SNBR stock enters Chapter 11 process after USD 154 million order

Published on 10/04/2026 at 09:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SNBR stock last traded at USD 0.12 on June 22, 2026, up 257.14 percent from USD 0.04. Sleep Number filed Chapter 11 on June 12.

SNBR, US83125X1037, Illustration mit AI erstellt.

Sleep Number stock (ISIN US83125X1037) was last at USD 0.12 on Nasdaq on June 22, 2026, up 257.14 percent from the prior session close of USD 0.04. The company is navigating a Chapter 11 restructuring linked to a planned sale of its operating business.

Chapter 11 sets the agenda

Sleep Number filed for Chapter 11 protection on June 12, 2026, according to Cleveland.com. The filing was designed to support a court-supervised sale under an asset purchase agreement with Sleep Country Canada, while day-to-day operations, deliveries and warranty service continued.

The restructuring is material for equity holders because Sleep Number entered the process with a sale framework rather than a conventional growth investment plan. The court case therefore provides the central context for interpreting the unusually large percentage change between USD 0.04 and USD 0.12.

Debt payment receives approval

On September 17, 2026, a New York bankruptcy judge authorized a USD 154 million paydown of prepetition debt under a Chapter 11 plan support agreement, Law360 reported. The same report identified Sleep Number as a personalized mattress retailer and described the agreement as involving unsecured creditors and secured lenders.

A separate restructuring update from Pachulski Stang Ziehl and Jones said in September 2026 that a court-approved sale transaction had increased total adjusted cash consideration from USD 415 million to more than USD 700 million, including assumed liabilities. That comparison points to a transaction process with a materially larger outcome than the opening bid.

SNBR valuation stays compressed

Sleep Number had a market capitalization of USD 2.9 million on June 22, 2026. Its 52-week range was USD 0.03 to USD 13.94, while volume reached 36,488,227 shares on the same date. The spread between the last price and the yearly high places the stock in a highly distressed market setting.

The company designs, manufactures, markets and services smart beds, adjustable bases, pillows, sheets and other bedding products in the United States. Its direct-to-consumer model uses stores, online sales, phone and chat channels, making the court-supervised sale relevant to both the ownership structure and the operating business.

Stock trades amid restructuring

SNBR was last at USD 0.12 on Nasdaq on June 22, 2026, at 4:00 p.m. ET. For investors, the key reference points are the USD 154 million debt paydown, the planned sale process and the USD 2.9 million market capitalization.