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Debt Obligations
 9 Months Ended
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
MaturitySeptember 27, 2024December 29, 2023
Senior secured term loans9.59 %August 2029$262,750 $276,250 
2028 Convertible senior notes2.77 %December 2028287,500 287,500 
2024 Convertible senior notes2.34 %December 202439,684 39,684 
Asset-based loan facility7.40 %March 2027100,000 100,000 
Finance leases and other financing obligations6.54 %Various55,651 31,892 
Unamortized deferred costs and premium(14,311)(17,339)
Total debt obligations731,274 717,987 
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, 2024December 29, 2023
Principal AmountUnamortized Deferred Costs and PremiumNet AmountPrincipal AmountUnamortized Deferred Costs and PremiumNet Amount
2028 Notes$287,500 $(4,870)$282,630 $287,500 $(5,730)$281,770 
2024 Notes39,684 (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 EndedThirty-Nine Weeks Ended
 September 27, 2024September 29, 2023September 27, 2024September 29, 2023
Coupon interest$1,893 $1,893 $5,679 $5,685 
Amortization of deferred costs and premium333 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.