Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 51

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 51
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 International and Staffing 360 currently expect to evaluate the materiality of any waiver and its effect on Atlantic International and Staffing 360 stockholders, as applicable, in light of the facts and circumstances at the time to determine whether any amendment of this proxy statement/prospectus or any re -solicitationof proxies or voting cards is required in light of such waiver. Any determination whether to waive any condition to the Merger or as to re -solicitingstockholder approval or amending this proxy statement/prospectus as a result of a waiver will be made by Atlantic International and Staffing 360, as applicable, at the time of such waiver based on the facts and circumstances as they exist at that time. Each of Atlantic International and Staffing 360 will incur significant transaction and Merger-related costs in connection with the Merger. Atlantic International and Staffing 360 have each incurred and expect to incur a number of non -recurringcosts associated with Atlantic International’s acquisition of Staffing 360, as well as transaction fees and other costs related to the Merger. These costs and expenses include fees paid to financial, legal and accounting advisors, facilities and systems consolidation costs, severance and other potential employment -relatedcosts, filing fees, printing expenses and other related charges. Some of these costs are payable by Atlantic International or Staffing 360, regardless of whether the Merger is completed. While both Atlantic International and Staffing 360 have assumed that certain expenses would be incurred in connection with the Merger and the other transactions contemplated by the Merger Agreement, there are many factors beyond their control that could affect the total amount or the timing of any implementation expenses. Staffing 360 warrants and options could increase the number of shares eligible for future resale in the public market and result in dilution to the stockholders. As of December 12, 2024, Staffing 360 had outstanding warrants exercisable for 98,876shares of Staffing 360 common stock with a weighted average exercise price of $240.77 per share and options exercisable for 5,118shares of Staffing 360 common stock with a weighted average exercise price of $498.53 per share. At the effective time of the Merger, (i)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