Todd Vogensen: Sure. So yes, immediately after we did the transaction, which was late January, overall, cash and cash equivalents was $48 million. So if you put that in context of the guide of the full quarter being down $10 million to $15 million in EBITDA and being positive EBITDA by the back half, we certainly believe we have more than adequate liquidity at this point. The extra $22 million we got from the refinancing was very positive for us. And it comes with a new facility that doesn’t have all of the restrictions and requirements and everything that would typically come with an ABL. So we’re in a much better position without any significant financial maintenance covenants or anything like that. And then, in terms of the interest, yes. So you’re right, we do have the ability to pick all of our interest. I think it’s fair to say in the near term, that is probably the conservative option, and we would choose to take that option for the foreseeable future anyway.
Matthew Koranda: Got it. All right. Very helpful. I’ll take the rest of mine offline guys. Thank you.
Todd Vogensen: All right. Thank you.
Operator: The final question comes from Michael Lasser with UBS. Please go ahead.
Daniel Silverstein: Hey, this is Dan Silverstein on for Michael. Just two quick questions, maybe more on the overall industry or competitive landscape. How much of a unit or sales benefit do you think Purple could see from the third round of anti-dumping duties being placed on 12 additional countries? And then secondly, thank you for the update on the Tempur/Mattress Firm agreement. Ashley Home acquired Resident Home recently, another example of M&A in the industry. Will this have an impact on the competitive landscape for Purple going forward? Thank you.
Robert DeMartini: Dan, just to make sure I understand, I will take your question back. Will the Ashley/Resident tie-up impact the category? Is that the question?
Daniel Silverstein: Yes. Just wondering what you think it means for the competitive landscape, another second case of another vertical integration in the space.
Robert DeMartini: Yes. I mean, I don’t want to speak for Ashley or Todd Wanek, but it seems to me that he’s got a relatively new factory they were looking to fill. Resident is, I think, more marketer than maker, and I don’t mean that to imply anything other than they’re a very good marketing company. And I think that marriage makes sense to me. I think it also fits the Ashley consumer quite well. I can tell you that our business with that retailer is growing nicely. And so I don’t see it as changing the landscape that much. They tend to trade a little bit below us in retail price. We overlap on the bottom side of the category, not the top side. And the path to premium sleep is about becoming a premium challenger brand. So it’s too early for me to say the impact, but I don’t see anything that immediately jumps off as negative.
Daniel Silverstein: Great. Thanks. And then just the first part was on the antidumping.
Robert DeMartini: Yes. I mean, I think it’s good for the category. It’s good for the domestic industry. It doesn’t impact us negatively. We don’t import any mattresses. We do import some components in some categories, but we either make all of ours in-house or with partners here. So I think that — I think it should be good for the category in the short run. I don’t know the percentage of product that comes from those 12 countries. So how sweeping it is, I’m not sure, but it should help protect what is fundamentally a domestically made category.
Daniel Silverstein: Thank you.
Robert DeMartini: Thanks, Dan.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Rob DeMartini for any closing remarks.
Robert DeMartini: Yes, I’ll keep it short. As we’ve said, as Todd and I have laid out here, we think the path to premium sleep is a winning strategy, number one. We acknowledge it took us longer than I would have liked to get it started and that created some pretty negative results in ’23, but we’ve got the team assembled to make sure we execute this. And I want to thank our associates, our customers and the consumers that are getting great night’s sleep on Purple beds. So thank you.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
