Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.3
Fair Value Measurements (Tables)
 9 Months Ended
Oct. 02, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables summarize the fair values of financial instruments measured at fair value on a recurring basis as of October 2, 2023 and January 2, 2023.

Items Measured at Fair Value at October 2, 2023
(in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3)
Warrant liability —  $ 362  — 
Total $ —  $ 362  $ — 

Items Measured at Fair Value at January 2, 2023
(in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3)
Warrant liability —  $ 195  — 
Total $ —  $ 195  $ — 
Input Variable for Black-Scholes Model
The following table summarizes activity RSUs and PSUs during the nine months ended October 2, 2023:

Number of Restricted Stock Units Weighted Average Grant Date Fair Value
Non-vested at January 2, 2023 1,445,600 $ 11.68 
Granted 793,460  1.24 
Vested (356,644) 13.55 
Forfeited (298,916) 5.72 
Non-vested at October 2, 2023 1,583,500  $ 7.11 
The input variables for the Black-Scholes are noted in the table below:

October 2, 2023 January 2, 2023
Risk-free interest rate 4.95  % 4.14  %
Expected life in years 2.2 3.0
Expected volatility 94.5  % 68.0  %
Expected dividend yield —  % —  %