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Subsequent Event
12 Months Ended
Jan. 02, 2021
Subsequent Events [Abstract]  
Subsequent Event [Text Block]

25. Subsequent Event


Exchange of Series A Preferred Stock for Common Shares

On February 22, 2021, Oaktree exchanged all of their shares of Series A Preferred Stock for 12,633,427 Common Shares, representing 12.3% of the Company's issued and outstanding Common Shares on a post-exchange basis. The shares of Series A Preferred Stock were exchangeable into Common Shares at an exchange price of $7.00 and paid a cumulative dividend of 8% per year. Both prior to and after the exchange, Oaktree beneficially owns or controls shares equal to 19.0% of the total outstanding voting shares of the Company. Oaktree's shares of Series B-1 Preferred Stock remain subject to permanent exchange and voting caps. Oaktree continues to have the right to designate two nominees for election to the Company's Board of Directors and to other governance rights previously held. Following the exchange, the Company will no longer be required to pay the 8.0% per annum dividend on the Series A Preferred Stock.