secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2026-06-16T21:30:12+00:00
Accession:  0000950103-26-009081
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000095010326009081/0000950103-26-009081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000095010326009081/dp248436_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-009081

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