Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 365

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 365
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 full and final settlement, of $2 million plus interest across the following dates and amounts: $115 on May 1, 2024, $114 on June 1, 2024, $114 on July 1, 2024, $113 on August 1, 2024, $112 on September 1, 2024, and a final payment of $1,511 on October 1, 2024. There is a five -daycure period for each payment and there is a Confession of Judgement in favor of the defendant for the full amount of the original Earnout plus interest, in the event of non -compliance. On October 9, 2024, the Company entered into Amendment No. 1 to the Settlement and Release Agreement (“Amendment No.1”) to pay $1,500 plus interest. The Company agreed to make payments on the following dates and in the following amounts: $511 on October 9, 2024, $107 on November 1, 2024, $107 on December 1, 2024, $106 on January 1, 2025, and a final payment of $705 on February 1, 2025. In accordance with Amendment, No.1, payments were made on October 9, 2024 and November 1, 2024. Pursuant to the Headway Acquisition that closed on May 18, 2022, the purchase price includes an earnout payment totaling up to $5,000 of earn out provision. Upon the attainment of certain trailing twelve -month(“TTM”) EBITDA achievements the Company will pay to the Headway seller a contingent payment in accordance with the following: Adjusted EBITDA of $0 or less than $0 = no Contingent Payment Adjusted EBITDA of $500 x 2.5 multiple = $1,250 Contingent Payment Adjusted EBITDA of $1,000 x 2.5 multiple = $2,500 Contingent Payment Adjusted EBITDA of $1,800 x 2.5 multiple = $4,500 Contingent Payment Adjusted EBITDA of $2,000 or more x 2.5 multiple = $5,000 Contingent Payment F-72

STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS