Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 306

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 306
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, 2022, we recorded a right of use (“ROU”) lease asset of approximately $ 4,813with a corresponding lease liability of approximately $ 5,248and ROU lease asset of approximately $ 5,678with a corresponding lease liability of approximately $ 6,154, respectively, based on the present value of the minimum rental payments of such leases. The Company’s finance leases are immaterial both individually and in the aggregate. In January 2023, the Company entered into a new lease agreement for an office lease in Danvers, MA for a term of 3 years. This resulted in increases to right of use assets and lease liabilities of $ 177. In July 2023, the Company entered into a new lease agreement for an office lease in Chelsea, MA for a term of 2 years. This resulted in increases to right of use assets and lease liabilities of $ 40. F-28

STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FISCAL YEARS ENDED DECEMBER 30, 2023 AND DECEMBER 31, 2022
(All amounts in thousands) NOTE 12 — LEASES (cont.)

| Lease Cost                                    |     | Classification |     | December 30, 
 2023         |      |   |     | December 31, 
         2022 |   |
|:----------------------------------------------|:----|:---------------|:----|:-------------|-----:|:--|:----|-------------:|:--|
| Operating lease cost                          |     | SG&A Expenses  |     | $            |  680 |   |     |        1,388 |   |
| Other information                             |     |                |     |              |      |   |     |              |   |
| Weighted average remaining lease term (years) |     |                |     |              | 3.78 |   |     |         4.30 |   |
| Weighted average discount rate                |     |                |     |              | 7.00 | % |     |         7.00 | % |

| Future Lease Payments  
 2023                   |     |   |       |
|:-----------------------|:----|:--|------:|
| 2024                   |     | $ | 1,358 |
| 2025                   |     |