Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.23.1
Acquisitions (Tables)
 12 Months Ended
Jan. 02, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Consideration Paid At Acquisition Date
The acquisition-date fair value of the consideration transferred totaled $75.9 million, which consisted of the following:

Consideration Paid
(in thousands)
Common Stock $ 25,562 
Preferred Stock 46,906 
Option Consideration Shares 3,403 
Total Consideration $ 75,871 
Summary of Fair Values of Assets Acquired Net of Current Liabilities
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. The Company determined the fair value of certain intangible assets. The measurement period for such purchase price allocations ended on November 3, 2022 or twelve months from the date of acquisition and the allocation below is final.

(in thousands) Fair Value November 3, 2021
Cash $ 5,522 
Accounts receivable 597 
Inventory 986 
Other current assets 1,662 
Property & equipment 13,534 
Intangible assets 67,344 
Accounts payable, accrued expenses, and other current liabilities (15,451)
Long-term borrowings (77,063)
Deferred tax liability $ (1,755)
Fair Value of Tangible and Identifiable Intangible assets and liabilities assumed $ (4,624)
Consideration paid 75,871 
Goodwill $ 80,495 
Amount of Revenue and Net Loss
The amounts of revenue and net loss for Anthony's included in the Company’s consolidated statement of operations for the period from November 3, 2021, the acquisition date, through December 31, 2021 are as follows:

(in thousands) 2021
Revenue $ 22,419 
Net Loss (142)
The following represents the unaudited proforma consolidated statement of operations as if the Anthony's acquisition had been included in the consolidated results of the Company for the entire year ending December 31, 2021:

(in thousands) Year Ended December 31, 2021
Revenue $ 168,906 
Net Loss (138,490)