Purple Innovation special committee comments on Capital Management filing

Purple Innovation responded to the amended Schedule 13D filed with the SEC by Coliseum Capital on January 17. The statement by the Special Committee of the Board states, among other things: "The Special Committee values Coliseum’s investment in Purple and shares Coliseum’s enthusiasm for, and confidence in, the company’s plan and management team. However, the Special Committee is disappointed that within days of the Special Committee rejecting Coliseum’s inadequate and below-market buyout proposal, Coliseum is seeking to replace most of the Board…Coliseum’s Managing Partner Adam Gray has served on the Board since the time that Purple went public in 2018…Coliseum’s current proposal to reconstitute Purple’s Board of Directors goes beyond what we consider appropriate: Coliseum is seeking the right to appoint, identify or approve every member of Purple’s Board…We remain interested in working cooperatively with Coliseum, and we will continue to seek to do so while protecting the interests of all shareholders."