secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2026-07-23T21:20:56+00:00
Accession:  0000950103-26-011104
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sleep Number raises asset sale price to $529.5M in amended stalking horse deal
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000095010326011104/0000950103-26-011104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000095010326011104/dp250511_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-011104

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