Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 477

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 477
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 the Company, nor as to the fairness of the amount or nature of any compensation to be paid or payable to any of the officers, directors or employees of the Company, or any class of such persons, whether relative to the Merger Consideration or otherwise.

| Introduction |

Annex B-2

SOURCES OF INFORMATION In preparing this Fairness Opinion, we relied upon the following information: •The Agreement and Plan of Merger by and among Atlantic International Corp., A36 Merger Sub Inc., and Staffing 360 Solutions, Inc. as of October 2024 •Annual Reports on Form 10 -Kof Staffing 360 Solutions for the five fiscal years ended December30, 2023 •Preliminary Prospectuses of Atlantic International Corp. •Certain Quarterly Reports on Form 10 -Qof Staffing 360 Solutions and Atlantic International Corp. •Certain proxy statements from Staffing 360 Solutions and Atlantic International Corp. •Certain other publicly available communications from Staffing 360 Solutions and Atlantic International corp. to their respective stockholders •Email and/or telephone correspondence with Brendan Flood, Chairman and Chief Executive Officer of Staffing 360 Solutions, Inc. and Alicia Barker, Chief Operating Officer of Staffing 360 Solutions, Inc. •Internal financial analyses and forecasts for Staffing 360 Solutions and Atlantic International Corp., prepared by Atlantic International Corp. and provided to us by Staffing 360 Solutions, Inc., related to the historical and forecasted performance of the respective entities on a stand -alonebasis •Other non -publicinternal documentation relating to the historical and forecasted performance of Staffing 360 Solutions, Inc., the historical and projected capitalization of Staffing 360 Solutions, Inc., and the historical and projected capitalization of Atlantic International Corp. •The U.S. Security Exchange Commission’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system •Standard & Poor’s Capital IQ and Capital IQ Pro databases •IBISWorld •Kroll Cost of Capital Calculator

| Sources of Information |

Annex B-3

CURRENT MARKET PRICES OF COMPANY AND PARENT AND POST TRANSACTION CAPITALIZATION Capitalization Table of the Company and the Exchange Ratio In the tables below, we provide the capitalization table of the Company, post -Merger, under both contemplated scenarios for the conversion of the Jackson Note:

| Option One                                      |           |
| Q2 10Q shares outstanding as at August 9th 2024 |   907,921 |
| LTIP Change of Control                          |