Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 479

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 479
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Annex A-2-4

Annex B

FAIRNESS OPINION ON PROPOSED
MERGER OF STAFFING 360 SOLUTIONS, INC.
AND ATLANTIC INTERNATIONAL CORP. Prepared for:
The Board of Directors
Staffing 360 Solutions, Inc.
757 3 rdAvenue
New York, NY 10017 Report Dated: October 29, 2024 Valuation Data as of: October 25, 2024

OPINION LETTER October 29, 2024 The Board of Directors
Staffing 360 Solutions, Inc.
757 3 rdAvenue
New York, NY 10017 Members of the Board of Directors: We understand that Staffing 360 Solutions, Inc., a Delaware corporation (the “Company”), proposes to enter into an Agreement and Plan of Merger, dated as of the date hereof (the “Merger Agreement”), with Atlantic International Corp, a Delaware corporation (“Parent”), and A36 Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent (“Merger Sub”), that provides for, among other things, the merger (“Merger”) of Merger Sub with an into the Company, pursuant to which the Company will continue as the surviving entity and become a wholly owned subsidiary of Parent. As a result of the merger, each issued and outstanding share of Company common stock, par value $0.0001, (“Company Common Stock”), other than any Excluded Shares and Dissenting Shares (as defined in the Merger Agreement), will be converted into the right to receive the Merger Consideration. “Merger Consideration” means a fixed exchange ratio of 1.2021 validly issued, fully paid, and nonassessable shares of common stock, par value $0.00001, of Parent (“Parent Common Stock”) for each issued and outstanding share of Company Common Stock, with any resulting fractional shares to be rounded to the nearest whole share 1. The terms and conditions of the Merger are more fully set forth in the Merger Agreement and terms used herein and not defined herein shall have the meanings ascribed thereto in the Merger Agreement. The Board of Directors has asked us whether, in our opinion, the Merger Consideration is fair, from a financial point of view, to the holders of shares of Company Common Stock entitled to receive such Merger Consideration. In connection with rendering our opinion, we have, among other things: (i)Reviewed certain