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Debt (Tables) | 3 Months Ended
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Aug. 27, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Long-term debt, net consists of the following (in thousands):
| August 27, 2023 |  | May 28, 2023
Term loan, related party | $ | 146,086 |  |  | $ | 142,503 |
Equipment sale finance liability, related party | 7,730 |  |  | 7,730 |
Total principal amount of long-term debt | 153,816 |  |  | 150,233 |
Less: unamortized debt discount | (579) |  |  | (605) |
Less: debt discount, related party | (64,407) |  |  | (64,792) |
Total long-term debt, net of discounts | 88,830 |  |  | 84,836 |
Less: current portion of long-term debt, net, related party | (773) |  |  | (580) |
Long-term debt, net | $ | 88,057 |  |  | $ | 84,256 |
Schedule of Maturities of Long-term Debt | The future minimum principal payments of the Company’s term loan and equipment sale finance liability for each year presented are as follows (in thousands), excluding forecasted cash and PIK interest:
Remainder of Fiscal year 2024 | $ | 580 |
Fiscal year 2025 | 773 |
Fiscal year 2026 | 773 |
Fiscal year 2027 | 773 |
Fiscal year 2028 | 773 |
Thereafter | 150,144 |
Total | $ | 153,816 |

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