over the party from whom information
is sought (so long as such request did not arise at the initiative of Coliseum); or (b) making any confidential communication to the Company
that would not be reasonably expected to trigger public disclosure obligations for any person; or (c) making any request on a non-public
basis for Disinterested Director Approval of a waiver of any provisions of this Section 4; or (d) exercising or enforcing its rights under
the Cooperation Agreement or the Subscription Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
restrictions in this <U>Section 4</U> shall not restrict Coliseum from tendering shares, receiving payment for shares or otherwise participating
in any such transaction on the same basis as the other stockholders of the Company or from participating in any such transaction that
has received Disinterested Director Approval, subject to the other terms of the Cooperation Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
restrictions in this <U>Section 4</U> shall not restrict any director of the Company from taking any action in his or her capacity as
a director of the Company (including as a member of any committee of the Board), including the exercise of fiduciary duties to the Company
or its stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">7</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ea176891ex99-2_purple.htm
<DESCRIPTION>PRESS RELEASE ISSUED BY THE COMPANY ON APRIL 13, 2023
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;Purple Innovation Announces Cooperative Framework
with Coliseum Capital</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Company to Welcome New Directors to Board</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Adam Gray to Serve as Board Chair</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Gary DiCamillo to Continue to Serve as Lead Independent
Director</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Company Will Redeem Cumulative Voting Proportional
Representation Preferred Linked Stock </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>LEHI, Utah &ndash; April 13, 2023 &ndash; </B>Purple
Innovation, Inc. (NASDAQ: PRPL) (&ldquo;Purple&rdquo; or the &ldquo;Company&rdquo;), a comfort innovation company known for creating the
&ldquo;World's First No Pressure&reg; Mattress,&rdquo; today announced that it has entered into a binding Memorandum of Understanding
to establish a cooperative governance framework (the &ldquo;Planned Cooperation Agreement&rdquo;) with Coliseum Capital Management, LLC
(together with its managed funds and accounts, &ldquo;Coliseum&rdquo;), the largest stockholder of the Company owning approximately 44%
of its common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of the Planned Cooperation Agreement,
which is anticipated to be executed promptly, the Purple Board of Directors (the &ldquo;Board&rdquo;) will be reconstituted to consist
of eight directors. Five of the directors currently serve on the Board: Adam Gray, CEO Robert T. DeMartini, Gary T. DiCamillo, Claudia
Hollingsworth and Dawn Zier. The three additional directors who will join were previously nominated by Coliseum in connection with the
Company&rsquo;s 2023 annual meeting of stockholders (the &ldquo;2023 Annual Meeting&rdquo;): S. Hoby Darling, R. Carter Pate and Erika
Serow. Mr. Gray will become Board Chair, while Mr. DiCamillo will continue to serve as Lead Independent Director and will become Chair
of the Nomination and Governance Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Concurrently, Paul Zepf and Pano Anthos will resign
as directors of the Company. Scott Peterson, who is a significant stockholder and has served as Board Observer since Purple&rsquo;s September
2022 acquisition of Intellibed, will be a nominee on the Board&rsquo;s slate of directors at the 2023 Annual Meeting in place of Dawn
Zier, who previously announced her intention not to stand for reelection. The Company will recommend that stockholders vote in favor of
its eight-person Board slate at its 2023 Annual Meeting. Coliseum has committed to vote in favor of the Company&rsquo;s slate of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. DiCamillo said, &ldquo;We are pleased to reach
this agreement with Coliseum and share its enthusiasm in positioning the Company to fully focus on its business and generating value on
behalf of all stakeholders. We also appreciate our longstanding partnership with Adam, the significant contributions he has made and his
unwavering support of management.&rdquo; Mr. DiCamillo continued, &ldquo;Hoby, Carter, Erika and Scott are all highly credentialed, collaborative
leaders who together bring significant experience helping to transform and scale companies. We are confident Purple will benefit from
their fresh perspectives and skillsets.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Gray added, &ldquo;Throughout his first 16 months
as CEO, Rob has demonstrated strong command for the business, inspiring Coliseum to invest meaningfully in support of the transformative
vision he has established, the team he is building, and the key strategic and operating priorities he has pursued. I remain energized
and excited to work alongside my director colleagues, both incumbent and new, to help Purple navigate its path towards maximizing value
for all stockholders. Coliseum has been a supportive investor in Purple for as long as it has been a public company, and we are confident
that our continued long-term, constructive engagement will benefit the Company and all of its stockholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. DiCamillo concluded, &ldquo;On behalf of the entire
