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Debt (Tables)

12 Months Ended

May 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consists of the following as of May 30, 2021 and May 31, 2020 (in thousands):

			May 30, 2021						May 31, 2020
Term loan			$	170,000					$	114,000
Total principal amount of long-term debt			170,000						114,000
Less: unamortized debt issuance costs			(5,098)						(1,083)
Total long-term debt, net of unamortized debt issuance costs			164,902						112,917
Less: current portion of long-term debt, net			—						(11,554)
Long-term debt, net			$	164,902					$	101,363

Schedule of Maturities of Long-term Debt

The future minimum principal payments of the Company’s debt for each year presented are as follows (in thousands):

			Term Loan
Fiscal year 2022			$	—
Fiscal year 2023			2,125
Fiscal year 2024			8,469
Fiscal year 2025			8,422
Fiscal year 2026			150,984
Total			$	170,000

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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