Form 8-K
8-K — Purple Innovation, Inc.
Accession: 0001213900-26-080265
Filed: 2026-07-22
Period: 2026-07-20
CIK: 0001643953
SIC: 2510 (HOUSEHOLD FURNITURE)
Item: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Documents
8-K — ea0298652-8k_purple.htm (Primary)
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8-K — CURRENT REPORT
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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):
July 20, 2026
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
(Former name or former address, if changed since
last report)
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:
☐
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 Listing Rules
As previously disclosed, on May 5, 2026, Purple
Innovation, Inc. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC
(“Nasdaq”) indicating that, as notified by Nasdaq on November 5, 2025, the bid price of the Company’s listed security
had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, did not comply with Listing Rule
5450(a)(1) (the “Rule”). On June 11, the Company presented to the Nasdaq Hearings Panel (the “Panel”) its plan
to regain compliance, which had the effect of staying any suspension or delisting action pending the Panel’s decision.
On July 20, 2026, the Company received a written
decision (the "Decision") from the Panel noting the Panel’s determination to grant the Company's request for continued
listing on Nasdaq, subject to the condition that, on or before July 31, 2026, the Company demonstrate compliance with the Rule by evidencing
a closing bid price of at least $1.00 per share for a minimum of ten (10) consecutive trading days.
In connection with its compliance plan presented
to the Panel, the Company's stockholders approved a reverse stock split (the “Reverse Stock Split”) of the Company's common
stock at a ratio to be determined by the Company's Board of Directors within a range of 1-for-10 to 1-for-30. The Board subsequently fixed
the final ratio of the Reverse Stock Split at 1-for-25. The Reverse Stock Split became effective prior to the opening of trading on July
20, 2026. The Company's common stock opened trading on a split-adjusted basis on Nasdaq on July 20, 2026 at $7.12 per share.
The Decision provides that the Panel reserves
the right to reconsider the terms of the exception based on any event, condition, or circumstance that develops that would, in the Panel's
opinion, make continued listing of the Company's securities inadvisable or unwarranted. The Company is required to provide prompt notification
to Nasdaq of any significant events occurring during the exception period that may affect its compliance with Nasdaq's requirements. Any
compliance documentation submitted by the Company will be subject to review by the Panel, which may request additional information before
determining that the Company has satisfied the terms of the exception.
There can be no assurance that the Company will
regain compliance with the Bid Price Rule within the time period specified by the Panel, that the Panel will not exercise its discretion
to reconsider or modify the terms of the exception, or that the Company's common stock will remain listed on Nasdaq. If the Company does
not regain compliance within the required time period, or if the Panel otherwise determines the Company has not satisfied the terms of
the Decision, the Company's common stock would become subject to delisting from Nasdaq, subject to the Company's right to request review
by the Nasdaq Listing and Hearing Review Council.
1
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: July 22, 2026
PURPLE INNOVATION, INC.
By:
/s/ Robert G. Lucian
Robert G. Lucian
Chief Financial Officer
2
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