Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 34

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 34
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 approval of the Merger Agreement from Staffing 360 stockholders at a special meeting of stockholders and the transactions contemplated therein and in connection therewith; •written resignations of the members of the Staffing 360 Board of Directors, effective as of the closing of the Merger, executed by each such director; •the Certificate of Merger, in the form attached as Exhibit A to the Merger Agreement, duly executed by an authorized officer of Staffing 360; •a certificate substantially in the form described in Treasury Regulations Section 1.1445 -2(c)(3), together with evidence that Staffing 360 has provided notice to the Internal Revenue Service in accordance with the provisions of Treasury Regulations Section 1.897 -2(h)(2), duly executed by Staffing 360; a signed agreement between the Internal Revenue Service and Staffing 360 concerning the terms of settlement mutually agreeable to Atlantic International; •a signed agreement between the Internal Revenue Service and Staffing 360 concerning the terms of settlement mutually agreeable to Atlantic International; •a signed settlement agreement with Jackson Investment Group LLC (“Jackson”) converting Staffing 360’s indebtedness with the appropriate Jackson party whereby: (i) all interest accrued and payable to appropriate Jackson party will be waived or forgiven and (ii) the principal amount of the Loan will be converted into 5,600,000shares of Series I Preferred Stock. In the event the average closing price of Atlantic Common Stock over the five (5) trading days immediately preceding the date of the Closing is below $5.00, members of the management of Staffing 360 and Atlantic and Atlantic 6 itself shall issue to Jackson such number of additional shares of Atlantic Common Stock equal to (i) 5,600,000shares multiplied by the quotient of $5.00 per share and the Average Closing Price (as defined herein) minus (ii) 5,600,000. Additionally, pursuant to the First Amendment and further agreement between the applicable parties, Jackson shall enter into a lock -upagreement such that the Merger Consideration for all of the Series I Preferred Stock are subject to a lock up period for the one year after the closing of the Merger, provided, however, that 600,000shares of Merger Consideration shall be freely tradable following the closing of the Merger; •signed agreements to be mutually agreed to by the parties whereby the applicable parties shall: (i) convert any amounts owed in Earned Contingent Cash Payment (as