Sleep Number enters DIP financing up to $260M in Chapter 11; maturity Sept 16, 2026

Sleep Number Corp

$65M new money term loans plus $195M roll-up of prepetition debt.
Interim DIP order entered June 15; final hearing scheduled July 9, 2026.
Interest at SOFR+8% or base rate+7% per annum.
Case milestones include sale of substantially all assets.
Common shares likely cancelled in Chapter 11 restructuring.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sleep Number Corp amended Fourteenth Amendment to Amended and Restated Credit and Security Agreement with the prepetition lenders under the Prepetition Credit Agreement (collectively, the "DIP Lenders") valued at up to $260 million (effective 2026-06-16).

Action: amendment
Agreement: credit facility
Counterparty: the prepetition lenders under the Prepetition Credit Agreement (collectively, the "DIP Lenders")
Value: up to $260 million
Effective: 2026-06-16

Exact text from the filing

On June 16, 2026, Sleep Number Corporation (“Sleep Number” or the “Company”) and its subsidiaries (together with Sleep Number, the “Debtors”) entered into the Fourteenth Amendment (the “DIP Amendment”) to Amended and Restated Credit and Security Agreement (the “Prepetition Credit Agreement”, and as amended by the DIP Amendment, the “DIP Credit Agreement”).

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Sleep Number Corp filing history →

Source: SEC EDGAR

accession 0000950103-26-009081

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