Purple Innovation initiates review of strategic alternatives

Purple Innovation (PRPL) announced that its Board of Directors has initiated a review of strategic alternatives for the company, following inbound expressions of interest. The Board will consider a broad range of opportunities to maximize shareholder value, including, but not limited to, a sale, merger, or other strategic or financial transaction. The Board has not set a timetable for the conclusion of its evaluation, nor has it made any decisions related to any potential strategic alternatives at this time. Purple does not intend to comment on this review of strategic alternatives until it deems further disclosure is appropriate or necessary. There can be no assurances as to the outcome or timing of such review, or whether any particular transaction may be pursued or consummated. Purple has retained Jefferies as financial advisor to assist in its review of strategic alternatives.