Sleep Number Enters Asset Purchase Agreement to Combine with Sleep Country Canada, Creating an Industry Leader in North America

Sleep Number Enters Asset Purchase Agreement to Combine with Sleep Country Canada, Creating an Industry Leader in North America

Initiates Court-Supervised Sale Process to Facilitate Transaction

Receives New Financing to Support Ongoing Operations During Court-Supervised Sale Process

Sleep Number is Continuing to Serve New and Existing Customers

Sleep Number Corporation (Nasdaq: SNBR) today announced that it has entered into an agreement to combine with Sleep Country Canada to create a leading North American mattress and bedding company. The transaction will enable the combined company to provide consumers across the United States and Canada a broader assortment of innovative sleep products and services in stores and online. To facilitate the combination, Sleep Number initiated a voluntary Chapter 11 sale process.