Sleep Number Secures $260M DIP Financing

Sleep Number Corporation and its subsidiaries have entered into a Fourteenth Amendment to their credit agreement, securing up to $260 million in debtor-in-possession financing. This facility includes $65 million in new term loans and $195 million in roll-up loans, with a maturity date of September 16, 2026. The Bankruptcy Court has approved the transaction on an interim basis, with a final hearing scheduled for July 9, 2026. The financing carries an interest rate of SOFR plus 8.00% or base rate plus 7.00%.