Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 224

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 224
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 that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests. Preferred Stock As the date of this proxy statement/prospectus, we have no shares of our preferred stock outstanding, but our board of directors is authorized, without further action by the stockholders, to create and issue one or more series of preferred stock and to fix the rights, preferences and privileges thereof. Among other rights, our board of directors may determine, without further vote or action by our stockholders: •the number of shares constituting the series and the distinctive designation of the series; •the dividend rate on the shares of the series, whether dividends will be cumulative, and if so, from which date or dates, and the relative rights of priority, if any, of payment of dividends on shares of the series; •whether the series will have voting rights in addition to the voting rights provided by law and, if so, the terms of the voting rights; •whether the series will have conversion privileges and, if so, the terms and conditions of conversion; •whether or not the shares of the series will be redeemable or exchangeable, and, if so, the dates, terms and conditions of redemption or exchange, as the case may be; 138 •whether the series will have a sinking fund for the redemption or purchase of shares of that series, and, if so, the terms and amount of the sinking fund; and •the rights of the shares of the series in the event of our voluntary or involuntary liquidation, dissolution or winding up and the relative rights or priority, if any, of payment of shares of the series. Although we presently have no plans to issue any shares of preferred stock upon completion of the Merger, any future issuance of shares of preferred stock, or the issuance of rights to purchase preferred shares, could, among other things, decrease the amount of earnings and assets available for distribution to the holders of common stock or could adversely affect the rights and powers, including voting rights, of the holders of the common stock. 139 LEGAL MATTERS Davidoff Hutcher & Citron LLP will pass upon the validity of the shares of Atlantic International common stock offered hereby. Certain U.S. federal income tax consequences relating to the transactions will be passed upon for Staffing 360 by Haynes and Boone, LLP. EXPERTS The financial statements of Lyneer Investments, LLC and subsidiaries as of and for the periods ended December 31, 2023 and 2022 incorporated