Purple Innovation Receives Nasdaq Compliance Extension After Reverse Stock Split

Purple Innovation, Inc. received a decision from the Nasdaq Hearings Panel granting the company continued listing on Nasdaq, subject to demonstrating compliance with the minimum bid price requirement by July 31, 2026. The company had previously received a delisting notice in May 2026 due to its stock price falling below $1 per share for 30 consecutive business days. To address this, Purple Innovation implemented a 1-for-25 reverse stock split effective July 20, 2026, with shares opening at $7.12 on a split-adjusted basis. The Panel's decision requires the company to maintain a closing bid price of at least $1.00 per share for ten consecutive trading days by the deadline. The Panel reserves the right to reconsider the exception based on any developments that might make continued listing inadvisable. Failure to meet these conditions could result in delisting from Nasdaq.