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Subsequent Events
12 Months Ended
Dec. 28, 2024
Subsequent Events [Abstract]  
Subsequent Events

15. Subsequent Events

 

The Company has evaluated subsequent events or transactions that have occurred after the consolidated balance sheet date of December 28, 2024 through the date of this filing of the consolidated financial statements with the SEC on this Annual Report on Form 10-K and determined that, except as disclosed below, there have been no material subsequent events that have occurred since December 28, 2024 through the date of this filing that would require recognition or disclosure in our consolidated financial statements.

 

On January 24, 2025, the Company entered into an At-The-Market Equity Offering Sales Agreement (the “Sales Agreement”) with Stifel, Nicolaus & Company, Incorporated, as agent (“Stifel”), pursuant to which the Company may offer and sell, from time to time through Stifel, shares of its common stock, par value $0.01 per share (the “Common Stock”), with aggregate gross proceeds of up to $50.0 million (the “Shares”) assuming market conditions, company stock price and number of available shares authorized for issuance. The offer and sale of the Shares will be made pursuant to a shelf registration statement on Form S-3 and the related prospectus, which became effective upon filing with the Securities and Exchange Commission on June 4, 2024, and a prospectus supplement dated January 24, 2025 related thereto. Subsequent to year end, the Company cannot use the ATM Agreement entered into on January 24, 2025 until such time the Company can utilize Form S-3.

 

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)