SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 10)*

 

 

PURPLE INNOVATION, INC.

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

74640Y 106

(CUSIP Number)

Christopher Shackelton/Adam Gray

105 Rowayton Avenue

Rowayton, CT 06853

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 13, 2020

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §240.13d-1(e), §240.13d-1(f) or §240.13d-1(g), check the following box. ☐

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 74640Y 106    13D/A    Page 2 of 10

 

  1.    

  Names of reporting persons.

 

  Coliseum Capital Management, LLC

  2.  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC use only

 

  4.  

  Source of funds (see instructions)

 

  AF

  5.  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6.  

  Citizenship or place of organization

 

  Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     7.     

  Sole voting power

 

  0

     8.   

  Shared voting power

 

  16,420,942 (1)

     9.   

  Sole dispositive power

 

  0

   10.   

  Shared dispositive power

 

  16,420,942 (1)

11.    

  Aggregate amount beneficially owned by each reporting person

 

  16,420,942 (1)

12.  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

13.  

  Percent of class represented by amount in Row (11)

 

  25.7% (1)

14.  

  Type of reporting person (see instructions)

 

  IA

 

(1)

Consists of (a) 13,529,693 shares of Class A common stock, par value $0.0001 per share (the “Class A Stock”), of the Purple Innovation, Inc. (the “Issuer”), and (b) 2,891,249 shares of Class A Stock that could be obtained upon conversion of 5,782,500 warrants received in connection with the Agreement to Assign Sponsor Warrants, dated February 2, 2018 by and among the Issuer, Global Partner Sponsor I LLC, Continental Stock Transfer and Trust Company, Coliseum Capital Partners, L.P. (“CCP”), Coliseum Co-Invest Debt Fund, L.P. (“COC”) and a separate account investment advisory client (the “Separate Account”) of Coliseum Capital Management, LLC (the “Private Placement Warrants”), with each Private Placement Warrant providing the right to purchase one-half share of Class A Stock per Private Placement Warrant at a price of $5.75 per half share.


CUSIP No. 74640Y 106    13D/A    Page 3 of 10

 

  1.    

  Names of reporting persons.

 

  Coliseum Capital, LLC

  2.  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC use only

 

  4.  

  Source of funds (see instructions)

 

  AF

  5.  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6.  

  Citizenship or place of organization

 

  Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     7.     

  Sole voting power

 

  0

     8.   

  Shared voting power

 

  12,882,658 (1)

     9.   

  Sole dispositive power

 

  0

   10.   

  Shared dispositive power

 

  12,882,658 (1)

11.    

  Aggregate amount beneficially owned by each reporting person

 

  12,882,658 (1)

12.  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

13.  

  Percent of class represented by amount in Row (11)

 

  20.4% (1)

14.  

  Type of reporting person (see instructions)

 

  OO

 

(1)

Consists of (a) 10,511,990 shares of Class A Stock, and (b) 2,370,668 shares of Class A Stock that could be obtained upon conversion of 4,741,337 Private Placement Warrants.


CUSIP No. 74640Y 106    13D/A    Page 4 of 10

 

  1.    

  Names of reporting persons.

 

  Coliseum Capital Partners, L.P.

  2.  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC use only

 

  4.  

  Source of funds (see instructions)

 

  WC

  5.  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6.  

  Citizenship or place of organization

 

  Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     7.     

  Sole voting power

 

  0

     8.   

  Shared voting power

 

  10,148,182 (1)

     9.   

  Sole dispositive power

 

  0

   10.   

  Shared dispositive power

 

  10,148,182 (1)

11.    

  Aggregate amount beneficially owned by each reporting person

 

  10,148,182 (1)

12.  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

13.  

  Percent of class represented by amount in Row (11)

 

  16.3% (1)

14.  

  Type of reporting person (see instructions)

 

  PN

 

(1)

Consists of (a) 8,777,514 shares of Class A Stock, and (b) 1,370,668 shares of Class A Stock that could be obtained upon conversion of 2,741,337 Private Placement Warrants.


CUSIP No. 74640Y 106    13D/A    Page 5 of 10

 

  1.    

  Names of reporting persons.

 

  Coliseum Co-Invest Debt Fund, L.P.

  2.  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC use only

 

  4.  

  Source of funds (see instructions)

 

  WC

  5.  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6.  

  Citizenship or place of organization

 

  Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     7.     

  Sole voting power

 

  0

     8.   

  Shared voting power

 

  1,000,000 (1)

     9.   

  Sole dispositive power

 

  0

   10.   

  Shared dispositive power

 

  1,000,000 (1)

11.    

  Aggregate amount beneficially owned by each reporting person

 

  1,000,000 (1)

12.  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

13.  

  Percent of class represented by amount in Row (11)

 

  1.6% (1)

14.  

  Type of reporting person (see instructions)

 

  PN

 

(1)

Consist of 1,000,000 shares of Class A Stock that could be obtained upon conversion of 2,000,000 Private Placement Warrants.


CUSIP No. 74640Y 106    13D/A    Page 6 of 10

 

  1.    

  Names of reporting persons.

 

  Coliseum Capital Co-Invest III, L.P.

  2.  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC use only

 

  4.  

  Source of funds (see instructions)

 

  WC

  5.  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6.  

  Citizenship or place of organization

 

  Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     7.     

  Sole voting power

 

  0

     8.   

  Shared voting power

 

  1,734,476

     9.   

  Sole dispositive power

 

  0

   10.   

  Shared dispositive power

 

  1,734,476

11.    

  Aggregate amount beneficially owned by each reporting person

 

  1,734,476

12.  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

13.  

  Percent of class represented by amount in Row (11)

 

  2.8%

14.  

