Debt (Tables)

12 Months Ended

May 26, 2024

Long-term debt consists of the following as of May 26, 2024 and May 28, 2023 (in thousands):


	May 26, 2024		May 28, 2023
Term loan credit facility, related party	$	157,313	$	142,503
Equipment sale finance liability, related party	7,150		7,730
Total principal amount of long-term debt	164,463		150,233
Less: unamortized debt discount	(504)		(605)
Less: debt discount, related party	(62,367)		(64,792)
Total long-term debt, net of unamortized debt issuance costs	101,592		84,836
Less: current portion of long-term debt, net, related party	(773)		(580)
Long-term debt, net	$	100,819	$	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:



Fiscal year 2025	$	773
Fiscal year 2026	773
Fiscal year 2027	773
Fiscal year 2028	773
Fiscal year 2029	773
Thereafter	160,598
Total	$	164,463

- Definition

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.

+ References

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+ Details