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Debt (Tables)

3 Months Ended

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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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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