13D Filing: Coliseum Capital and Purple Innovation Inc. (PRPL)

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No.     )*

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)

February 2, 2018

(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 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).

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Item 1. Security and Issuer.

This Schedule 13D (this Schedule 13D) relates to the Class A common stock, par value $0.0001 per share (the
Class A Stock), of Purple Innovation, Inc. (the Issuer) (formerly known as Global Partner Acquisition Corp. (GPAC)), a Delaware corporation. The principal executive offices
of the Issuer are located at 123 East 200 North, Alpine, UT 84004.

Item 2. Identity and Background.

The persons filing this statement and the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization,
general partners, directors, executive officers and controlling persons and the information regarding them, are as follows:

The foregoing persons are hereinafter
sometimes collectively referred to as the Reporting Persons.

CCM is the investment adviser to CCP and COC, which are investment limited partnerships. CC is the General Partner of CCP
and COC. Gray and Shackelton are the managers of CC and CCM.

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Item 3. Source and Amount of Funds or Other Consideration.

The source and amount of funds used in purchasing the Class A Stock and Warrants by the Reporting Persons and a separate account investment advisory
client of CCM (the Separate Account) were as follows:

Item 4. Purpose of Transaction.

Overview

On February 2, 2018, the Issuer
consummated a business combination pursuant to that certain Agreement and Plan of Merger (the Merger Agreement), by and among the Issuer, PRPL Acquisition, LLC, a Delaware limited liability company and a wholly owned subsidiary of
the Issuer (Merger Sub), Purple Innovation, LLC, a Delaware limited liability company (Purple LLC), InnoHold, LLC, a Delaware limited liability company and the sole equity holder of Purple LLC
(Innohold), and Global Partner Sponsor I LLC, solely in its capacity thereunder as the representative of GPAC after the consummation of the transactions contemplated by the Merger Agreement (the Sponsor), which
provided for the Issuers acquisition of Purple LLCs business through a merger of Merger Sub with and into Purple LLC, with Purple LLC being the survivor in the merger (the Business Combination). In connection with the
closing of the Business Combination (the Closing), the Issuer changed its name from Global Partner Acquisition Corp. to Purple Innovation, Inc.

Credit Agreement and Parent Guaranty

On
February 2, 2018, Purple LLC entered into a Credit Agreement (the Credit Agreement) with CCP, the Separate Account and COC (together with CCP and the Separate Account, the Lenders), pursuant to which the
Lenders agreed to make a loan to Purple LLC in an aggregate principal amount of $25 million (the Loan). The Loan was closed and funded in connection with the Closing of the Business Combination on February 2, 2018. As
part of the Credit Agreement, the Sponsor agreed to assign to the Lenders an aggregate of 2,500,000 Warrants to purchase 1,250,000 shares of Class A Stock.

In connection with the Credit Agreement, on February 2, 2018, the Issuer entered into a Parent Guaranty (the Parent Guaranty) with the
Lenders pursuant to which the Issuer agreed to an unconditional guaranty of the payment of all obligations and liabilities of Purple LLC under the Credit Agreement.

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The foregoing summary of the Credit Agreement and Parent Guaranty does not purport to be complete and is
subject to, and qualified in its entirety by, the full text of the Credit Agreement and Parent Guaranty, respectively, which are filed as Exhibits 2 and 3, respectively, to this Schedule 13D and are incorporated by reference herein.

Private Placement and Appointment of Adam Gray as a Director

On February 1, 2018, the Issuer entered into a Subscription Agreement (the Subscription Agreement) with CCP and the Separate Account,
pursuant to which CCP agreed to purchase from the Issuer 2,900,000 shares of Class A Stock at a purchase price of $10.00 per share and the Separate Account agreed to purchase from the Issuer 1,100,000 shares of Class A Stock at a
purchase price of $10.00 per share (the Private Placement).

The Subscription Agreement provides that the Issuer would commit to
elect or appoint a designee of CCP and the Separate Account to become a member of the board of directors of the Issuer following the Closing. In connection with the Closing, the board of directors of the Issuer adopted resolutions increasing the
number of directors of the Issuer to eight and appointing Gray as a director. The Subscription Agreement also provides that, for long as CCP and the Separate Account (together with any other funds or accounts managed by CCM) hold in the aggregate at
least 50% of the number of shares of Class A Stock held by CCP and the Separate Account as of and after giving effect to the Closing, the Issuer shall nominate and include one designee of CCM in each slate of members of the board of directors
proposed to stockholders of the Issuer, whether at the annual meeting or otherwise, subject to certain conditions.

