Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 133

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 133
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,472,564 and $10,494,818, respectively. For the three and nine months ended September 30, 2023 total interest expense totaled $4,887,247 and $12,610,280, respectively. Total cash paid for interest for the three and nine months ended September 30, 2024 totaled $1,386,833 and $5,437,928, respectively, and $3,881,382 and $9,021,326 for the three and nine months ended September 30, 2023, respectively, with the remaining portion of the interest expense as non -cashdue to the PIK interest and change in values of the accrued interest liability and amortization of deferred financing costs. 64

Assessment of Liquidity Position Lyneer has assessed its liquidity position as of September 30, 2024 and December 31, 2023. As of September 30, 2024 and December 31, 2023, the total committed resources available were as follows:

|                                          |     |   | September 30, 
          2024 |   |     |   | December 31, 
         2023 |   |
|:-----------------------------------------|:----|:--|--------------:|:--|:----|:--|-------------:|:--|
| Cash and Cash Equivalents                |     | $ |     1,397,760 |   |     | $ |    1,352,927 |   |
| Committed Liquidity Resources Available: |     |   |               |   |     |   |              |   |
| Short-term Revolving Credit Facility     |     |   |   (11,682,375 | ) |     |   |  (22,518,585 | ) |
| Total Committed Resources Available      |     | $ |   (10,284,615 | ) |     | $ |  (21,165,658 | ) |

As noted above under the caption Liquidity and Capital Resources,pursuant to the Forbearance Agreement, following the payment of the Merger Note, Lyneer intends to replace its obligations under the Revolver with a new revolving credit facility with a borrowing capacity of up to $60,000,000. Lyneer believes the borrowing capacity under such new credit facility, its cash flow from operations and the available net proceeds from the Merger will provide sufficient liquidity and capital resources to conduct its planned operations