Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 376

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 376
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 listing on Nasdaq. The Company requested an appeal of the Staff’s determination, and a hearing before the Nasdaq Hearings Panel (the “Panel”) was held on October 3, 2024. On October 8, 2024, the Company received a letter from the Panel indicating that the Panel determined to grant the Company’s request to continue its listing on Nasdaq, subject to certain milestones being met on November 1, 2024, and December 31, 2024. Whittaker Settlement On October 9, 2024, the Company entered into Amendment No. 1 to pay $ 1,500plus interest. The Company agreed to make payment on the following dates and in the following amounts: $ 511on October 9, 2024, $ 107on November 1, 2024, $ 107on December 1, 2024, $ 106on January 1, 2025, and a final payment of $ 705on February 1, 2025. In accordance with the Amendment No.1, payments were made on October 9, 2024 and November 1, 2024. Amendment No. 31 with MidCap On October 9, 2024, we entered into Amendment No. 31 to the Credit and Security Agreement with MidCap and the lenders party thereto from time to time. Pursuant to Amendment No.31, the definition of Additional Reserve Amount (as defined in the Credit and Security Agreement) was amended and restated as follows: (i) from October 9, 2024, through November 14, 2024, the Additional Reserve Amount shall be $ 960,000, (ii) from November 15, 2024, through November 21, 2024, the Additional Reserve Amount shall be $ 980,000, (iii) from November 22, 2024, through November 28, 2024, the Additional Reserve Amount shall be $ 1,000,000, and (iv) from November 29, 2024, through December 5, 2024, the Additional Reserve Amount shall be $ 1,020,000. Additionally, pursuant to Amendment No.31, the definition of “Permitted Debt” is hereby amended by adding a new clause covering our debt obligations pursuant to that certain Settlement and Release Agreement, dated as of March 29, 2024, by and among us,