Sleep Number entered into an Amended and Restated Asset Purchase Agreement with Sleep Country Canada to sell substantially all of its assets for $529.5 million in cash, following a court-supervised auction. The revised deal increases the price from $415 million, reduces the adjustment escrow to $10 million, and removes several potential purchase price deductions and pre-closing covenants. A new closing condition requires funding a $5,193,168 Stub Rent Reserve. Closing remains subject to Bankruptcy Court approval, antitrust clearance, and other customary conditions.
Agreement details:
- Agreement type: Amended and Rested Asset Purchase Agreement for substantially all assets
- Counterparty: Sleep Country Canada
- Signed / Effective: Jul 18 2026 / same
- Duration / Termination: At will
- Reason: Maximize value through bankruptcy asset sale
Original SEC Filing:
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