Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 35

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 35
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 defined in the Merger Agreement) into five million (5,000,000) shares of Series H Preferred Stock and waive any interest/dividends or other payments due from Staffing 360 related to the Series H Preferred Stock; and (ii) lock -upagreements such that the Merger Consideration for all of the shares of Series H Preferred Stock are; (A) subject to a lock up for the 6 months after closing of the Merger as follows; (B) 1,750,000shares of Atlantic common stock are subject to a lock -upfor the period starting on 6 months after closing of the Merger until 9 months after closing of the Merger; (C) 875,000shares of Atlantic common stock are subject to a lock -upfor the period starting on 9 months after closing of the Merger until 12 months after closing of the Merger; and (D) the lock -upshall terminate 12 months after closing of the Merger and (E) the lock -upshall not apply to the extent shares of Atlantic common stock must be sold to pay any taxes from such applicable holder; •a signed agreement to be mutually agreed to by the parties whereby Staffing 360 shall issue to Chapel Hill Partners 100,000shares of Staffing 360 common stock on terms to be mutually agreed to by the parties; •a closing balance sheet certified by Staffing 360’s CEO; •amended employment agreements, signed by Brendan Flood and Alicia Barker as President and Executive Vice President, respectively; •all minute books, stock books, ledgers and registers, corporate seals, if any, and other corporate records relating to the organization, ownership and maintenance of Staffing 360 and other Company Entities (as defined in the Merger Agreement), if not already located on the premises of Staffing 360; and •certain other customary certificates duly executed by the appropriate officers of Staffing 360. (b)Staffing 360 shall have delivered all other documents and other instruments as the Company may reasonably request in connection with the transactions contemplated by this Agreement. The obligations of Staffing 360 to effect the Merger and consummate the other transactions contemplated by the Merger Agreement is subject to the satisfaction or waiver at or prior to closing of each of the following additional conditions: •At or prior to the closing of the Merger, Atlantic International shall execute and/or deliver, or cause to be delivered, all of the following: (i) certificates duly