10-K Filing

Purple Innovation, Inc. CIK: 1643953 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001213900-16-011527`
Period End Date	20151231
Filing Date	20160311
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	gpac-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 28 Income Statement 7 Cash Flow Statement 20 Stockholders Equity 15

Balance Sheet 28 line items

Line Item	Tag	Value	Unit	Period
Common stock, possible redemption, shares	`CommonStockPossibleRedemption`	14.66M	shares	Point-in-time
Common stock, possible redemption, per share	`CommonStockPossibleRedemptionPerShare`	$10.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$131.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.18M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$155.29M	USD	Point-in-time
Total assets	`Assets`	$156.47M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.74M	shares	Point-in-time
Current liabilities - Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$199.00K	USD	Point-in-time
Common stock excluding possible redemption, shares	`CommonStockExcludingPossibleRedemptionShare`	14.66M	shares	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$4.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.86M	USD	Point-in-time
Common stock subject to possible redemption; 14,661,512 shares (at redemption value of approximately $10.00 per share)	`PossibleRedemption`	$146.62M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value, 35,000,000 authorized shares, 4,744,738 shares issued and outstanding(excluding 14,661,512 shares subject to possible redemption)	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$5.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-303.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$156.47M	USD	Point-in-time

Income Statement 7 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$346.00K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-346.00K	USD	2 Qtrs
Other income - interest on Trust Account	`InterestAndOtherIncome`	$43.00K	USD	2 Qtrs
Net loss attributable to common stock	`NetIncomeLoss`	$-303.00K	USD	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.45M	shares	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	2 Qtrs

Cash Flow Statement 20 line items

Line Item	Tag	Value	Unit	Period
Net loss attributable to common stock	`NetIncomeLoss`	$-303.00K	USD	2 Qtrs
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$131.00K	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$199.00K	USD	2 Qtrs
Trust income retained in Trust Account	`IncreaseDecreaseInTrustIncome`	$43.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-278.00K	USD	2 Qtrs
Cash flows from investing activities: Cash deposited in Trust Account	`PaymentsToTrustAccount`	$155.25M	USD	2 Qtrs
Proceeds from sale of common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	2 Qtrs
Proceeds from note payable and advances - related party	`ProceedsFromRelatedPartyDebt`	$225.00K	USD	2 Qtrs
Proceeds from sale of Public Offering Units	`ProceedsFromIssuanceInitialPublicOffering`	$155.25M	USD	2 Qtrs
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$6.41M	USD	2 Qtrs
Payment of underwriting discounts	`PaymentOfUnderwritingDiscounts`	$4.66M	USD	2 Qtrs
Payment of offering costs	`PaymentOfDeferredOfferingCosts`	$449.00K	USD	2 Qtrs
Payment of notes payable and advances - related party	`ProceedsFromNotesPayable`	$-225.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$156.58M	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.05M	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Deferred underwriters' commission	`DeferredUnderwritersCommission`	$4.66M	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Sale of common stock, price per share	`SaleOfStockPricePerShare`	$10.00	USD	Point-in-time
Sale of common stock, price per share	`SaleOfStockPricePerShare`	$0.01	USD	Point-in-time
Stock proceeds subject to possible redemption shares	`StockProceedsSubjectToPossibleRedemptionShares`	14.66M	shares	Point-in-time
Sale of private placement warrants	`WarrantIssued`	12.81M	shares	1 Quarter
Warrants, (price per share)	`ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1`	$0.50	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Sale of common stock to Sponsor at $0.006 per share	`StockIssuedDuringPeriodValueOther`	$25.00K	USD	2 Qtrs
Sale of Units to the public in August 2015 at $10.00 per unit	`StockIssuedDuringPeriodValueNewIssues`	$155.25M	USD	2 Qtrs
Underwriters' discount and offering expenses	`UnderwritersDiscountOfferingExpenses`	$-9.77M	USD	2 Qtrs
Sale of 12,815,000 Private Placement Warrants in August 2015 at $0.50 per warrant	`StockIssuedDuringPeriodValueNewIssuesOne`	$6.41M	USD	2 Qtrs
Proceeds subject to possible redemption of 14,661,512 shares at redemption value	`CommonStockProceedsSubjectToPossibleRedemptionValue`	$-146.62M	USD	2 Qtrs
Net loss attributable to common stock	`NetIncomeLoss`	$-303.00K	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.