Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 483

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 483
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,831 |

| Exit Multiple Method  |        |
| Exit EBITDA Multiple: |   5.6x |
| Terminal Year EBITDA: | 13,082 |
| Terminal Value (EMM)  | 73,520 |

Midyear Convention A common assumption in the normal discounting process is that cash flows are realized at the end of the period. This is not always the case since sales occur over the course of a period and expenses occur over the course of a period. Thus, the benefit stream is then available during the period and not only at the end. To implement this logic, analysts can use what is called the “midyear convention”. The midyear convention calculates the present value of a benefit stream using arithmetic that presumes half is available before the midyear and half is available after the midyear. We applied the midyear convention to better reflect the Company’s actual realization of cash flows. Indicated Value To estimate the fully -dilutedshare value of Company 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 |   202