Equity holders should expect zero recovery; the common stock will be cancelled and delisted. Monitor the Bankruptcy Court for the plan of liquidation and final distribution order. No further SEC filings will be made after this termination.
Price Chart
Executive Summary
Sleep Number Corp completed the sale of substantially all assets to a subsidiary of Sleep Country Canada Inc. for $529.5 million in cash on July 31, 2026, following its Chapter 11 filing on June 12, 2026. The proceeds were used to repay debtor-in-possession and roll-up loans ($267.4 million) and fund a $10 million escrow; no funds remain for common stockholders, and the stock will be cancelled upon plan effectiveness. Concurrently, the company filed Form 15-12G to terminate SEC registration, effective immediately, as it had only 267 holders of record.
Key Facts
- Asset sale closed on July 31, 2026, for $529.5 million in cash.
- Approximately $267.4 million of proceeds repaid debtor-in-possession and roll-up loans.
- $10.0 million deposited into escrow for post-closing adjustments.
- Company states no proceeds will be available for common stockholders.
- Outstanding common stock will be cancelled upon effectiveness of the liquidation plan.
- Form 15-12G filed to terminate SEC registration under Section 12(g) due to only 267 holders of record.
Financial Impact
Total asset sale proceeds of $529.5 million, entirely consumed by debt repayment and escrow; zero recovery for equity holders.
Risk Factors
- Common stock will be cancelled with no distribution to holders.
- Potential for litigation or objections in the bankruptcy proceeding delaying final liquidation.
- Company will cease to exist as a public reporting entity.
Market Snapshot
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 15-12G Filing (SNBRQ) — Batch item 1 | 0000950103-26-011604 |
| Document: 0000950103-26-011604-index-headers.html | 0000950103-26-011603 |
| Document: 0000950103-26-011604-index.html | 0000950103-26-011604 |
| Document: 0000950103-26-011604.txt | 0000950103-26-011604 |
| 8-K Filing (SNBRQ) — Batch item 5 | 0000950103-26-011603 |
| Document: 0000950103-26-011603-index-headers.html | 0000950103-26-011604 |
| Document: 0000950103-26-011603-index.html | 0000950103-26-011604 |
| Document: 0000950103-26-011603.txt | 0000950103-26-011604 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 7, 2026 11w ago | Court Ruling | $0.0200 $0.0200 | · 0.00% | ▲ +0.91% | $0.010000 (−50.00%) |
Aug 3, 2026 12w ago | 15-12G / 8-K | $0.0200 $0.0206 | ▼ −3.00% | ▼ −1.76% | $0.010000 (+50.00%) |
Jul 28, 2026 13w ago | Court Ruling | $0.0200 $0.0200 | · 0.00% | ▼ −5.02% | $0.010000 (−50.00%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers