GPAC I
Purple Innovation is a digitally-native vertical brand with a mission to help people feel and live better through innovative comfort solutions
Purple Innovation (Nasdaq: PRPL) and GPAC completed their business combination in February 2018
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GPAC worked constructively with founders, management, and the Board in several key areas to help drive Purple’s success |
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Purple has continued to perform in line with GPAC’s projections and ahead of market expectations, earning a premium multiple over traditional mattress names, in line with fast-growing, D2C disruptors |
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GPAC’s accurate guidance with Purple has established credibility with investors for our next merger partner |
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Pre-existing Purple shareholders achieved desired liquidity, with partial liquidity in the merger and full liquidity via the public markets within three years |
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GPAC remains highly engaged with Purple, with Paul Zepf being appointed Chairman of the Board in August 2020 |
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Lead PIPE investors brought in by GPAC continue to be significant, supportive long-term shareholders |
“Paul has been instrumental in the board's strategic and tactical planning… The timing of this transition is based in large part on Paul's consistent shared vision and passion for Purple, his proven leadership skills and his continuing tremendous contributions in helping Purple flourish as a public company.”
- Tony Pearce, Purple co-founder, August 2020