Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 513

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 513
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 $0.00001 per share and a stated value equal to $1.00 (the “ Stated Value ”). Section 3 . Reserved. Section 4 . Voting Rights . Except as otherwise provided herein or as otherwise required by law, the Preferred Stock shall have no voting rights. Section 5 . Liquidation . Upon any liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary (a “ Liquidation ”), the holders of the Preferred Stock shall be entitled to receive, on a pari passu basis with any other series of stock in parity with the Preferred Stock, distributions out of the assets legally available for such distributions. In the event the assets of the Company are insufficient to pay the amounts owed to holders of Preferred Stock and any other parity stock upon liquidation, all available assets shall be paid ratably to the holders of Preferred Stock and any parity stock, on a pari passu basis in accordance with their respective liquidation preferences, and the holders of Common Stock and any other junior stock shall receive nothing. Section 6 . Automatic Exchange . On the Closing and the consummation of the transactions contemplated pursuant to the Merger Agreement, each share of Preferred Stock shall be exchanged pursuant to the terms and conditions set forth in the Merger Agreement without any further action required by each Holder. Annex D-2 Section 7 . Certain Adjustments . a) Calculations . All calculations under this Section 7 shall be made to the nearest cent or the nearest 1/100 th of a share, as the case may be. For purposes of this Section 7, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding any treasury shares of the Corporation) issued and outstanding. b) Notice to the Holders . i. Notice to Allow Exchange by Holder . If (A) the Corporation shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Corporation shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Corporation shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Corporation shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Corporation is a party, any sale or transfer of