Sleep Number draws $262 million under revolving credit facility

By Sara Rosenberg

New York, March 23 – Sleep Number Corp. borrowed $262 million under its $450 million revolving credit facility, which is now fully drawn, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The draw was made to provide increased liquidity and preserve financial flexibility in consideration of the disruption and uncertainty resulting from the Covid-19 pandemic.

Proceeds may be used in the future for working capital and other general corporate purposes.

Sleep Number is a Minneapolis-based manufacturer of beds and bedding accessories.

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