Company to Welcome New Directors to Board Adam Gray to Serve as Board Chair Gary DiCamillo to Continue to Serve as Lead Independent Director Company Will Redeem Cumulative Voting Proportional Representation Preferred Linked Stock Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that it has entered into a binding Memorandum of Understanding to establish a cooperative governance framework (the "Planned Cooperation Agreement") with Coliseum Capital Management, LLC (together with its managed funds and accounts, "Coliseum"), the largest stockholder of the Company o
Will Support Re-Election of CEO Rob DeMartini to Board No Longer Pursuing September 2022 Take Private Proposal Shareholders Deserve Nimbler, More Engaged Board with Heightened Sense of Urgency and Bias for Action to Help Management Navigate Challenges Ahead Coliseum Capital Partners, L.P. ("Coliseum"), the largest stockholder of Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), announced today that it has nominated five candidates for election to Purple's seven member Board of Directors at the company's 2023 Annual Meeting of Stockholders, including Adam Gray, a current Purple director and Managing Partner and Co-Founder of Coliseum Capital Management, LLC. Coliseum also announced that
NEWTON, Mass., March 17, 2021 /PRNewswire/ -- Sonesta International Hotels Corporation (Sonesta) today announced the completion of its previously announced acquisition of RLH Corporation (NYSE: RLH). As a result, Sonesta is now one of the largest hotel companies globally with approximately 1,200 locations, more than 100,000 guest rooms, and a diversified portfolio of 15 brands across multiple market segments. Sonesta also announced that 35-year hotel industry veteran Keith Pierce is joining Sonesta as Executive Vice President, President of Franchise & Development effective March 18, 2021. John J. Russell, Jr., Chief Executive Officer of RLH, will continue to support Sonesta leadership thro
NEWTON, Mass., Dec. 30, 2020 /PRNewswire/ -- Sonesta International Hotels Corporation (Sonesta) today announced that it has entered into a definitive agreement to acquire RLH Corporation (NYSE: RLH). RLH is the 10th-largest U.S.-based hotel franchise company with more than 900 hotels. After the closing of the transaction, Sonesta will become one of the largest hotel companies in the U.S. with approximately 1,200 hotels in diversified brands across multiple market segments. Sonesta also announced that upon closing of this transaction, 35-year hotel industry veteran Keith Pierce will be joining Sonesta as Executive Vice President, President of Franchise & Development. Carlos Flores, Preside
DENVER, Dec. 30, 2020 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE: RLH) (“RLH” or “Red Lion”), the 10th-largest US-based hotel franchise company serving a large segment of American consumers, today announced that it has entered into a definitive merger agreement (“Merger Agreement” or “agreement”) with Sonesta International Hotels Corporation (“Sonesta”) under which RLH will be acquired by Sonesta in an all-cash transaction valued at approximately $90 million. The agreement has been unanimously approved by the RLH Board of Directors. Under the terms of the Merger Agreement, holders of RLH’s common stock will receive $3.50 per share in cash. This represents an 88% premium over the Nove
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DENVER, Dec. 30, 2020 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE: RLH) (“RLH” or “Red Lion”), the 10th-largest US-based hotel franchise company serving a large segment of American consumers, today announced that it has entered into a definitive merger agreement (“Merger Agreement” or “agreement”) with Sonesta International Hotels Corporation (“Sonesta”) under which RLH will be acquired by Sonesta in an all-cash transaction valued at approximately $90 million. The agreement has been unanimously approved by the RLH Board of Directors. Under the terms of the Merger Agreement, holders of RLH’s common stock will receive $3.50 per share in cash. This represents an 88% premium over the Nove
Company to Welcome New Directors to Board Adam Gray to Serve as Board Chair Gary DiCamillo to Continue to Serve as Lead Independent Director Company Will Redeem Cumulative Voting Proportional Representation Preferred Linked Stock Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that it has entered into a binding Memorandum of Understanding to establish a cooperative governance framework (the "Planned Cooperation Agreement") with Coliseum Capital Management, LLC (together with its managed funds and accounts, "Coliseum"), the largest stockholder of the Company o
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