M&A
confidence high
sentiment positive
materiality 0.85
Sleep Number raises asset sale price to $529.5M in amended stalking horse deal
Sleep Number Corp
- Base purchase price increased from $415M to $529.5M cash, subject to adjustments.
- Adjustment escrow reduced from $25M to $10M; certain price deductions eliminated.
- New closing condition: Seller must fund $5.19M 'Stub Rent Reserve' for unpaid lease obligations.
- Transaction part of Chapter 11 bankruptcy; requires Bankruptcy Court approval and antitrust clearance.
- Amended agreement follows July 18, 2026 auction; eliminates minimum marketing spend covenant.