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DEBT (Tables) | 12 Months Ended
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May 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Instruments | Below is a summary of the Company’s term loan balances, including current debt and deferred financing fees as of May 31, 2023 and 2022.
(in thousands) |  | May 31, 2023 |  | May 31, 2022
Total Outstanding Loan Balances |  | 79,441 |  | 7,324
Less: Deferred Issuance Costs |  | (3,012) |  | (94)
Less: Current portion of Term Loan |  | (7,950) |  | (1,333)
Less: Long-term related party loan |  | (35,257) |  | — |
Long-term portion of Term Loan |  | $33,222 |  | $5,897
Below is the weighted-average interest rate for the Company's term loans as of May 31, 2023 and 2022.
|  | May 31, 2023 |  | May 31, 2022
Weighted-average interest rate |  | 13.4 | % |  | 5.0 | %
Schedule of Maturities of Long-Term Debt | Remaining Principal Payments Below is a summary of the remaining principal payments due over the life of the term loans as of May 31, 2023.
(in thousands) |  |
Year |  | Principal Payments
FY24 |  | $ | 9,394 |
FY25 |  | 46,586 |
FY26 |  | 10,780 |
FY27 |  | 8,550 |
FY28 |  | 4,131 |
Thereafter |  | — |
Total Term Loan Remaining Payments |  | $ | 79,441 |

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