Board, I would like to thank Paul and Pano for their service as directors of Purple. We are especially grateful for the sage advice and
contributions of Paul, who has helped to spearhead the Company through its evolution since entering the public market in 2018. We believe
the Company is well positioned to execute on our &lsquo;path to premium&rsquo; strategy to drive sustainable growth.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As part of the Planned Cooperation Agreement, Purple
will redeem the shares of Proportional Representation Preferred Linked Stock that were previously distributed as a dividend on shares
of Purple common stock and terminate its stockholder rights agreement. In addition, the Special Committee of the Board formed in September
2022 will be dissolved. Further, Coliseum will dismiss its litigation against the Company and has agreed to a customary standstill and
other terms lasting through the Company&rsquo;s 2024 annual meeting of stockholders, including a commitment not to exceed 44.7% ownership
of the Company, subject to certain exceptions. The Memorandum of Understanding and, once it is finalized, the Cooperation Agreement between
Purple and Coliseum, will be filed on a Current Report on Form 8-K with the U.S. Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sidley Austin LLP and Morris, Nichols, Arsht &amp;
Tunnell LLP are acting as legal advisors to Purple. Debevoise &amp; Plimpton LLP and Potter Anderson &amp; Corroon LLP are acting as legal
advisors to Coliseum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About S. Hoby Darling</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Darling has held several executive roles at Logitech
International (NASDAQ: LOGI), including most recently as Head of its Sports and Human Performance business group. He was previously President,
Chief Executive Officer and a member of the Board of Directors of Skullcandy (NASDAQ: SKUL), a leading consumer audio and technology company.
Prior to joining Skullcandy, Mr. Darling held several senior roles at Nike, Inc. (NYSE: NKE), including as Global General Manager of Nike+
Digital Sport and as Head of Strategy and Planning for Nike Affiliates. Prior to Nike, he served as SVP, Strategic Development and General
Counsel, at Volcom, Inc. (NASDAQ: VLCM), a leading manufacturer and marketer of consumer lifestyle products. Mr. Darling began his career
as a corporate attorney at the global law firm of Latham &amp; Watkins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About R. Carter Pate </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Pate is a member of the Board of Directors of
OptionCare Health (Nasdaq: OPCH) and prior Chairman of the Board of BioScrip, Inc (NASDAQ: BIOS) which merged in 2019 with OptionCare
Health. He is also Chairman of the Board of Riverbed Technologies. Previously, he was Chairman of the Board of Red Lion Hotels (NASDAQ:
RLH) and a member of the Board of Directors of Advanced Emissions Solutions, Inc. (NASDAQ: ADES). He was the former CEO of ModivCare (NASDAQ:
MODV), as well as the former CEO of MV Global Transportation, and for the bulk of his career was the Global Managing Partner of Health
Care for PricewaterhouseCoopers among other roles during his career. Mr. Pate was named a NACD Board Leadership Fellow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About Erika Serow</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ms. Serow is the Chief Marketing Officer of Bain &amp;
Company (&ldquo;Bain&rdquo;), responsible for Bain&rsquo;s global marketing and communication teams, and a member of Bain&rsquo;s Global
Operating Council (Executive Leadership Team), where she serves on the Investment and Risk committees. Prior to this role, she was the
Global President and US CEO for Sweaty Betty, a premium athletic apparel company. Ms. Serow began her career with a 20-year stint as a
consultant at Bain, where she ultimately led the firm&rsquo;s Retail practice in the Americas. She is a member of the Board of Directors
of Lazydays Holdings (NASDAQ: LAZY).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About Scott Peterson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Peterson was most recently the Chairman of the
Board, Chief Financial Officer and largest investor of Advanced Comfort Technologies, Inc. (&ldquo;Intellibed&rdquo;), a luxury mattress
company which was acquired by Purple in August 2022. He also was the Chairman of the Board of Utah Capital Investment Corporation, a Utah
based venture capital &ldquo;Fund of Funds&rdquo; through 2022. Previously, he served on the Board and as Audit Committee Chair for Mattson
Technology, Inc. a NASDAQ traded semi-equipment manufacturing company, which was acquired in 2016. He spent the majority of his 32-year
audit career with Ernst &amp; Young LLP, the global professional services firm, from which he retired in 2011 as the Pacific Northwest
Area Assurance (Audit) Managing Partner, based in the Silicon Valley.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; background-color: white"><B>About Purple</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Purple is a digitally-native vertical brand with a
mission to help people feel and live better through innovative comfort solutions. We design and manufacture a variety of innovative, premium,
branded comfort products, including mattresses, pillows, cushions, frames, sheets and more. Our products are the result of over 30 years
of innovation and investment in proprietary and patented comfort technologies and the development of our own manufacturing processes.
