Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 505

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 505
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 Amendment, the Jackson Notes each have a maturity date of January 13, 2025; WHEREAS, as of January [•], 2025, the Jackson Notes have (i) an aggregate outstanding principal balance of $10,116,249 (the “ Outstanding Principal ”) and (ii) aggregate accrued and unpaid interest of $[•] (the “ Outstanding Interest ”); WHEREAS, the obligations of the Company to Jackson under the Jackson Notes and the Note Documents (as defined in the Purchase Agreement) are (a) guaranteed by the Guarantors party thereto pursuant to the provisions of Article 4 of the Purchase Agreement (the “Guarantee”), and (b) secured pursuant to (i) that certain Amended and Restated Security Agreement, dated as of September 15, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”), by and among the Company, the guarantors party thereto from time to time and Jackson, (ii) that certain Amended and Restated Pledge Agreement, dated as of September 15, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “ Pledge Agreement ”), by and among the Company, the guarantors party thereto from time to time and Jackson, (iii) that certain Mortgage over shares dated February 2, 2018, by the Company in favor of Jackson in respect of the shares of S360 Holdings Ltd. pledged pursuant thereto (as amended, restated, supplemented or otherwise modified from time to time, the “ Existing Share Mortgage ”), and (iv) the other Security Documents (as defined in the Purchase Agreement) (collectively, with the Security Agreement, the Pledge Agreement and the Existing Share Mortgage, the “ Security Instruments ”); WHEREAS, the Company entered into that certain Agreement and Plan of Merger (the “ Merger Agreement ”), dated as of November 1, 2024, by and among Atlantic International Corp (“ Atlantic ”), A36 Merger Sub Inc., a wholly-owned subsidiary of Atlantic, and the Company; and WHEREAS, pursuant to Section 3.2(f) of the Merger Agreement, at or prior to the Closing, the Company is obligated to deliver to Atlantic this (x) Conversion Agreement and Waiver (this “ Agreement ”) and (y) that certain Lock-Up Agreement (as defined herein), whereby: (i) all Outstanding Interest will