Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 490

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 490
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 $39,924 | $145,573 |   $166,535 | $212,652 |
| Shares Outstanding (Basic)               |  48,729 |     48,729 |   48,729 |     48,729 |   48,729 |
| Shares Outstanding (Diluted)             |  50,029 |     50,029 |   50,029 |     50,029 |   50,029 |
| Price Per Share (Basic)                  |   $0.04 |      $0.82 |    $2.99 |      $3.42 |    $4.36 |
| Price Per Share (Diluted)                |   $0.04 |      $0.80 |    $2.91 |      $3.33 |    $4.25 |

| Value of Atlantic International Corp. Common Stock |

Annex B-27

THE MERGER CONSIDERATION For the purposes of this analysis, we calculate the Merger Consideration as 1.2021 times the price of one share of Parent Common Stock. In this analysis, we provide several estimates of the value of one share of Parent Common Stock. To determine the fairness, from a financial point of view, to the holders of shares of Company Common Stock entitled to receive such Merger Consideration, we calculate the dollar amount of the Merger Consideration using several estimates of value for one share of Parent Common Stock and compare that to our estimates of the value of one share of Company Common Stock. The following graphs provide a visual summary of our value estimates and the Merger Consideration. Value Range of Parent: $2.64 - $3.33

| Value Range of the Company: $.73 - $1.58 |     | Merger Consideration $3.17 - $5.90 |

| Summary and Opinion |

Annex B-28

Implied Premium at Market Values The table below shows the premium to the Company Common Shareholders assuming a 1.2021 exchange ratio and Company and Parent closing stock prices as of October 25, 2024. As shown in the table, the implied premium at current market prices for Company and Parent stock is roughly 210%. Merger Consideration at Market Values

| Market Value of Parent Common Stock                                         |   $4.91 |
| Exchange Ratio                                                              | 1.2021x |
| Merger Consideration                                                        |   $5.90 |