Sleep Number Stock Surges After $55 Million Lender Lifeline Buys Mattress Maker Time
Sleep Number shares rose $1.34 to $3.55 Tuesday after the company secured a lender deal adding $55 million in liquidity and easing some credit-agreement tests. The new $25 million term loan matures June 30 and carries interest at one-month SOFR plus 8%. Lenders agreed to forbear on certain defaults until July 1. Trading volume exceeded 38 million shares, with market value near $81.5 million.