Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 472

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 472
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as defined in the Merger Agreement), will be converted into the right to receive the Merger Consideration. “Merger Consideration” means a fixed exchange ratio of 1.2021 validly issued, fully paid, and nonassessable shares of common stock, par value $0.00001, of Parent (“Parent Common Stock”) for each issued and outstanding share of Company Common Stock, with any resulting fractional shares to be rounded to the nearest whole share 1. The terms and conditions of the Merger are more fully set forth in the Merger Agreement and terms used herein and not defined herein shall have the meanings ascribed thereto in the Merger Agreement. The Board of Directors has asked us whether, in our opinion, the Merger Consideration is fair, from a financial point of view, to the holders of shares of Company Common Stock entitled to receive such Merger Consideration. In connection with rendering our opinion, we have, among other things: (i)Reviewed certain publicly available business and financial information relating to the Company and the Parent that we deemed to be relevant, including publicly available research analysts’ estimates; (ii)Reviewed certain non -publichistorical financial statements and other non -publichistorical and operating data related to the Company and Parent, provided to us by the management of the Company. (iii)Reviewed certain non -publicprojected financial data relating to the Parent and Company, prepared by the Parent and provided to us by the management of the Company. (iv)Reviewed the reported prices and the historical trading activity of the Company and Parent common stock. (v)Compared the financial performance of the Company and its stock market trading multiples with those of other certain other publicly traded companies that we deemed relevant. (vi)Identified certain historical M&A transactions that we deemed relevant for the purpose of obtaining implied pricing multiples. ____________ 1In instances where our analyses require the market value of Parent Common Stock to analyze the fairness of the Merger Consideration, we use the October 25, 2024 closing stock price of one share of Parent Common Stock, $4.91.

(vii) Reviewed a draft of the Merger Agreement, provided to us by the management of the Company, on October 25, 2024. (viii) Performed analyses and examinations, consistent with generally accepted business valuation principles, as we deemed appropriate. For purposes of our analysis and opinion, we have assumed and relied upon, without undertaking any independent verification of, the accuracy and