Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 182

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 182
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 applicable parties, Jackson shall enter into a lock -upagreement such that the Merger Consideration for all of the Series I Preferred Stock are subject to a lock up period for the one year after the Closing, provided, however, that 600,000shares of Merger Consideration shall be freely tradable following the Closing. Treatment of Staffing 360 Options At the Effective Time of the Merger, each outstanding option to purchase Staffing 360 common stock that is outstanding and has not been exercised prior to the closing of the Merger, whether or not vested, will be assumed by Atlantic International, subject to certain terms contained in the Merger Agreement, and become an option to purchase a number of shares of the Atlantic International common stock equal to the number of shares of Staffing 360 common stock underlying such option multipliedby the Exchange Ratio, and the exercise price for each share of Atlantic International common stock underlying an assumed option to purchase Staffing 360 common stock will be equal to the exercise price per share of the option to purchase Staffing 360 common stock in effect immediately prior to the completion of the Merger dividedby the Exchange Ratio, rounded up to the nearest whole cent. Treatment of Staffing 360 Warrants At the Effective Time of the Merger, each outstanding warrant to purchase shares of common stock of Staffing 360 that has not been exercised prior to the closing of the Merger will be assumed by Atlantic International, subject to certain terms contained in the Merger Agreement, and become a warrant to purchase a number of shares of the Atlantic International common stock equal to the number of shares of Staffing 360 common stock underlying such warrant multipliedby the Exchange Ratio, and the exercise price for each share of Atlantic International common stock underlying an assumed warrant to purchase Staffing 360 common stock will be equal to the exercise price per share of the warrant to purchase Staffing 360 common stock in effect immediately prior to the completion of the Merger divided by the Exchange Ratio, rounded up to the nearest whole cent. Exchange Ratio The Merger Agreement has set a fixed Exchange Ratio of (i) 1.202, in the case of Staffing 360 common stock, (ii) 0.25, in the case of Series H Preferred Stock, and (iii) 1.00, in the case of Series I Preferred Stock. Exchange Procedures On or prior to the closing date of the Merger, Atlantic International will select its transfer agent or another reputable bank or trust company reasonably acceptable to Staffing 360