secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2026-08-03T12:48:32+00:00
Accession:  0000950103-26-011603
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000095010326011603/0000950103-26-011603-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000095010326011603/dp251018_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-011603

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