Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 115

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 115
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 by higher interest rates on the revolving credit facility on a year -over-yearbasis, an increase in the rates on the term, seller and earnout notes due to amendments in May 2023 and August 2023, and, new earnout notes issued in January 2024. Other Expense Other expense for the three and nine months ended September 30, 2024 and 2023 were as follows:

|               |     | Three Months Ended 
 September 30,      
 2024               |         |     | 2023 |   |     | Nine Months Ended 
 September 30,     
 2024              |            |     | 2023 |   |
|:--------------|:----|:-------------------|--------:|:----|:-----|:--|:----|:------------------|-----------:|:----|:-----|:--|
| Other expense |     | $                  | 285,483 |     | $    | — |     | $                 | 15,893,220 |     | $    | — |

Other expense for the three months ended September 30, 2024 related to stock compensation expense for third parties as advisors to the Company for RSUs that were granted on the date of the Merger. Other expense for the nine months ended September 30, 2024 related to accrued amounts pertaining to a potential settlement for legacy stockholders and stock compensation expense for to third parties as advisors to the Company for RSUs that were granted on the date of the Merger. Income Tax Benefit Provision for income taxes for the three and nine months ended September 30, 2024 and 2022 were as follows:

|                    |     | 2024 | Three Months Ended 
      September 30, |     | 2023 |           |     | 2024 | Nine Months Ended 
     September 30, |     | 2023 |           |
|:-------------------|:----|:-----|-------------------:|:----|:-----|----------:|:----|:-----|------------------:|:----|:-----|----------:|
| Income tax benefit |     | $    |          1,220,072 |     | $    | 1,346,969 |     | $    |        19,732,646 |     | $    | 3,791,387 |

Income tax benefit for the quarters ended September 30, 2024 and 2023