---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-26-008891"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2026-06-12T14:26:50+00:00"
generated_at: "2026-06-12T14:28:22.845630+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Sleep Number files Chapter 11; agrees to $415M sale to Sleep Country Canada subsidiary

## Summary
- Filed Chapter 11 on June 12, 2026; Stalking Horse Purchase Agreement with SNBR, Inc. (Sleep Country Canada) for $415M cash.
- Debtor-in-possession financing expected up to $260M, including $65M new money and $195M roll-up of prepetition debt.
- Prepetition debt of ~$672.5M in default and accelerated, subject to automatic stay.
- Common shares significantly out of the money, expected to have no recovery; Nasdaq delisting anticipated.
- Operations continue during court-supervised sale process; stores open, orders accepted, warranties honored.

## SEC filing metadata
- accession: 0000950103-26-008891
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2026-06-12T14:26:50+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 1.03, 2.04, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827187/000095010326008891/0000950103-26-008891-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000095010326008891/dp248362_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-26-008891
- JSON: https://secwatch.observer/filing/0000950103-26-008891.json
- Plain text: https://secwatch.observer/filing/0000950103-26-008891.txt

## Key facts
- Debt Financings
  Sleep Number Corp faced acceleration on credit facility of approximately $672.5 million in the aggregate principal amount with U.S. Bank National Association as Administrative Agent.
  - Instrument: credit facility
  - Principal: approximately $672.5 million in the aggregate principal amount
  - Counterparty: U.S. Bank National Association as Administrative Agent
  - Event: acceleration
  source text: in the acceleration of the Company’s payment obligations under those instruments. As such, substantially all of the Company’s debt, with balances of approximately $672.5 million in the aggregate principal amount as of the Petition Date, is in default and accelerated, but subject to the automatic stay under the Bankruptcy Code. The filing of the
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000095010326008891/0000950103-26-008891-index.htm
- Distress & Bankruptcy
  Sleep Number Corp entered chapter 11 in United States Bankruptcy Court for the Southern District of New York (petition 2026-06-12).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the Southern District of New York
  - Petition: 2026-06-12
  source text: On June 12, 2026 (the “Petition Date”), Sleep Number Corporation (“Sleep Number” or the “Company”) and its subsidiaries (together with Sleep Number, the “Debtors”) filed voluntary petitions for relief (collectively, the “Bankruptcy Petitions”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000095010326008891/0000950103-26-008891-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.