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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
8 Months Ended
Jan. 07, 2024
Jan. 01, 2023
Cash flows from operating activities    
Net (loss) income $ 1,919 $ 1,253
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Gain on modification of operating leases (3,281) 0
Depreciation expense 5,417 5,574
Non-cash operating lease expense 4,048 3,893
Operating lease tenant allowances 3,789 4,753
Stock based compensation 615 178
Gain on change in fair value of warrant liabilities and other (19,305) 0
Gain on extinguishment of debt 0 (8,448)
Amortization of debt issuance costs 1,425 13
Accounts receivable (741) (283)
Inventories (126) (124)
Prepaid expenses and other current assets (1,265) (380)
Other long-term assets (5,808) 0
Accrued occupancy costs (3,954) (2,032)
Other accrued liabilities 1,867 697
Operating lease liabilities (6,808) (5,897)
Net cash provided by (used in) operating activities (15,818) 1,688
Cash flows from investing activities    
Purchase of property and equipment (14,771) (1,842)
Net cash provided by (used in) investing activities (14,771) (1,842)
Cash flows from financing activities    
Proceeds from stock option exercises 0 66
Proceeds from warrant exercises 1 0
Proceeds from warrant issuances 24,592 0
Proceeds from issuance of redeemable convertible preferred stock, net 19,843 200
Payment of transaction costs related to reverse recapitalization (23,437) 0
Principal payments on long-term notes payable (466) (1,379)
Proceeds from the Oaktree Tranche 2 Loan 1,590 0
Debt issuance costs (773) 0
Redemption of long-term notes payable 0 (100)
Proceeds from long-term notes payable, net 40,440 0
Net cash provided by (used in) financing activities 61,790 (1,213)
Net change in cash and cash equivalents 31,201 (1,367)
Cash and cash equivalents, beginning of period 8,436 8,907
Cash and cash equivalents, end of period 39,637 7,540
Supplemental disclosures of cash flow information    
Cash paid for interest 5,241 690
Supplemental disclosures of non-cash operating, investing and financing activities    
Interest Forfeit, Long Term Debt 890 0
Reclassification of liability-classified warrants 940 0
Transaction costs incurred in connection with the reverse recapitalization but not yet paid 388 0
Transfer of warrants related to business combination 29,824 0
Increase in operating lease right-of-use assets 5,963 7,580
Non-cash finance obligation 1,270 0
Non-cash capital expenditures included in accounts payable 2,198 3,610
Change in the redemption amount of the redeemable convertible preferred stock 1,423 0
Accretion of cumulative dividends on Series I redeemable convertible preferred stock 878 0
Redeemable Convertible Preferred Stock    
Supplemental disclosures of non-cash operating, investing and financing activities    
Debt converted 0 1,050
Common Stock    
Supplemental disclosures of non-cash operating, investing and financing activities    
Debt converted 5,137 0
Preferred Stock    
Supplemental disclosures of non-cash operating, investing and financing activities    
Conversion of stock 75,501 0
Legacy Pinstripes Common Stock    
Supplemental disclosures of non-cash operating, investing and financing activities    
Conversion of stock 180 0
Nonrelated Party    
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Accounts payable 6,400 3,165
Related Party    
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Accounts payable $ (10) $ (674)