Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 217

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 217
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. Legacy Staffing 360 Warrants At the effective time of the Merger, each outstanding warrant to purchase shares of common stock of Staffing 360 that has not been exercised prior to the closing of the Merger will be assumed by Atlantic International, subject to certain terms contained in the Merger Agreement, and become a warrant to purchase a number of shares of the Atlantic International common stock equal to the number of shares of Staffing 360 common stock underlying such warrant multipliedby the Exchange Ratio, and the exercise price for each share of Atlantic International common stock underlying an assumed warrant to purchase Staffing 360 common stock will be equal to the exercise price per share of the warrant to purchase Staffing 360 common stock in effect immediately prior to the completion of the Merger divided by the Exchange Ratio, rounded up to the nearest whole cent. The following is a description of the material terms of the classes of warrants of Atlantic International following the consummation of the Merger. However, share amounts underlying the warrants and related exercise price disclosed below do not reflect the application of the Exchange Ratio, which is necessary to determine the number of shares of Atlantic International common stock which the holder would be entitled to receive as a result of the Merger. Following the consummation of the Merger, Atlantic International will have warrants to purchase up to 116,264shares of Atlantic International common stock in connection with outstanding Staffing 360 warrants described below to be assumed by Atlantic International at the effective time of the Merger. Jackson Warrants In connection with the Third Amended and Restated Note Purchase Agreement, dated as of October27, 2022, Staffing 360 (i) issued to Jackson Investment Group, LLC (“Jackson”) five year warrants to purchase up to an aggregate of 2,434shares of Staffing 360 common stock at an exercise price of $30.60 per share, which expire on October27, 2027, and (ii) amended certain existing warrants held by Jackson to purchase up to an aggregate of 1,510shares of common stock such that the exercise price was reduced from $600.00 per share to $30.60 per share, and the expiration date of such warrant was extended from January26, 2026 to October27, 2027. December 2021 Offerings On December23, 2020, and December30, 2020, Staffing 360 entered into an underwriting agreement and a securities purchase agreement in an underwritten offering and a registered direct offering,