Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
3 Months Ended
Apr. 01, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
For the interim Unaudited Condensed Consolidated Financial Statements as of April 1, 2023, the Company has evaluated subsequent events through the issuance date of the financial statements.
On April 10, 2023, Janus Core, entered into Amendment Number Three to the ABL Credit and Guarantee Agreement to that certain ABL Credit and Guarantee Agreement, dated as of February 12, 2018, by and among Janus Core, as parent borrower, Wells Fargo Bank, National Association, as administrative agent and collateral agent, and the other parties thereto. The Amendment, among other things, (i) replaces the interest rate based on the LIBOR and related LIBOR-based mechanics applicable to borrowings under the ABL Credit and Guarantee Agreement with an interest rate based on the Secured Overnight Financing Rate (“SOFR”) and related SOFR-based mechanics and (ii) updates certain other provisions of the ABL Credit and Guarantee Agreement to reflect the transition from LIBOR to SOFR.
Subsequent to the period end, the Company initiated a restructuring plan to relocate one of its domestic manufacturing facilities, which will result in centralization of our Western United States manufacturing production. This consolidation is not expected to have a material impact on our business, nor do we expect the Company to incur material costs associated with the consolidation.