SNBR Form 8-K Summary (Nov 4, 2025)

Sleep Number (SNBR) finalized the Twelfth Amendment to its Credit Agreement, effectively managing its debt structure.

• Maturity extended to Dec 3, 2027.
• Revolving credit facility reduced from \(485M to **\)475M**, scheduled to decrease further to $465M on July 31, 2026.
• Covenant Adjustments: Leverage ratios are adjusted through 2026, with the Liquidity covenant minimum increasing to $40M later in the period. A new minimum EBITDA covenant begins in Q2 2026.
• Amortization payments increase starting Q1 2027. The company confirms