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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 5, 2025
Purple Innovation, Inc.
(Exact Name of Registrant as Specified in its
Charter)
| Delaware |
|
001-37523 |
|
47-4078206 |
| (State of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
| 4100 North Chapel Ridge Rd., Suite 200 |
|
|
| Lehi, Utah |
|
84048 |
| (Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (801) 756-2600
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ |
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Class A Common Stock, par value $0.0001 per share |
|
PRPL |
|
The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b–2
of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).
Emerging growth company ☐
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. ☐
ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO
SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.
On November 5, 2025, Purple Innovation, Inc. (the
“Company”) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”)
that the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1), as the closing bid price of the Company’s common stock
has been below the required minimum of $1.00 per share for 30 consecutive business days. The notification of noncompliance has no immediate
effect on the listing or trading of the Company’s Class A common stock on The Nasdaq Global Select Market.
The Company has 180 calendar days, or until May
4, 2026, to regain compliance with the minimum bid price requirement in Nasdaq Listing Rule 5450(a)(1). To regain compliance, the closing
bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during
this 180-calendar day compliance period. In the event the Company does not regain compliance with the minimum bid price requirement by
May 4, 2026, the Company may be eligible for an additional 180-calendar day compliance period if it elects to transfer to The Nasdaq Capital
Market to take advantage of the additional compliance period offered on that market. To qualify, the Company would be required to meet
the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital
Market, with the exception of the minimum bid price requirement, and would need to provide written notice of its intention to cure the
bid price deficiency during the second compliance period by effecting a reverse stock split if necessary. In the event the Company fails
to regain compliance or is not permitted to transfer to The Nasdaq Capital Market before the initial compliance period expires, the Company
will receive a written notification from Nasdaq that its common stock is subject to delisting. If the Company were to receive such a notification,
the Company could appeal Nasdaq’s determination to delist its common stock, but there can be no assurance Nasdaq would grant the
Company’s request for continued listing.
The Company intends to actively monitor the bid
price of its common stock and will consider available options to regain compliance with the minimum bid price requirement. There can be
no assurance that the Company will be able to regain compliance with Nasdaq Listing Rule 5450(a)(1) or will otherwise be in compliance
with other Nasdaq listing requirements.
SIGNATURE
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.
| Dated: November 6, 2025 |
PURPLE INNOVATION, INC. |
| |
|
|
| |
By: |
/s/ Todd Vogensen |
| |
|
Todd Vogensen |
| |
|
Chief Financial Officer |
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