Fair Value of Financial Instruments (Tables)

9 Months Ended

Mar. 27, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value and carrying value of our debt

The fair value and carrying value of our debt as of March 27, 2022 and June 27, 2021 are as follows:

	March 27, 2022		June 27, 2021
Carrying value	$	880,810	$	885,387
Fair value	874,034		887,102

Schedule of fair value measurements and hierarchy level

As of March 27, 2022 and June 27, 2021, the Company held certain liabilities that were required to be measured at fair value on a recurring basis. The following tables are summaries of fair value measurements and hierarchy level as of:

	March 27, 2022
	Level 1		Level 2		Level 3		Total
Public warrants	$	24,123	$	—	$	—	$	24,123
Private placement warrants	—		—		9,975		9,975
Unvested warrants	—		—		3,854		3,854
Earnout shares	—		—		204,416		204,416
Contingent consideration	—		—		1,470		1,470
Derivatives	—		2,141		—		2,141
Total liabilities	$	24,123	$	2,141	$	219,715	$	245,979

Schedule of fair value of the warrant liability is classified as Level 1 and Level 3

The key inputs into the Monte Carlo simulation as of March 27, 2022 were as follows:

Input	Warrant Liability			Earnout
Expected term in years	4.72			4.72
Expected volatility	28		%	55		%
Risk-free interest rate	2.54		%	2.54		%
Stock price	$	10.86		$	10.86
Dividend yield	—			—

Schedule of classification of the derivative liability fair value

The following table sets forth a summary of changes in the estimated fair value of the Company’s Level 3 Earnout liability and Warrant Liability for the nine months ended March 27, 2022:

	June 27, 2021		Issuances		Settlements		Changes in fair value		March 27, 2022
Earnouts	$	—	$	181,180	$	—	$	23,236	$	204,416
Warrant liability	—		22,426		5,222		20,748		37,952
Totals:	$	—	$	203,606	$	5,222	$	43,984	$	242,368