Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 492

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 492
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 Common Stock using the DCF approach, we estimated the annual forecasted earnings over a five year forecast period and calculated the present value of those forecasted cash flows as well as the terminal value as of October 25, 2024. The sum of all of these indicates an initial estimate of the enterprise value of the Company. That is, it includes the value of the equity, the net debt, and all other claimants. To obtain an equity value from an enterprise value, one must subtract out the value of the debt and other claimants (if any) and add in the value of the cash and marketable securities. As of the valuation date, the Company had $48.410 million in interest -bearingdebt, and cash of $813 thousand. Following this procedure, our base estimate of the fully -dilutedshare value of Company Common Stock using the perpetuity growth method and exit EBITDA multiple method was $1.05 and $1.98, respectively. The following table shows our calculations. -- Table on Following Page --

| Value of Staffing 360 Solutions, Inc. Common Stock |

Annex B-10

| ($ in thousands, except per share value)        | Historical |         |         |     | Estimated |         |         |         |         |
|                                                 |      2021A |   2022A |   2023A |     |     2024E |   2025E |   2026E |   2027E |   2028E |
| Revenue:                                        |    135,398 | 184,884 | 190,926 |     |   190,247 | 199,760 | 219,736 | 235,117 | 251,575 |
| % Growth                                        |            |   36.5% |    3.3% |     |    (0.4)% |    5.0% |   10.0% |    7.0% |    7.0% |
| EBITDA:                                         |      4,692 |   7,647 |   4,451 |     |     4,049 |   6,743 |   8,789 |  10,580 |  13,082 |
| % Margin                                        |       3.5% |    4.1% |    2.3% |     |      2