Purple Innovation receives conditional reprieve from Nasdaq on minimum bid-price rule
Purple Innovation received a written decision from the Nasdaq Hearings Panel on July 20, 2026, granting continued listing on Nasdaq conditional on the company demonstrating compliance with the minimum bid-price rule (Listing Rule 5450(a)(1)) by evidencing a closing bid price of at least $1.00 per share for a minimum of ten consecutive trading days on or before July 31, 2026. The company had been notified on November 5, 2025, that its stock had closed below $1 per share over 30 consecutive business days. In response, the company executed a 1-for-25 reverse stock split, which became effective July 20, 2026, and the stock opened at $7.12 per share on a split-adjusted basis.
- Nasdaq Hearings Panel decision received July 20, 2026, granting continued listing conditional on compliance by July 31, 2026
- Company must evidence closing bid price of at least $1.00 per share for minimum of ten consecutive trading days
- Reverse stock split at 1-for-25 ratio became effective prior to opening of trading on July 20, 2026
- Common stock opened trading on split-adjusted basis on July 20, 2026 at $7.12 per share
- Minimum bid-price violation originally notified November 5, 2025
- Panel reserves right to reconsider terms of exception based on any event, condition, or circumstance that develops
Purple Innovation has a narrowly defined cure period of ten business days to restore compliance with Nasdaq's minimum bid-price rule; failure to do so would trigger delisting proceedings, though the company retains a right to request review by the Nasdaq Listing and Hearing Review Council.
Derived from 8-K filed 2026-07-22. Not investment advice. Figures are extracted from the filing; prose is AI-assisted. View the source filing on SEC.gov →