Sleep Number reached an agreement with its lenders that provides $55 million in additional liquidity and relief on certain financial and liquidity covenants.
- Pact includes new $25 million term loan and includes a waiver of the $30 million minimum liquidity covenant until the first week ending after July 1
- Includes forbearance on financial covenant violations while company seeks strategic transaction
- “We are pleased to have reached an agreement with our lending group that provides covenant relief and incremental capital to support our new product launch and marketing plans as we enter the Memorial Day selling season,” says Amy O’Keefe, Sleep ...
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