Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 29

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 29
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 H Preferred Stock held by such holder is convertible with respect to any and all matters presented to the common stockholders for their action or consideration at the special meeting. Assuming a quorum is present at the Staffing 360 special meeting, approval the Merger Agreement Adoption Proposal requires the affirmative vote of the holders of a majority of the shares outstanding and entitled to vote, and, if presented, the Adjournment Proposal, requires the affirmative vote of the holders of a majority of the shares entitled to vote on each such proposal represented in person or by proxy at the special meeting. Abstentions will have the effect of a vote “AGAINST” such proposal, and broker non -voteswill have no effect on the proposals. The Merger and the Merger Agreement (Pages 89 and 101) The terms and conditions of the Merger are contained in the Merger Agreement, a copy of which is attached as Annex Ato this proxy statement/prospectus. You are encouraged to read the Merger Agreement carefully and in its entirety, as it is the primary legal document that governs the Merger. Pursuant to the terms of the Merger Agreement, Merger Sub will merge with and into Staffing 360, referred to as the Merger, with Staffing 360 as the surviving corporation in the Merger. Following the Merger, Staffing 360 common stock will be delisted from the Nasdaq Capital Market, deregistered under the Exchange Act and will cease to be publicly traded. Treatment of Staffing 360 Common Stock, Series H Preferred Stock and Series I Preferred Stock; Merger Consideration (Page 101) At the effective time, by virtue of the Merger and without any further action on the part of Atlantic International, Merger Sub, Staffing 360, or any stockholder of Staffing 360, each (i) share of Staffing 360 common stock, (ii) share of Series H Preferred Stock and (iii) share of Series I Preferred Stock that is issued and outstanding immediately prior to the Effective Time (other than Excluded Shares) will be converted automatically into the right to receive a number of validly issued, fully paid and non -assessableshares of Atlantic International common stock, par value of $.00001 per share, equal to their respective Exchange Ratio, which shares shall equal an aggregate of 4.9% of the issued and outstanding shares of the combined company (the “Merger Consideration”). Fractional shares will be rounded to the nearest whole