Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 476

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 476
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 Common Stock under one of two possible scenarios. Under one scenario, the Jackson Notes converts to a certain number of Preference Shares of Company Stock, which then converts to 3.399 million shares of Parent Common Stock. Under this scenario, Jackson also receives 500,000 Inducement Shares of Company Common Stock which, at a 1.2021 exchange ratio, converts to 601,602shares of Parent Common Stock. Under the second scenario, Jackson receives a certain number of Preference Shares of Company Stock which convert to 4.0 million shares of Parent Common Stock 2. Additionally, in accordance with the Merger Agreement, Parent will pay to Company $5,500,000 at Closing for the sole purpose of repaying indebtedness. Scope On November 7, 2023, the Board of Directors of the Company (the “Board”) engaged Cornerstone Valuation as its financial advisor to evaluate certain proposed transactions involving the Company and to render a Fairness Opinion, should one of those proposed Transactions materialize. Under this engagement, we have been commissioned to prepare an independent Fairness Opinion assessing the financial adequacy of the Merger Consideration in the contemplated Merger between the Company and the Parent received by the holders of shares of Company Common Stock entitled to receive such Merger Consideration. This report was prepared exclusively for the purpose of assisting the Board in the evaluation of the proposed Merger and does not constitute a recommendation to the Company’s shareholders to accept or reject the proposed Merger. ____________ 2The management of the Company has instructed us that, for this analysis, we should assume that the exchange ratio remains constant under both scenarios at 1.2021

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Annex B-1

When preparing this Fairness Opinion, we relied on the accuracy and completeness of the information provided to us by the management of the Company and Parent. We further assume that all the material and documents provided to us were prepared professionally and represent a full and accurate assessment of the proposed Merger. In providing this Fairness Opinion, we were not asked, nor did we conduct, an audit or legal analysis. Additionally, we did not consider the tax or legal implications of the financial adequacy of the Merger Consideration at the individual investor level for the holders of the Company Common Stock. We do not express any view on, and our opinion does not address, the fairness of the proposed transaction to, or any consideration received in connection therewith by, the holders of any other securities, creditors or other constituencies of