Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., Sep. 19, 7:36 AM
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Slide #20. Purple Innovation, Inc — Secondary Offering
Purple Innovation, Inc (NASDAQ:PRPL)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure Mattress," today announced the launch of an underwritten secondary public offering of 11,826,087 shares of its Class A common stock to be sold by InnoHold, LLC (the "Selling Stockholder"). The underwriters have a 30-day option period to purchase up to 1,773,913 additional shares of Class A common stock from the Selling Stockholder. This represents the entirety of the Selling Stockholder's interest in Purple. -updated 9/9- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), the leader in comfort innovation and the creator of the renowned Purple Mattress, today announced the pricing of an underwritten secondary public offering of 11,826,087 shares of its Class A common stock to be sold by InnoHold, LLC (the "Selling Stockholder"). The shares of Class A common stock are being sold at a price of $18.50 per share. The underwriter has a 30-day option period to purchase up to 1,773,913 additional shares of Class A Common Stock from the Selling Stockholder at the same price per share. The offering is expected to close on September 14, 2020, subject to customary closing conditions.
Purple Innovation designs and manufactures a range of comfort technology products, including mattresses, pillows and cushions, using its Hyper-Elastic Polymer® and Purple Grid technologies. The bedding category encompasses a variety of products including mattresses, bases, foundations, sheets, mattress protectors, blankets, duvets and pillows. Co.'s seat cushions and other category consists of seating cushions and other products that can be purchased independent of furniture. Co. markets and sells its products through direct-to-consumer online channels, retail brick-and-mortar wholesale partners, third-party online retailers and its Company showrooms.
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Strong Buy (3.87 out of 4)
(ranked higher than approx. 78% of all stocks covered)
Based on Zacks ABR data;
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