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DEBT (Tables)

12 Months Ended

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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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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