Our proprietary gel technology, Hyper-Elastic Polymer&reg;, underpins many of our comfort products and provides a range of benefits that
differentiate our offerings from other competitors' products. We market and sell our products through our direct-to-consumer online channels,
traditional retail partners, third-party online retailers and our owned retail showrooms. For more information on Purple, visit purple.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; background-color: white"><B>Additional Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; text-align: justify; background-color: white">The Company intends
to file a definitive proxy statement on Schedule 14A, an accompanying WHITE proxy card and other relevant documents with the U.S. Securities
and Exchange Commission (the &quot;SEC&quot;) in connection with the solicitation of proxies from the Company's shareholders for the 2023
Annual Meeting.&nbsp;<B>SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE COMPANY'S DEFINITIVE PROXY STATEMENT (INCLUDING
ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BEFORE MAKING ANY VOTING OR INVESTMENT DECISION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.</B>&nbsp;Shareholders may obtain a copy
of the definitive proxy statement, an accompanying WHITE proxy card, any amendments or supplements to the definitive proxy statement and
other documents filed by the Company with the SEC at no charge at the SEC's website at&nbsp;www.sec.gov. Copies will also be available
at no charge in the &quot;SEC Filings&quot; section of the Company's Investor Relations website at&nbsp;https://investors.purple.com/sec-filings/default.aspx&nbsp;or
by contacting the Company's Investor Relations department at&nbsp;ir@purple.com, as soon as reasonably practicable after such materials
are electronically filed with, or furnished to, the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; background-color: white"><B>Participants in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; text-align: justify; background-color: white">The Company, its
directors and certain of its executive officers are participants in the solicitation of proxies from the Company's shareholders in connection
with matters to be considered at the 2023 Annual Meeting. Information regarding the direct and indirect interests, by security holdings
or otherwise, of the Company's directors and executive officers is included in the Company's Proxy Statement on Schedule 14A for its 2022
annual meeting of shareholders, filed with the SEC on April 1, 2022, the Company's Annual Report on Form 10-K for the year ended December
31, 2022, filed with the SEC on March 22, 2023, and in the Company's Current Reports on Form 8-K filed with the SEC from time to time.
Changes to the direct or indirect interests of the Company's directors and executive officers are set forth in SEC filings on Initial
Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4. These documents are available free of charge
as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; background-color: white"><B>Forward Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; text-align: justify; background-color: white">Certain statements
made in this release that are not historical facts are &quot;forward-looking statements&quot; within the meaning of the &quot;safe harbor&quot;
provisions of the United States Private Securities Litigation Reform Act of 1995. Statements based on historical data are not intended
and should not be understood to indicate the Company's expectations regarding future events. Forward-looking statements provide current
expectations or forecasts of future events or determinations. These forward-looking statements are not guarantees of future performance,
conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of
which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the
forward-looking statements. Factors that could influence the realization of forward-looking statements include the risk factors outlined
in the &quot;Risk Factors&quot; section of our Annual Report on Form 10-K filed with the SEC on March 22, 2023. Many of these risks and
uncertainties have been, and will be, exacerbated by the COVID&ndash;19 pandemic and any worsening of the global business and economic
environment as a result. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, except as required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; text-align: justify; background-color: white"><B>No Offer or Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; text-align: justify; background-color: white">This release is not
a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities and shall not constitute an offer
to sell or a solicitation of an offer to buy any securities nor shall there be any sale of securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such
state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities
Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Brendon Frey, ICR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">brendon.frey@icrinc.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">203-682-8200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Media:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Longacre Square Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dan Zacchei / Joe Germani</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">purple@longacresquare.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