Under the Subscription Agreement, so
long as CCP and the Separate Account hold at least 50% of the number of shares of Class A Stock held by them in the aggregate as of and after giving effect to the Closing, CCP and the Separate Account (and any other funds or accounts managed by
CCM) have a right of first refusal to provide all, but not less than all, of any of the following financings by the Issuer or any of its subsidiaries: (i) preferred equity financing with a preference to or over any of the terms of the
Issuers common stock and (ii) any debt financing with a principal amount outstanding (together with all other debt provided by lender or group of lenders) greater than or equal to $10 million, other than (x) the replacement or
refinancing of existing indebtedness or (y) an asset based loan on customary terms with an all in interest rate of not greater than 5% per year, by the Issuer or any of its subsidiaries.

The Subscription Agreement also provides that each of CCP and the Separate Account will have preemptive rights with respect to future sales of the
Issuers Equity Securities (as such term is defined in Subscription Agreement) provided it holds at least 50% of the number of shares of Class A Stock held by it as of and after giving effect to the Closing, subject to certain exceptions.

On February 2, 2018, in connection with the Closing of the Business Combination, the Issuer and CCP and the Separate Account completed the Private
Placement in accordance with the terms of the Subscription Agreement.

The foregoing summary of the Subscription Agreement does not purport to be complete
and is subject to, and qualified in its entirety by, the full text of the Subscription Agreement, which is filed as Exhibit 4 to this Schedule 13D and is incorporated by reference herein.

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Warrant Assignment Agreement

In connection with the Private Placement and the Credit Agreement, on February 2, 2018, the Sponsor, the Issuer, Continental Stock Transfer and Trust
Company, CCP, the Separate Account and COC entered into an Agreement to Assign Sponsor Warrants (the Warrant Assignment Agreement), pursuant to which the Sponsor agreed to assign to CCP, the Separate Account and COC an aggregate
of 5,782,500 outstanding sponsor warrants (the Warrants), including 3,282,500 Warrants related to the Private Placement and 2,500,000 Warrants related to the Credit Agreement. Each Warrant entitles the holder thereof to
purchase one-half of one share of Class A Stock at a price of $5.75 per half share, subject to adjustment. A Warrant may be exercised only during the period (x) commencing on the date that is thirty
(30) days after the first date on which the Issuer completed the Business Combination and (y) terminating at 5:00 p.m., New York City time, on the date that is five (5) years after the date on which the Issuer completed the Business
Combination.

In accordance with Subscription Agreement and Warrant Assignment Agreement, the Warrants are subject to the terms of (i) Section 7
of a Letter Agreement, dated July 29, 2015, by and among the Issuer and certain security holders, officers and directors of the Issuer (the Insider Letter), (ii) a Sponsor Warrants Purchase Agreement, dated as of
June 11, 2015, by and between the Issuer and the Sponsor (the Warrant Purchase Agreement), and (iii) a Warrant Agreement, dated as of July 29, 2015, by and between the Issuer and Continental Transfer &
Trust Company, as warrant agent (the Warrant Agreement). The Insider Letter prohibits any transfer of the Warrants or Class A Stock issued or issuable upon the exercise thereof, until thirty (30) days after the Closing
of the Business Combination. The Warrant Agreement provides that the Warrants (i) may be exercised for cash or on a cashless basis, pursuant to the terms of the Warrant Agreement, (ii) may not be transferred, assigned or sold until
thirty (30) days after the completion by the Issuer of the Business Combination, and (iii) shall not be redeemable by the Issuer.

On
February 2, 2018, in connection with the Closing of the Business Combination, the Sponsor and CCP, the Separate Account and COC completed the assignment of the Warrants in accordance with the terms of the Warrant Assignment Agreement.

The foregoing summary of the Subscription Agreement, the Warrant Assignment Agreement, the Insider Letter, the Warrant Purchase Agreement and the Warrant
Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Subscription Agreement, the Warrant Assignment Agreement, the Insider Letter, the Warrant Purchase Agreement and the Warrant
Agreement, respectively, copies of which are filed as Exhibits 4, 5, 6, 7 and 8, respectively, to this Schedule 13D and are incorporated by reference herein.

Founder Share Assignment Agreement

In connection
with the Private Placement, on February 2, 2018, the Sponsor, the Issuer, Continental Stock Transfer and Trust Company, CCP and the Separate Account entered into an Agreement to Assign Founder Shares (the Founder Share Assignment
Agreement), pursuant to which the Sponsor agreed to assign to CCP and the Separate Account an aggregate of 1,293,750 outstanding shares of Class A Stock initially purchased by the Sponsor in a private placement prior to Issuers
initial public offering (the Founder Shares), 646,874 of which (the Contingent Shares) will be subject to certain vesting conditions described below.

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In accordance with the Subscription Agreement, all of the Founder Shares are subject to the terms of the
Insider Letter, and the Contingent Shares are additionally subject to the terms of a Sponsor Share Agreement, by and among the Issuer, the Sponsor and Innohold (the Sponsor Share Agreement). The Insider Letter prohibits any
transfer of the Founder Shares until the earliest of (i) one year after the completion of the Business Combination, (ii) if, subsequent to the Business Combination, the last sale price of the Class A Stock equals or exceeds $12.00 per
share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Business
Combination or (iii) if, subsequent to the Business Combination, the date following the completion of the Business Combination on which the Issuer completes a liquidation, merger, stock exchange or other similar transaction that results in all
of the Issuers stockholders having the right to exchange their shares of equity holdings in the Issuer for cash, securities or other property.

