Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 487

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 487
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 |   $3.19 |
| Implied Price Per Share (Diluted):                                 |   $1.92 |     | Implied Price Per Share (Diluted):                             |   $3.10 |

Sensitivity Analysis In the tables below, we investigate how changes in the weighted average cost of capital and terminal growth rate (PGM terminal value) or terminal EBITDA multiple (exit EMM terminal value) impact our base fully -dilutedshare price estimates. As shown in the tables, plausible fully -dilutedshare price estimates range from $1.38 to $3.09 assuming a perpetuity growth Terminal Value and from $2.29 to $4.20 assuming an exit multiple Terminal Value. For each of the implied share price calculation approaches (perpetuity growth and exit multiple Terminal Value), we select the value estimates we deem reasonable. Atlantic International Corp. Share Price Estimates Under Various Cost of Capital and Terminal Growth Rate Assumptions and a Perpetuity Growth Terminal Value

|                 | Maximum | $3.09 |
| 75th Percentile |   $2.50 |       |
| Mean            |   $2.08 |       |
| Median          |   $1.92 |       |
| 25th Percentile |   $1.68 |       |
| Minimum         |   $1.38 |       |

| Value of Atlantic International Corp. Common Stock |

Annex B-21

Atlantic International Corp. - Discounted Cash Flow Analysis (Perpetuity Growth Terminal Value)

| ($ in thousands, except per share value) |     Min |       25th 
 Percentile |  Median |       75th 
 Percentile |      Max |
| Enterprise Value                         | 150,055 |    164,811 | 177,088 |    205,873 |  235,650 |
| Plus: Cash & Equivalents                 |     439 |        439 |     439 |        439 |      439 |
| Less: Debt                               | -81,257 |    -81,257 | -81,257 |    -81,257 |  -81,257 |
| Total Common Equity Value:               | $69,238 |    $83,993 | $96,271 |   $125,056 | $154,833 |
| Shares Outstanding (Basic)               |  48,729 |     48,729 |  48,729 |