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Subsequent Events
12 Months Ended
Dec. 27, 2020
Subsequent Events [Abstract]  
Subsequent Events

(17) Subsequent Events

Securities Purchase Agreement

On February 9, 2021, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with accredited Purchasers (the “Purchasers”), pursuant to which the Company agreed to issue and sell to the Purchasers in a private placement an aggregate of (i) 3,249,668 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”) and (ii) warrants (the “Warrants”) to purchase an aggregate of 1,299,861 shares of common stock, for an aggregate purchase price of $15.9 million (the “Offering”). The Warrants will be exercisable at an exercise price of $5.45 per share at any time on or after August 13, 2021 and will and expire five years from the date of issuance. The Warrants will be exercisable by net exercise.

The Offering closed on February 12, 2021. The Company received aggregate gross proceeds of approximately $15.9 million, before deducting placement agent fees and offering expenses of approximately $1 million, and excluding the exercise of any warrants.

Credit Facility

A Fifth Amendment to the Credit Agreement was entered into as of February 26, 2021. See Note 9 for further details.