Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 46

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 46
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 of having completed the Merger, Atlantic International and Staffing 360 would be subject to a number of risks, including the following: •each company may experience negative reactions from the financial markets, including negative impacts on its stock price; •each company may experience negative reactions from its partners, suppliers, employees and others; •each company will be required to pay their respective costs relating to the Merger, such as financial advisory, legal and accounting costs and associated fees and expenses, including, if applicable, a termination fee (with certain exceptions), whether or not the Merger is completed; and •matters relating to the Merger (including financial and accounting matters) will require substantial commitments of time and resources by Atlantic International management and Staffing 360 management, which could otherwise have been devoted to day -to -dayoperations or to other opportunities that may have been beneficial to Atlantic International or Staffing 360, as applicable, as an independent company. Furthermore, as previously reported by Staffing 360 on Current Report on Form 8 -K, on June 20, 2024, Staffing 360 received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (the “Staff”) indicating that it was no longer in compliance with the minimum stockholders’ equity requirement (the “Minimum Stockholders’ Equity Requirement”) for continued listing on the Nasdaq Capital Market (“Nasdaq”) pursuant to Nasdaq Listing Rule 5550(b)(1), which such rule requires listed companies to maintain stockholders’ equity of at least $2,500,000 or meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations, which Staffing 360 does not currently meet. On August 13, 2024, following the Staff’s review of Staffing 360’s plan to regain compliance with the Minimum Stockholders’ Equity Requirement submitted on June 14, 2024, and on August 5, 2024, Staffing 360 received a letter (the “Notice”) indicating that the Staff determined to deny Staffing 360’s request for continued listing on Nasdaq. Pursuant to the Notice, based on the preliminary nature of Staffing 360’s plan, the Staff determined that Staffing 360 did not provide a definitive plan evidencing its ability to achieve near term compliance with the Minimum Stockholders’ Equity Requirement. Staffing 360 requested an appeal of the Staff’s determination, and a hearing before the Nasdaq Hearings Panel (the “Panel