v3.26.1
Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 27, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assumptions Used for Valuation of Warrants The following were the assumptions used in the Black-Scholes option-pricing model to mark-to-market the fair value of the total delayed draw term loan warrant liability as of June 26, 2026, the last trading day of the period:
Risk-free interest rate4.11%
Average expected term (years)4.0
Expected volatility113.10%
Dividend yield
Exercise price$1.95
The following table sets forth selected inputs to the binomial lattice valuation model used to value the 2030 Notes Embedded Derivative as of the respective dates indicated:
InputsJune 27, 2026December 31, 2025
Term (years)4.34.8
Continuous risk free rate4.07%3.68%
Volatility40.0%40.0%
Stock price on valuation date$0.66$0.82
Discount rate (continuous)24.51%19.71%
Schedule of Changes in Fair Value of Warrants Liability
The following table sets forth a summary of the changes in the fair value of the total delayed draw term loan warrant liability for the periods indicated (in thousands):
Three Months Ended
Six Months Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Beginning balance$3,766 $— $5,066 $— 
Fair value of delayed draw term loan warrants issued during the period— 7,983 — 7,983 
Fair value of contingently issued delayed draw term loan warrants— 12,160 — 12,160 
Remeasurement of delayed draw term loan warrants liability76 — (1,224)— 
Ending balance$3,842 $20,143 $3,842 $20,143 
The following table sets forth a summary of activity of the 2030 Notes Embedded Derivative liability for the periods indicated. (in thousands):
Three Month EndedSix Months Ended
June 27, 2026June 27, 2026
Beginning balance, at fair value$26,137 $39,152 
Pro rata reduction of liability due to partial conversions(15,379)(16,503)
Change in fair value from remeasurement3,838 (8,053)
Ending balance as of June 27, 2026, at fair value$14,596 $14,596