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Shareholders' Equity | 6 Months Ended
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Dec. 29, 2024
Equity [Abstract] |
Shareholders' Equity | Shareholders' Equity On December 9, 2024, the Company established an "at-the-market" offering program (the ATM Program) pursuant to which the Company could offer and sell, from time to time through sales agents, up to $200 million of the Company's common stock. The ATM Program was conducted pursuant to an equity distribution agreement (the Equity Distribution Agreement) entered into by the Company and J.P. Morgan Securities LLC and Wells Fargo Securities, LLC (the Managers). As of December 29, 2024, the Company sold approximately 10.9 million shares of common stock under the ATM Program and received proceeds of approximately $91.4 million. The program concluded on January 14, 2025 and the Company completed the sale of approximately $200 million of common stock and, as such, the ATM automatically terminated in accordance with the terms of the Equity Distribution Agreement. In total, the Company sold and received payment for 27.8 million additional shares of common stock at a weighted average price of $7.20 per share through the ATM Program for total gross proceeds of approximately $200.0 million and net proceeds of approximately $195.5 million, after $4 million in commissions to the Mangers and $0.5 million in other offering costs. The Company intends to use the net proceeds for general corporate purposes.

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