Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 363

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 363
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2026. The Warrant Amendment Agreements reduced the exercise price of the Original Warrants to $ per share and extended the expiration date to , the date that is five and one-half years following the closing of the July 2022 Private Placement. The Company calculated an incremental fair value of $ by calculating the excess, of the fair value of the modified over the fair value of that instrument immediately before it is modified. This increase in fair value was recorded in additional paid in capital.

In connection with the Third A&R Agreement, the Company (i) issued to Jackson five year warrants to purchase up to an aggregate of shares of common stock at an exercise price of $ per share, which expire on October 27, 2027, and (ii) amended certain warrants held by Jackson to purchase up to an aggregate of shares of common stock such that the exercise price was reduced from $ per share to $ per share, and the expiration date of the warrant was extended from to , which resulted in a fair value adjustment of $. These warrants were recorded as additional debt discount which will be amortized over the term of the Jackson Notes using the effective interest method.

In connection with the February 2023 Offering, the Company entered into the February 2023 Purchase Agreement with the Investor for the issuance and sale, in a best efforts public offering, of (i) Units, each consisting of one share of the Company’s common stock, and one February 2023 Warrant, and (ii) Pre-Funded Units, each consisting of one February 2023 Pre-Funded Warrant to and one February 2023 Warrant. The public offering price was $ per Unit and $ per Pre-Funded Unit. The February 2023 Offering closed on February 10, 2023. In connection with the February 2023 Offering, the investor entered into the February 2023 Warrant Amendment Agreement with the Company to amend the exercise price of certain existing warrants to purchase up to an aggregate of shares of common stock that were previously issued to the Investor, with an exercise price of $ per share and an expiration date of . Pursuant to the Warrant Amendment Agreement, the amended warrants have a reduced

F-67

STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands, except share, per share and stated value per share)
(UNAUDITED) NOTE 9 — STOCKHOLDERS’