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Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
May 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Components of AOCL, Net of Tax The components of AOCL, net of tax, are as follows (in thousands):
 AOCL
Balance as of May 31, 2020$(2,808)
Other comprehensive income before reclassifications, net of tax effect(344)
Amounts reclassified from OCI1,794 
Other comprehensive income, net 1,450 
Balance as of May 30, 2021(1,358)
Amounts reclassified from OCI772 
Other comprehensive income, net 772 
Balance as of May 29, 2022(586)
Amounts reclassified from OCI586 
Other comprehensive income, net 586 
Balance as of May 28, 2023$— 
Schedule of Accounts, Notes, Loans and Financing Receivable
The changes in the allowance for credit losses related to accounts receivable are as follows (in thousands):

Year Ended
May 28, 2023May 29, 2022May 30, 2021
As RestatedAs Restated
Beginning balance$522 $522 $— 
Provision163 — 773 
Charge-offs(200)— (251)
Ending Balance$485 $522 $522 
Disaggregation of Revenue
The Company disaggregates its revenue based on how it markets its products and services and reviews results of operations. The following tables disaggregates revenue by major product lines and services (in thousands):
Year Ended
May 28, 2023May 29, 2022May 30, 2021
As RestatedAs Restated
Contract development and manufacturing organization
$76,378 $86,353 $75,789 
Fermentation26,891 23,007 22,790 
Other— 1,910 2,295 
Total$103,269 $111,270 $100,874 
Schedule of Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows (in thousands):
 May 28, 2023May 29, 2022May 30, 2021
As Restated
As Restated
Cash and cash equivalents – Consolidated Balance Sheet$19,091 $991 $763 
Cash and cash equivalents, discontinued operations— 652 532 
Cash and cash equivalents – Consolidated Statement of Cash Flow$19,091 $1,643 $1,295 
Schedule of Inventories As of May 28, 2023 and May 29, 2022, inventories consisted of the following (in thousands):
 Year Ended
 May 28, 2023May 29, 2022
As Restated
Finished goods$13,141 $13,397 
Raw materials17,351 15,488 
Work in progress10,349 7,115 
Total inventories$40,841 $36,000 
Schedule of Diluted Net (Loss) Income Per Share
The following table sets forth the computation of diluted net loss per share:
 Year Ended
(in thousands, except per share amounts)May 28, 2023May 29, 2022May 30, 2021
As RestatedAs Restated
Numerator:   
Net loss$(99,563)$(116,715)$(32,294)
Denominator:   
Weighted average shares for basic net loss per share29,958 29,466 29,294 
Weighted average shares for diluted net loss per share
29,958 29,466 29,294 
Diluted net loss per share$(3.32)$(3.97)$(1.10)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table summarizes the fair value of the Company’s assets and liabilities that are measured at fair value on a recurring and non-recurring basis (in thousands):
 Fair Value at May 28, 2023Fair Value at May 29, 2022
Assets:Level 1Level 2Level 3Level 1Level 2Level 3
Assets held for sale - nonrecurring
$— $— $— $— $— $1,027 
Total assets
$— $— $— $— $— $1,027 
Liabilities:
Debt derivative liability
$— $— $64,900 $— $— $— 
Total liabilities$— $— $64,900 $— $— 
Fair Value Measurement Inputs and Valuation Techniques
The key inputs to the valuation models that were utilized to estimate the fair value of the debt derivative liability were as follows as of May 28, 2023:

Debt Derivative
Liability
Assumptions
Discount rate
22.3% — 24.5%
Implied spread
18.5%
Risk free rate
3.8% — 6.0%
Schedule of Fair Value Reconciliation of Level 3
The following table reflects the fair value roll forward reconciliation of Level 3 assets and liabilities measured at fair value for the twelve months ended May 29, 2022 (in thousands):

Windset Investment
(As Restated)
Balance as of May 30, 2021$44,769 
Sale of Investment in non-public company(44,769)
Balance as of May 29, 2022$—