# Sleep Number Corp (SNBR) — bankruptcy/chapter_11 [announced]
Source: SEC API (secapi.ai) · situation sit_3e1b42092ab7e027c5e3 · retrieved 2026-08-11T16:15:10.618Z

## Overview
Sleep Number Corporation develops, sells, delivers and services personalized sleep wellness solutions, including smart beds and mattresses, adjustable bed frames, pillows, bedding and accessories, and digital solutions for sleep tracking and smart bed control.

Sleep Number Corporation, a Minnesota-based household furniture manufacturer specializing in smart beds and sleep wellness solutions, entered into an Amended and Restated Asset Purchase Agreement on July 18, 2026, with SNBR Inc. (a wholly-owned subsidiary of Sleep Country Canada Inc.) following a Bankruptcy Court-supervised auction. The base purchase price increased from the initial stalking horse bid of $415 million to $529.5 million in cash, with the purchaser assuming certain liabilities and subject to purchase price adjustments. The adjustment escrow amount was reduced from $25 million to $10 million. The transaction is subject to Bankruptcy Court approval and customary closing conditions, including Hart-Scott-Rodino antitrust clearance and the absence of material adverse effects.

## Terms
- Counterparty: SNBR Inc. (subsidiary of Sleep Country Canada Inc.) · Deal value: $529.5M · Consideration: cash

## Key dates
- Announced 2026-07-23

## Timeline
- 2026-07-23 · 8-K (0000950103-26-011104): 8-K - Sleep Number Corp — *Sleep Number Corporation develops, sells, delivers and services personalized sleep wellness solutions, including smart beds and mattresses, adjustable bed frames, pillows, bedding and accessories, and digital solutions for sleep tracking and smart bed control.* Sleep Number Corporation, a Minnesota-based household furniture manufacturer specializing in smart beds and sleep wellness solutions, entered into an Amended and Restated Asset Purchase Agreement on July 18, 2026, with SNBR Inc. (a wholly-owned subsidiary of Sleep Country Canada Inc.) following a Bankruptcy Court-supervised auction. The base purchase price increased from the initial stalking horse bid of $415 million to $529.5 million in cash, with the purchaser assuming certain liabilities and subject to purchase price adjustments. The adjustment escrow amount was reduced from $25 million to $10 million. The transaction is subject to Bankruptcy Court approval and customary closing conditions, including Hart-Scott-Rodino antitrust clearance and the absence of material adverse effects.
  https://www.sec.gov/Archives/edgar/data/827187/0000950103-26-011104.txt

## Citations
- 0000950103-26-011104 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000095010326011104