Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 523

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 523
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 shares of the Company’s Series H Convertible Preferred Stock, par value $0.00001 per share (the “ Preferred Stock ”), the terms of which are set forth in the Amended and Restated Certificate of Designation of Preferences, Rights and Limitations of Series H Convertible Preferred Stock (the “ Certificate of Designations ”); Whereas , the Seller’s Representative is the representative of all the stockholders of the outstanding shares of Preferred Stock; and WHEREAS, the Company and the Seller’s Representative desire to amend certain provisions of the Certificate of Designations; and WHEREAS, on November 1, 2024, the Company, Atlantic International Corp., a Delaware corporation (“Atlantic”) and A36 Merger Sub Inc., a Delaware Corporation and a wholly-owned subsidiary of Atlantic, entered into that certain Agreement and Plan of Merger (as may be amended from time to time, the “ Merger Agreement ”). Now, therefore , in consideration of the premises and mutual covenants and obligations hereinafter set forth, the parties hereto, intending legally to be bound, hereby agree as follows: 1. Definitions . Capitalized terms used herein but not otherwise defined herein shall have the respective meanings given such terms in the Certificate of Designations. 2. Amendment to the Certificate of Designations . The parties hereto hereby agree to amend the terms of the Preferred Stock as set forth in the Certificate of Amendment to the Certificate of Designations of the Preferred Stock in the form attached hereto as Exhibit A (the “ Amendment ”). Upon the effectiveness of this Agreement, the Company shall promptly file the Amendment with the Secretary of State of the State of Delaware and provide a copy thereof to the Seller’s Representative promptly after such filing. 3. Conversion of Preferred Stock; Waiver . Pursuant to the terms of the Merger Agreement, the parties hereby agree to (i) convert any amounts owed in Earned Contingent Cash Payment (as defined in the Merger Agreement) into five million (5,000,000) shares of Preferred Stock and (ii) waive any outstanding interest, dividends or other payments related to the Preferred Stock. 4. [Lock-Up Agreement . Pursuant to the terms of the Merger Agreement, the Seller’s Representative hereby agrees to enter into that certain lock-up agreement pursuant to which the Merger Consideration (as defined in the Merger Agreement) for all of the shares of Preferred Stock are; (A) subject to a lock up for the 6 months after Closing (as