Acquiring Company
Purple
Acquired Company
Intellibed
LehiManufacturingE CommerceFashionRetailDescription
Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced its acquisition of Advanced Comfort Technologies, Inc., known as Intellibed, a premium luxury gel-based mattress manufacturer pursuant to a merger agreement under which Intellibed merged with a subsidiary of Purple, with Intellibed surviving as a subsidiary of Purple. The merger consideration to Intellibed securityholders is 8 million shares of Purple's Class A common stock, subject to customary working capital and other adjustments. Pursuant to the terms of the merger agreement, Purple may issue an additional 1,500,000 shares of Class A common stock to Intellibed securityholders depending upon the price of the Class A common stock over the next 18 months.
Quick answer
Purple is acquiring Intellibed, announced September 1, 2022. Purple is based in Lehi, Utah, United States.
- How much did Purple pay for Intellibed?
- The deal value was not disclosed.
- What does Purple do?
- Purple is a digitally-native vertical brand with a mission to help people feel and live better through innovative comfort solutions.
- Where are Purple and Intellibed based?
- Purple is based in Lehi, Utah, United States.
- Who are the decision-makers at Purple?
- Fundz holds 1 contact at Purple. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who to call at Purple, and when
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Frequently asked
Who acquired Intellibed?
Intellibed was acquired by Purple, based in Lehi. The deal was reported on September 1, 2022. Purple is a digitally-native vertical brand with a mission to help people feel and live better through innovative comfort solutions. Purple is privately held and operates in Manufacturing.
When did Purple acquire Intellibed?
Purple's acquisition of Intellibed was reported on September 1, 2022. Purple Innovation, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Intellibed do?
Discover the Bed of the Future with Intellibed, featuring Gel Matrix™. Our gel mattresses are both firm and soft, ensuring comfort for every body. Discover better sleep today. It is privately held.
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