Market Chatter: Sleep Number Seeks Rescue Financing

MT Newswires Live04-02

Sleep Number (SNBR) is looking for rescue financing to avoid other options including a potential bankruptcy, Bloomberg reported Wednesday, citing people familiar with the situation.

The company's banker, Guggenheim Partners, has been contacting investors to arrange fresh capital, including a priming loan of about $50 million, according to the report.

Talks regarding the rescue loan are ongoing and no final decision has been made as the company could opt for other alternatives, the report said.

Sleep Number did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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