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Debt Obligations | 9 Months Ended
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Sep. 27, 2024
Debt Disclosure [Abstract] |
Debt Obligations | Debt Obligations Debt obligations as of September 27, 2024 and December 29, 2023 consisted of the following:
| Weighted Average Effective Interest Rate at September 27, 2024 |  | Maturity |  | September 27, 2024 |  | December 29, 2023
Senior secured term loans | 9.59 | % |  | August 2029 |  | $ | 262,750 |  |  | $ | 276,250 |
2028 Convertible senior notes | 2.77 | % |  | December 2028 |  | 287,500 |  |  | 287,500 |
2024 Convertible senior notes | 2.34 | % |  | December 2024 |  | 39,684 |  |  | 39,684 |
Asset-based loan facility | 7.40 | % |  | March 2027 |  | 100,000 |  |  | 100,000 |
Finance leases and other financing obligations | 6.54 | % |  | Various |  | 55,651 |  |  | 31,892 |
Unamortized deferred costs and premium |  |  |  |  | (14,311) |  |  | (17,339) |
Total debt obligations |  |  |  |  | 731,274 |  |  | 717,987 |
Less: current installments |  |  |  |  | (64,716) |  |  | (53,185) |
Total long-term debt |  |  |  |  | $ | 666,558 |  |  | $ | 664,802 |
Senior Secured Term Loan Credit Facility In March 2024, the Company entered into an amendment (“Eleventh Amendment”) to its senior secured term loan agreement, which reduced the interest rate spread on its senior secured term loan facility. As a result of this amendment, the Company incurred a loss on debt extinguishment of $50 during the thirty-nine weeks ended September 27, 2024, which represents the portion of unamortized deferred financing fees attributable to the lender that exited the loan syndicate. Arrangement fees of $775 and third-party transaction costs of $91 were expensed as incurred during the thirty-nine weeks ended September 27, 2024 and included in interest expense and other operating expenses, respectively, within the Company’s condensed consolidated statements of operations. Additionally, during the thirty-nine weeks ended September 27, 2024, the Company made voluntary principal prepayments totaling $12,000 towards the senior secured term loan. In connection with the prepayments, the Company wrote-off unamortized deferred financing fees of $146 and $462 during the thirteen and thirty-nine weeks ended September 27, 2024, respectively, which were included in interest expense within the Company’s condensed consolidated statements of operations. GreenLeaf Unsecured Note During the thirty-nine weeks ended September 27, 2024, the Company made a scheduled principal payment of $5,000 towards the GreenLeaf Note. The GreenLeaf Note is presented under the caption “Finance leases and other financing obligations” in the table above. Convertible Notes The net carrying value of the Company’s convertible senior notes as of September 27, 2024 and December 29, 2023 was:
|  | September 27, 2024 |  | December 29, 2023
|  | Principal Amount |  | Unamortized Deferred Costs and Premium |  | Net Amount |  | Principal Amount |  | Unamortized Deferred Costs and Premium |  | Net Amount
2028 Notes |  | $ | 287,500 |  |  | $ | (4,870) |  |  | $ | 282,630 |  |  | $ | 287,500 |  |  | $ | (5,730) |  |  | $ | 281,770 |
2024 Notes |  | 39,684 |  |  | (46) |  |  | 39,638 |  |  | 39,684 |  |  | (185) |  |  | 39,499 |
Total |  | $ | 327,184 |  |  | $ | (4,916) |  |  | $ | 322,268 |  |  | $ | 327,184 |  |  | $ | (5,915) |  |  | $ | 321,269 |
The components of interest expense on the Company’s convertible notes were as follows:
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
| September 27, 2024 |  | September 29, 2023 |  | September 27, 2024 |  | September 29, 2023
Coupon interest | $ | 1,893 |  |  | $ | 1,893 |  |  | $ | 5,679 |  |  | $ | 5,685 |
Amortization of deferred costs and premium | 333 |  |  | 333 |  |  | 999 |  |  | 1,001 |
Total interest | $ | 2,226 |  |  | $ | 2,226 |  |  | $ | 6,678 |  |  | $ | 6,686 |
As of September 27, 2024, the Company had reserved $29,377 of its asset-based loan facility for the issuance of letters of credit and funds totaling $170,623 were available for borrowing.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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