Condensed Financial Information of Registrant (Parent Company Only)

12 Months Ended

Dec. 30, 2023

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Registrant (Parent Company Only)

18. CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

Aveanna Healthcare Holdings Inc.
(Parent Company Only)
Condensed Balance Sheets
(Amounts in thousands, except share and per share data)
	As of
	December 30, 2023			December 31, 2022
Assets:
Investment in subsidiaries	$	(127,435	)	$	(4,175	)
Total assets		(127,435	)		(4,175	)
Deferred restricted stock units		2,135			2,135
Stockholders’ deficit:
Preferred stock, $0.01 par value as of December 30, 2023 and December 31, 2022
5,000,000 shares authorized; none issued or outstanding		-			-
Common stock, $0.01 par value, 1,000,000,000 shares authorized;
190,733,153 and 188,859,165 issued and outstanding, respectively		1,907			1,888
Additional paid-in capital		1,239,757			1,228,512
Accumulated deficit		(1,371,234	)		(1,236,710	)
Total stockholders’ deficit		(129,570	)		(6,310	)
Total liabilities, deferred restricted stock units, and stockholders’ deficit	$	(127,435	)	$	(4,175	)

Aveanna Healthcare Holdings Inc.
(Parent Company Only)
Condensed Statement of Operations
(Amounts in thousands, except per share data)
	For the fiscal years ended
	December 30, 2023			December 31, 2022
Deficit in net loss of subsidiaries	$	(134,524	)	$	(662,034	)
Net loss	$	(134,524	)	$	(662,034	)
Net loss per share, basic and diluted	$	(0.71	)	$	(3.57	)
Weighted average shares of common stock outstanding, basic and diluted	$	189,956		$	185,553

The accompanying note is an integral part of these condensed financial statements.

A statement of cash flows has not been presented as Aveanna Healthcare Holdings Inc. did not have any cash as of or for the fiscal years ended December 30, 2023 and December 31, 2022.

Note to Condensed Financial Statements of Registrant (Parent Company Only)

Basis of Presentation

These condensed parent company-only financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of the subsidiaries of Aveanna Healthcare Holdings Inc. (“Parent”) (as defined in Rule 4-08(e)(3) of Regulation S-X) as of December 30, 2023 exceeded 25% of the consolidated net assets of the Company. The ability of the Company’s operating subsidiaries to pay dividends may be restricted due to the terms of the First Lien Term Loan, Revolver and Second Lien Term Loan, which are discussed in Note 6 – Long-Term Obligations.

These condensed parent company financial statements have been prepared using the same accounting principles and policies described in the notes to the consolidated financial statements, with the only exception being that the parent company accounts for its subsidiaries using the equity method. These condensed financial statements should be read in conjunction with the consolidated financial statements and related notes thereto.