Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 311

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 311
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 the nine existing participating investors, which amended warrants to purchase up to 657,858shares of common stock (prior to amendment, the “Original Warrants”). The Original Warrants had exercise price that ranged from $ 18.50to $ 38.00per share and expiration dates that ranged from July 22, 2026 to November 1, 2026. The Warrant Amendment Agreements reduced the exercise price of the Original Warrants to $ 5.85per share and extended the expiration date to January 7, 2028, the date that is five and one -halfyears following the closing of the July 2022 Private Placement. The Company calculated an incremental fair value of $ 837by calculating the excess, of the fair value of the modified over the fair value of that instrument immediately before it is modified. This increase in fair value was recorded in additional paid in capital. In connection with the Third Amended and Restated Note Purchase Agreement, the Company (i) issued five year warrants to purchase up to an aggregate of 24,332shares of common stock at an exercise price of $ 3.06per share, which expire on October 27, 2027, and (ii) amended certain warrants to purchase up to an aggregate of 15,093shares of common stock such that the exercise price was reduced from $ 60.00per share to $ 3.06per share, and the expiration date of the warrant was extended from January 26, 2026 to October 27, 2027, which resulted in a fair value adjustment of $ 29. These warrants were recorded as additional debt discount which will be amortized over the term of the 2022 Jackson Note using the effective interest method. On September 1, 2023, the Company entered into an inducement offer letter agreement (the “Inducement Letter”) with a certain holder (the “Holder”) of certain of its existing warrants to purchase up to an aggregate of 2,761,170shares of common stock issued to the Holder on July 7, 2022 (as amended on February 10, 2023), and (ii) February 10, 2023 (collectively, the “Existing Warrants”). Pursuant to the Inducement Letter, the Holder agreed to exercise for cash its Existing Warrants to purchase an aggregate of 2,761,170shares of common stock at a reduced exercise price of $ 0.83per