Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 475

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 475
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 have entered into that certain Agreement and Plan of Merger, dated as of November 1, 2024 (the “ Merger Agreement ”). WHEREAS, the Parties desire to amend the terms and conditions of the Merger Agreement to, among other things: (i) clarify the treatment of certain preferred stock of the Company; and (ii) removal of dissenter and appraisal rights consistent with Delaware Law. NOW, THEREFORE , for and in consideration of the mutual covenants contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each Party hereto, the Parties agree as follows: 1. Amendment to Agreement . The Agreement is hereby amended as follows: a.Recital (D) of the Merger Agreement is deleted in its entirety and replaced with the following: “ D.Upon completion of the Merger, each share of the issued and outstanding common stock of the Company (“Company Common Stock”) immediately prior to the Effective Time, other than Excluded Shares, will be canceled and converted into the right to receive the Merger Consideration. b.Section 2.2(a) of the Merger Agreement is deleted in its entirety and replaced with the following: “ (a) Conversion of Shares . Each: (i) share of Company Common Stock; (ii) share of Series H Preferred Shares; and (iii) share of Series I Preferred Shares issued and outstanding immediately prior to the Effective Time (each a “Share” and collectively, the “ Shares ”), other than any Excluded Shares, shall be cancelled and shall cease to exist and shall be converted automatically into the right to receive the Merger Consideration. “ Merger Consideration ” means (i) a number of shares of validly issued, fully paid and nonassessable shares of common stock of Atlantic, par value of $.00001 per share (the “ Atlantic Common Stock ”), equal to their respective Exchange Ratio, with any resulting fractional shares to be rounded to the nearest whole share.” c.Section 2.2(d) of the Merger Agreement is deleted in its entirety and replaced with the following: “(d) Exchange Agent . On or prior to the Closing Date, Atlantic will select a transfer agent or another reputable bank or trust company reasonably acceptable to Company to act as exchange agent in connection with the Merger (the “ Exchange Agent ”). Promptly after the Effective Time, Atlantic shall cause each person who was, at the Effective Time, a holder of record of Shares entitled to receive the