  Type of reporting person (see instructions)

 

  PN


CUSIP No. 74640Y 106    13D/A    Page 7 of 10

 

  1.    

  Names of reporting persons.

 

  Adam Gray

  2.  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC use only

 

  4.  

  Source of funds (see instructions)

 

  AF

  5.  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6.  

  Citizenship or place of organization

 

  United States

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     7.     

  Sole voting power

 

  0

     8.   

  Shared voting power

 

  16,420,942 (1)

     9.   

  Sole dispositive power

 

  0

   10.   

  Shared dispositive power

 

  16,420,942 (1)

11.    

  Aggregate amount beneficially owned by each reporting person

 

  16,420,942 (1)

12.  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

13.  

  Percent of class represented by amount in Row (11)

 

  25.7% (1)

14.  

  Type of reporting person (see instructions)

 

  IN

 

(1)

Consists of (a) 13,529,693 shares of Class A Stock, and (b) 2,891,249 shares of Class A Stock that could be obtained upon conversion of 5,782,500 Private Placement Warrants.


CUSIP No. 74640Y 106    13D/A    Page 8 of 10

 

  1.    

  Names of reporting persons.

 

  Christopher Shackelton

  2.  

  Check the appropriate box if a member of a group (see instructions)

  (a)  ☐        (b)  ☒

 

  3.  

  SEC use only

 

  4.  

  Source of funds (see instructions)

 

  AF

  5.  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6.  

  Citizenship or place of organization

 

  United States

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     7.     

  Sole voting power

 

  0

     8.   

  Shared voting power

 

  16,420,942 (1)

     9.   

  Sole dispositive power

 

  0

   10.   

  Shared dispositive power

 

  16,420,942 (1)

11.    

  Aggregate amount beneficially owned by each reporting person

 

  16,420,942 (1)

12.  

  Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

  ☐

13.  

  Percent of class represented by amount in Row (11)

 

  25.7% (1)

14.  

  Type of reporting person (see instructions)

 

  IN

 

(1)

Consists of (a) 13,529,693 shares of Class A Stock, and (b) 2,891,249 shares of Class A Stock that could be obtained upon conversion of 5,782,500 Private Placement Warrants.


CUSIP No. 74640Y 106    13D/A    Page 9 of 10

 

Explanatory Note: This Amendment No. 10 (this “Amendment”) to the Schedule 13D (the “Initial 13D”), filed by the Reporting Persons with the Securities and Exchange Commission (the “SEC”) on February 12, 2018 and as amended and supplemented by Amendment No. 1 to the Initial 13D filed on May 23, 2018, Amendment No. 2 to the Initial 13D filed on June 12, 2018, Amendment No. 3 to the Initial 13D filed on March 1, 2019, Amendment No. 4 to the Initial 13D filed on November 19, 2019, Amendment No. 5 to the Initial 13D filed on May 22, 2020, Amendment No. 6 to the Initial 13D filed on July 8, 2020, Amendment No. 7 to the Initial 13D filed on August 24, 2020, Amendment No. 8 to the Initial 13D filed on September 14, 2020, and Amendment No. 9 to the Initial 13D filed on November 23, 2020, amends and supplements certain of the items set forth therein.

This Amendment is being filed solely to correct the percentage calculations included in Amendment No. 9 to the Initial 13D filed on November 23, 2020.

As used in this Amendment, the term “Reporting Persons” collectively refers to:

 

   

Coliseum Capital Management, LLC, a Delaware limited liability company (“CCM”);

 

   

Coliseum Capital, LLC, a Delaware limited liability company (“CC”);

 

   

Coliseum Capital Partners, L.P., a Delaware limited partnership (“CCP”);

 

   

Coliseum Co-Invest Debt Fund, L.P., a Delaware limited partnership (“COC”);

 

   

Coliseum Capital Co-Invest III, L.P., a Delaware limited partnership (“CCC III”);

 

   

Adam Gray (“Gray”), a director of the Issuer; and

 

   

Christopher Shackelton (“Shackelton”).

Item 5. Interest in Securities of the Issuer.

Item 5 is hereby amended and supplemented as follows:

The information relating to the beneficial ownership of Class A Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated by reference herein. The percentages set forth in Row 13 for all cover pages filed herewith are calculated based upon 60,934,097 shares of Class A Stock outstanding as of November 9, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on November 10, 2020. When including the Issuer’s Class B common stock, par value $0.0001 per share (the “Class B Stock” and, together with the Class A Stock, the “Common Stock”), the Reporting Persons beneficially own 25.5% of the Common Stock.


SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DATED: November 24, 2020

 

COLISEUM CAPITAL MANAGEMENT, LLC                          COLISEUM CO-INVEST DEBT FUND, L.P.
    By:   Coliseum Capital, LLC, General Partner
By:  

/s/ Chivonne Cassar

    By:  

/s/ Chivonne Cassar

  Chivonne Cassar, Attorney-in-fact       Chivonne Cassar, Attorney-in-fact
COLISEUM CAPITAL, LLC     COLISEUM CAPITAL CO-INVEST III, L.P.
    By:   Coliseum Capital, LLC, General Partner
By:  

/s/ Chivonne Cassar

     
  Chivonne Cassar, Attorney-in-fact     By:  

/s/ Chivonne Cassar

      Chivonne Cassar, Attorney-in-fact
COLISEUM CAPITAL PARTNERS, L.P.     ADAM GRAY
By: Coliseum Capital, LLC, General Partner      
    By:  

/s/ Chivonne Cassar

By:  

/s/ Chivonne Cassar

      Chivonne Cassar, Attorney-in-fact
  Chivonne Cassar, Attorney-in-fact      
    CHRISTOPHER SHACKELTON
    By:  

/s/ Chivonne Cassar

      Chivonne Cassar, Attorney-in-fact