Filing Details

105 Rowayton Avenue, Rowayton, CT 06853

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

During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

During the last five years, none of the Reporting Persons was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

The citizenship or place of organization for each of the Reporting Persons is listed in Row 6 of the cover pages hereto.

Item 3 is hereby amended and supplemented as follows: The source and amount of funds used in acquiring the Incremental Warrants (as defined below) by the Reporting Persons and a separate account investment advisory client of CCM (the "Separate Account") were as follows: Purchaser Source of Funds Amount CCP Working Capital $ N/A (1) Separate Account Working Capital $ N/A (2) (1) Pursuant to the terms of the Credit Agreement Amendment (as defined below), under which CCP agreed to make a loan of $15,573,770.50 to Purple LLC, CCP received Incremental Warrants to acquire 5,106,154 shares of Class A Stock. (2) Pursuant to the terms of the Credit Agreement Amendment, under which the Separate Account agreed to make a loan of $3,426,229.50 to Purple LLC, the Separate Account received Incremental Warrants to acquire 1,123,354 shares of Class A Stock.

Item 4 is hereby amended and supplemented as follows: 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 Issuer's operations, business strategy or prospects, or from a sale or merger of the Issuer, and evaluate plans and proposals for potential extraordinary transactions involving the Issuer, such as potential business combinations, asset sales and financing transactions. To evaluate such alternatives, the Reporting Persons routinely will monitor the Issuer's 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 have engaged and intend to continue engaging in discussions regarding such matters with management or directors of the Issuer, other shareholders, industry analysts, existing or potential strategic partners or competitors, legal, investment and financing professionals (including advisers engaged by the Reporting Persons), 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 (or the Issuer's advisers) pursuant to appropriate confidentiality or similar agreements, proposing changes in the Issuer's 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. Amended and Restated Credit Agreement and Incremental Warrants On March 12, 2025, the Issuer and certain of its subsidiaries (collectively, the "Loan Parties") entered into an amendment (the "Credit Agreement Amendment") to the Amended and Restated Credit Agreement, dated as of January 23, 2024 (the "Amended and Restated Credit Agreement") with the 2025 Term Loan Lenders (as defined in the Credit Agreement Amendment) which amends the Amended and Restated Credit Agreement. The Credit Agreement Amendment, among other things, provides for an increase in the principal amount of the senior secured term loan facility by $19.0 million (the "Incremental Loan") from an initial aggregate principal amount of up to $61.0 million (the "Initial Loan") to an initial aggregate principal amount of up to $80.0 million (the "Loan"), and allows the Loan Parties to request one or more additional term loans in an initial aggregate principal amount not to exceed $20.0 million on terms to be agreed to by the parties and subject to the approval of the Required Lenders (as defined in the Amended and Restated Credit Agreement). The Incremental Loan will bear interest at the same rate as the Initial Loan, which may be paid in cash or in kind at the Company's option. In addition, the Company also paid fess of (i) 2% of the outstanding principal and accrued and unpaid interest under the Initial Loan and held by the 2025 Term Loan Lenders, paid in kind, and (ii) 2% of the initial aggregate principal amount of the Incremental Loan, paid in cash to the 2025 Term Loan Lenders deducted from the proceeds at closing. In connection with the Credit Agreement Amendment, the Company issued to the 2025 Term Loan Lenders warrants (the "Incremental Warrants", and together with the warrants issued pursuant to the Amended and Restated Credit Agreement, the "Warrants") to purchase 6,229,508 shares of the Company's Class A Stock at a price of $1.50 per share, subject to certain adjustments, of which Incremental Warrants to acquire 5,106,154 shares of Class A Stock were issued to CCP and Incremental Warrants to acquire 1,123,354 shares of Class A Stock were issued to the Separate Account. An Incremental Warrant may be exercised for cash or on a cashless basis, pursuant to the terms of the Incremental Warrant, subject to a contractual limitation that a holder of the Incremental Warrants will not have the right to exercise its Incremental Warrants, to the extent that after giving effect to such exercise, the holder (together with its affiliates) would beneficially own in excess of 49.9% of the shares of Class A Stock outstanding immediately after giving effect to such exercise (the "Beneficial Ownership Cap"). The Incremental Warrants will expire on the ten-year anniversary of issuance, at 5:00 p.m., New York time, or earlier upon redemption. After giving effect to the closing of the transactions contemplated by the Credit Agreement Amendment, CCM and its affiliates own 46,855,291 shares of Class A Stock and Warrants to acquire an aggregate of 19,672,131 shares of Class A Stock, subject to the Beneficial Ownership Cap, which reduces the aggregate number of shares of Class A Stock currently issuable upon exercise of the Warrants held by CCP and the Separate Account to 13,600,617. The foregoing summary of the Credit Agreement Amendment and the Incremental Warrants does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Credit Agreement Amendment and the form of Incremental Warrant, respectively, which are filed as Exhibits 99.1 and 99.2, respectively, to this Amendment and are incorporated by reference herein. Registration Rights Agreement In connection with the Credit Agreement Amendment, on March 12, 2025, the Issuer entered into a Second Amended and Restated Registration Rights Agreement (the "Registration Rights Agreement") with CCP, the Separate Account and CCC III (collectively, the "Holders") which amended and restated the prior Registration Rights Agreement, dated as of January 23, 2024, and provided for the registration under the Securities Act of 1933, as amended (the "Securities Act"), of the Warrants, the shares of Class A Stock issuable upon the exercise of the Warrants and the shares of Class A Stock held by the Holders as of such date (the "Registrable Securities"), subject to customary terms and conditions. The Registration Rights Agreement entitles the Holders to demand registration of the Registrable Securities and also to piggyback on the registration of Issuer securities by the Issuer and other Issuer securityholders. The Issuer will be responsible for the payment of the Holders' expenses in connection with any offering or sale of Registrable Securities by the Holders, including underwriting discounts or selling commissions, placement agent or broker fees or similar discounts, commissions or fees relating to the sale of certain Registrable Securities. The Registration Rights Agreement provides that, on or prior to April 11, 2025, or May 26, 2025 if Form S-3 is not then available to the Issuer, the Issuer will be required to prepare and file with the SEC pursuant to Rule 415 of the Securities Act a registration statement to register the resale of the Registrable Securities. 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 99.3 to this Amendment and is incorporated by reference herein.

