Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 350

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 350
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 December 5, 2024, the Amendment No. 30 Modification Fee shall be waived by MidCap. On October 9, 2024, the Credit Facility Borrowers entered into Amendment No. 31 to the Credit and Security Agreement (“ Amendment No. 31”) with MidCap effective as of the same date,. Pursuant to Amendment No.31, the definition of Additional Reserve Amount (as defined in the Credit and Security Agreement) is amended and restated as follows: (i) from October 9, 2024, through November 14, 2024, the Additional Reserve Amount shall be $ 960, (ii) from November 15, 2024, through November 21, 2024, the Additional Reserve Amount shall be $ 980, (iii) from November 22, 2024, through November 28, 2024, the Additional Reserve Amount shall be $ 1,000, and (iv) from November 29, 2024, through December 5, 2024, the Additional Reserve Amount shall be $ 1,020. Additionally, pursuant to Amendment No.31, the definition of “Permitted Debt” was hereby amended by adding a new clause covering the Company’s debt obligations pursuant to that certain Settlement and Release Agreement, dated as of March 29, 2024, by and among the Company, Monroe and Pamela D. Whitaker, in the aggregate amount not to exceed $ 2,000at any time. Pursuant to Amendment No.31, in consideration for MidCap’s agreement to enter into Amendment No.31, the Borrowers have agreed to pay to MidCap a modification fee of $ 190(the “Amendment No. 31 Modification Fee”), which such Amendment No. 31 Modification Fee shall be non -refundableand fully earned as of effective date of Amendment No. 31. The Modification Fee shall constitute a portion of the Borrowers obligations pursuant to the Credit and Security Agreement and shall be secured by all Collateral (as defined in the Credit and Security Agreement). F-60

STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands, except share, per share and stated value per share)
(UNAUDITED) NOTE 4 — ACCOUNTS RECEIVABLE FINANCING (cont.) The balance of the MidCap facility as of September 28