Sleep Number completes asset sale for $529.5M; no proceeds for stockholders

Sleep Number Corp

Closed sale of substantially all assets to SNBR, Inc., a Sleep Country Canada subsidiary, on July 31, 2026.
Cash proceeds of $529.5M; $267.4M used to repay DIP term loans and roll-up loans.
$10.0M deposited into escrow for post-closing adjustments.
No proceeds expected for stockholders; common stock to be cancelled upon plan effectiveness.
Company filed Chapter 11 on June 12, 2026; sale approved by Bankruptcy Court on July 21, 2026.

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