Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 202

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 202
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 “S360”). The Acquisition will be accounted for as a business combination under Accounting Standards Codification 805 — Accounting for Business Combinations (or “ASC 805) for financial reporting purposes. The unaudited pro forma condensed combined financial statements present the pro forma effects of the Acquisition for purposes of this section, and other related events as described in Note 1 to the accompanying notes to the unaudited pro forma condensed combined financial statements. The unaudited pro forma condensed combined financial statements were prepared in accordance with GAAP and pursuant to Article 11 of SEC Regulation S -Xand present the pro forma financial position and results of operations of the combined companies based upon the historical information after giving effect to the Merger and the adjustments described in these footnotes.

119 The unaudited pro forma condensed combined balance sheet is presented as if the Merger had occurred on September 30, 2024 and the pro forma condensed combined statement of operations is presented as if the Merger had occurred on January 1, 2023. The unaudited pro forma condensed combined financial information has been prepared using the following assumptions with respect to the Merger and related transactions: We have included the conversion of S360 debt and $5million of the earnout liability into S360 preferred shares prior to the acquisition and all S360 preferred shares (issued and outstanding and hypothetically issued) in exchange for stock in the Company (part of the Acquisition). •We have excluded any post -Acquisitioncompensation associated with any potential awards to be granted; and •An estimate of acquired intangible assets including goodwill allocated based on available information and any associated amortization of intangible assets during the pro forma periods. If actual facts differ from these assumptions, then the amounts and shares outstanding in the unaudited pro forma condensed combined financial information will be different. As a result of the foregoing, the transaction accounting adjustments are preliminary and subject to change as additional information becomes available and additional analysis is performed. The transaction accounting adjustments have been made solely for the purpose of providing the pro forma financial statements presented below. Any increases or decreases in the fair values of assets acquired and liabilities assumed upon completion of the final valuation related to the Business Combinations will result in adjustments to the pro forma balance sheet and if applicable, the pro forma statement of operations. The final transaction accounting adjustments described herein may be materially different from the preliminary amounts previously reflected in the pro forma financial statements. The unaudited pro forma condensed combined financial statements and accompanying notes as of September 30, 202