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 107,545,493 shares of Class A Stock outstanding as of March 7, 2025, and the number of shares of Class A Stock currently issuable upon exercise of the Warrants, subject to the Beneficial Ownership Cap, with respect to each Reporting Person as set forth in the footnote to the applicable cover page. The percentages set forth in Row 13 for all cover pages filed herewith do not reflect the conversion to Class A Stock of any of the 164,982 shares of the Issuer's Class B common stock, par value $0.0001 per share, outstanding as of March 7, 2025, none of which are held by any of the Reporting Persons.

The information relating to the beneficial ownership of Class A Stock by each of the Reporting Persons set forth in Rows 7 through 10 of the cover pages hereto is incorporated by reference herein.

Item 6 is hereby amended and supplemented to incorporate by reference the information set forth in Item 4 above.

Item 7 is hereby supplemented as follows: Exhibit No. Description 99.1 Amendment to Amended and Restated Credit Agreement, dated March 12, 2025, by and among the Issuer, Purple LLC, Intellibed, LLC, CCP, the Separate Account and CSC Delaware Trust Company, as Administrative Agent (incorporated by reference to Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed with the SEC on March 12, 2025) 99.2 Form of Warrant (incorporated by reference to Exhibit 10.2 to the Issuer's Current Report on Form 8-K filed with the SEC on March 12, 2025) 99.3 Second Amended and Restated Registration Rights Agreement, dated March 12, 2025, by and among the Issuer, CCP, the Separate Account, and CCC III (incorporated by reference to Exhibit 10.3 to the Issuer's Current Report on Form 8-K filed with the SEC on March 12, 2025)