On June 16, 2026, Sleep Number Corporation and its subsidiaries entered into a DIP Amendment to secure up to $260 million in debtor-in-possession financing. This includes $65 million in new money superpriority senior secured term loans and $195 million in roll-up loans. The financing carries an interest rate of SOFR plus 8.00% or the base rate plus 7.00%, with a maturity date of September 16, 2026. The Bankruptcy Court for the Southern District of New York entered an interim order approving the transaction on June 15, 2026, with a final hearing scheduled for July 9, 2026. The company is operating under Chapter 11 bankruptcy and is exploring a sale of substantially all its assets. Sleep Number operates in the bedding industry and sells smart beds and sleep products.
