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Stock-Based Compensation and Warrant Units (Tables)
 12 Months Ended
Sep. 24, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Total Stock-Based Compensation
The following table summarizes the components of total stock-based compensation included in the Company’s consolidated statements of operations for the year ended September 24, 2022 (in thousands):
 
    
September 24,
2022
  
Research and development
      9,671  
Selling, general, and administrative
      17,187  
  
 
 
  
Total stock-based compensation expense
    $ 26,858  
  
 
 
  
Summary of Restricted Stock Unit Activity
The following table summarizes the different types of RSUs granted by the Company during the year ended September 24, 2022:
 
    
September 24,
2022
  
RSUs (service-based vesting conditions)
      13,784,743  
RSUs (performance-based vesting conditions)
      578,453  
  
 
 
  
Total
      14,363,196  
  
 
 
  
 
The following table summarizes the RSU activity for the year ended September 24, 2022:
 
    
Shares
     
Weighted
Average
Grant
Date Fair
Value
  
Outstanding at September 26, 2021
      —        $ —    
Granted
      14,363,196        15.81  
Vested
      (1,831,505 )       15.81  
Forfeited
      (166,104 )       15.81  
  
 
 
     
 
 
  
Outstanding at September 24, 2022
      12,365,587      $ 15.81  
  
 
 
     
 
 
  
Summary of Units Outstanding and Vested
The following is a summary of Class C Units outstanding and vested immediately prior to the consummation of the Business Combination:
 
    
Class C

Units
  
Balance at September 28, 2019
      428,571  
Granted
      42,587  
Redeemed
      —    
Forfeited
      (42,587 ) 
  
 
 
  
Balance at September 26, 2020
      428,571  
Granted
      51,543  
Redeemed
      —    
Forfeited
      (51,543 ) 
  
 
 
  
Balance at September 25, 2021
      428,571  
Granted
      18,107  
Redeemed
      —    
Forfeited
      (18,107 ) 
  
 
 
  
Balance at June 7, 2022
      428,571  
  
 
 
  
Vested at June 7, 2022
      375,930  
The following is a summary of VAP Units outstanding which were converted to restricted stock units in the fourth quarter of fiscal year 2022:
 
    
VAP Units
  
Balance at September 28, 2019
      5,053,182  
Granted
      —    
Exercised
      —    
Forfeited
      (663,925 ) 
  
 
 
  
Balance at September 26, 2020
      4,389,257  
Granted
      —    
Exercised
      —    
Forfeited
      (349,637 ) 
  
 
 
  
Balance at September 25, 2021
      4,039,620  
Granted
      —    
Exercised
      (255,845 ) 
Forfeited
      (92,664 ) 
  
 
 
  
Balance at August 16, 2022
      3,691,111  
Converted to restricted stock units
      (3,691,111 ) 
  
 
 
  
Balance at September 24, 2022
      —    
  
 
 
  
Summary of Class C Units, Valuation Assumptions
The fair value of each Class C Unit grant was estimated on the date of the award using a Black-Scholes option pricing model with the following assumptions:
 
          
Year Ended
  
    
June 7,
2022
    
September 25,
2021
    
September 26,
2020
  
Dividend yield
      0 %      0 %      0 % 
Volatility
(a)
      45.0 %      40.0 %      50.0 % 
Risk-free interest rate
(b)
      2.30 %      0.29 %      0.12 % 
Expected term (years)
(c)
      2.00       2.00       1.25  
 
  •  
The expected volatility is estimated based on the historical volatility of a select peer group of similar publicly traded companies for a term that is consistent with the expected term of the Class C Units.
 
  •  
The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected term of the Class C Units.
 
  •  
The expected term is based on estimated liquidity event timing as further described above.
Summary of Warrants The assumptions made for purposes of estimating fair value under the Black-Scholes pricing model for the Warrants were as follows:
    
Selected
Assumption
  
Dividend yield
      0 % 
Volatility(a)
      43.0 % 
Risk-free interest rate
(b)
      1.65 % 
Expected term (years)
(c)
      10.00  
 
  •  
The expected volatility is estimated based on the historical volatility of a select peer group of similar publicly traded companies for a term that is consistent with the expected term of the Warrants.
 
  •  
The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected term of the Warrants.
 
  •  
The expected term is based on the contractual term of the Warrants.
The assumptions made for purposes of estimating fair value under the Black-Scholes pricing model for the June 2022 Warrant were as follows:
    
Selected
Assumption
  
Dividend yield
      0 % 
Volatility (a)
      40.0 % 
Risk-free interest rate
(b)
      2.80 % 
Expected term (years)
(c)
      5.00  
 
  •  
The expected volatility is estimated based on the historical volatility of a select peer group of similar publicly traded companies for a term that is consistent with the expected term of the June 2022 Warrant.
 
  •  
The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected term of the June 2022 Warrant.
 
  •  
The expected term is based on the contractual term of the June 2022 Warrant.
The following table summarizes stock warrant activity for the year ended September 24, 2022:
 
    
Warrant Units
  
Outstanding and nonvested at September 26, 2020
      —    
Granted
      714,022  
Vested
      (446,741 ) 
  
 
 
  
Outstanding and nonvested at September 25, 2021
      267,281  
Granted
      258,972  
Vested
      (267,281 ) 
  
 
 
  
Outstanding and nonvested at September 24, 2022
      258,972