Sleep Number Corp (SNBR) Form 8-K — Jun 12, 2026
$SNBRForm 8-KItems 1.01, 1.03, 2.04, 7.01, 9.01Filed Jun 12, 2026, 10:26 AM ET0000950103-26-008891Original filing
Sleep Number Corporation filed voluntary Chapter 11 bankruptcy petitions on June 12, 2026, in the Southern District of New York. The filing triggered an event of default under its prepetition credit agreement, accelerating approximately $672.5 million in debt obligations, though enforcement is stayed under the automatic stay. The company simultaneously entered into a stalking horse asset purchase agreement with SNBR, Inc., a subsidiary of Sleep Country Canada Inc., to sell substantially all of its assets for $415 million in cash.
Key figures
- Debt Amount
- 672500000
- Deal Value Usd
- 415000000
- Dip Maturity
- 3 months from DIP Amendment
- Inventory Cap
- 105459944
- Dip Roll Up Loans
- 195000000
- Good Faith Deposit
- 41500000
- Dip Financing Total
- 260000000
- Dip New Money Term Loan
- 65000000
- Dip Interest Rate Spread
- SOFR + 8.00% or Base Rate + 7.00%
- Inventory Accounts Payable Cap
- 10278441
AI analysis
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