Why Purple Innovation Shares Are Skyrocketing 50% Higher Monday

Purple Innovation Inc PRPL shares are trading higher by 49.5% to $4.17 during Monday's pre-market session after the company confirmed that it received an unsolicited, non-binding proposal from Coliseum Capital Management to acquire all of the outstanding capital stock of Purple for $4.35 per share.

The company says the Purple Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of Purple and all Purple shareholders.

See Also: If You Invested $100 In Bitcoin, Ethereum Classic, Apple, Microsoft, Tesla And AMC In March 2020, Here's How Much You'd Have Now

According to data from Benzinga Pro, Purple Innovation has a 52-week high of $23.13 and a 52-week low of $2.65.