In
addition to the terms of the Insider Letter, the Contingent Shares are subject to the terms of the Sponsor Share Agreement. Pursuant to the Sponsor Share Agreement, the Contingent Shares cannot be sold, transferred, or otherwise disposed of, or
hypothecated or otherwise granted any interest in or to, unless and until one of the following triggering events (each, a Triggering Event) has occurred: (i) the closing price of the Class A Stock on the principal
exchange on which it is listed is at or above $12.50 for 20 trading days over a thirty trading day period (subject to certain adjustments), (ii) a change of control of the Issuer, (iii) a going private transaction by the Issuer
pursuant to Rule 13e-3 under the Exchange Act of 1934, as amended (the Exchange Act), or such other time as the Issuer ceases to be subject to the reporting obligations under Section 13
or 15(d) of the Exchange Act, or (iv) the time that the Class A Stock ceases to be listed on a national securities exchange. In the event that a Triggering Event has not occurred on or prior to the date which is eight (8) years
following the Closing, the Contingent Shares will be forfeited. The Contingent Shares will no longer be subject to forfeiture upon the occurrence of a Triggering Event.

On February 2, 2018, in connection with the Closing of the Business Combination, the Sponsor and CCP and the Separate Account completed the assignment of
the Founder Shares in accordance with the terms of the Founder Share Assignment Agreement.

The foregoing summary of the Subscription Agreement, the
Insider Letter, the Founder Share Assignment Agreement and the Sponsor Share Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Subscription Agreement, the Insider Letter, the Founder
Share Assignment Agreement and a form of the Sponsor Share Agreement, respectively, which are filed as Exhibits 4, 6, 9 and 10 to this Schedule 13D and are incorporated by reference herein.

Registration Rights Agreement

On February 2,
2018, the Issuer entered into a Registration Rights Agreement (the Registration Rights Agreement) with CCP, the Separate Account and COC, providing for the registration under the Securities Act of 1933, as amended, of (i) the
shares issued in the Private Placement, (ii) the Warrants and the shares issuable upon the exercise of the Warrants and (iii) the Founder Shares, subject to customary terms and conditions.

The foregoing summary of the Registration Rights Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text
of the Registration Rights Agreement, which is filed as Exhibit 11 to this Schedule 13D and is incorporated by reference herein.

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General

The Reporting Persons acquired the Class A Stock and Warrants for investment purposes, and such purposes were made in the Reporting Persons ordinary
course of business. In pursuing such investment purposes, the Reporting Persons may further purchase, hold, vote, trade, dispose or otherwise deal in the Class A Stock and Warrants at times, and in such manner (including pursuant to hedging
transactions), as they deem advisable to benefit from changes in market prices of the Class A Stock, changes in the Issuers operations, business strategy or prospects, or from a sale or merger of the Issuer. To evaluate such alternatives,
the Reporting Persons routinely will monitor the Issuers operations, prospects, business development, management, competitive and strategic matters, capital structure, and prevailing market conditions, as well as alternative investment
opportunities, liquidity requirements of the Reporting Persons and other investment considerations. Consistent with their investment research methods and evaluation criteria, the Reporting Persons may discuss such matters with management or
directors of the Issuer, other shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors. Such factors and discussions may materially
affect, and result in, the Reporting Persons modifying their ownership of the Class A Stock and Warrants, exchanging information with the Issuer pursuant to appropriate confidentiality or similar agreements, proposing changes in the
Issuers operations, governance or capitalization, or in proposing one or more of the other actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons reserve the right to formulate other plans and/or
make other proposals, and take such actions with respect to their investment in the Issuer, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional shares of Class A
Stock and Warrants or dispose of all shares of Class A Stock and Warrants beneficially owned by them, in public market or privately negotiated transactions. The Reporting Persons may at any time reconsider and change their plans or proposals
relating to the foregoing.

Item 5. Interest in Securities of the Issuer.

The information in Items 4 and 6 hereof is incorporated by reference herein.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

CCM is an investment adviser whose clients, including CCP, COC and the Separate Account, have the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the Class A Stock. CC is the general partner of CCP and COC. Gray and Shackelton are the managers of CC and CCM.

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The Reporting Persons are parties to an agreement with respect to the joint filing of this Schedule 13D and
any amendments hereto. A copy of such agreement is attached as Exhibit 1 to this Schedule 13D and is incorporated by reference herein.

The information in
Item 4 is incorporated by reference herein.

Item 7. Material to Be Filed as Exhibits.

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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: February 12, 2018