Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 357

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 357
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, as amended) on June 30, 2023, September 30, 2023 and December 31, 2023.

NOTE 8 —LEASES

As of September 28, 2024 the Company recorded a right of use (“ROU”) lease asset of approximately $ with a corresponding lease liability of approximately $, based on the present value of the minimum rental payments of such leases. The Company’s finance leases are immaterial both individually and in the aggregate.

In January 2024, the Company entered into a new lease agreement for an office lease in Worcester, MA for a term of . This resulted in increases to right of use assets and lease liabilities of $. In February 2024, the Company entered into a new lease agreement for an office lease in East Hartford for a term of . This resulted in increases to right of use assets and lease liabilities of $.

| Lease Cost                                    |     | Classification |     | September 28, 
          2024 |   |
|:----------------------------------------------|:----|:---------------|:----|--------------:|:--|
| Operating lease cost                          |     | SG&A Expenses  |     |           852 |   |
| Other information                             |     |                |     |               |   |
| Weighted average remaining lease term (years) |     |                |     |           3.3 |   |
| Weighted average discount rate                |     |                |     |          9.96 | % |

| Future Lease Payments  |     |   |       |
|:-----------------------|:----|:--|------:|
| 2024                   |     | $ |   371 |
| 2025                   |     |   | 1,318 |
| 2026                   |     |   | 1,130 |
| 2027                   |     |   | 1,076 |
| 2028                   |     |   | 1,103 |
| Thereafter             |     |   |   676 |
|                        |     | $ | 5,674 |
| Less: Imputed Interest |     |   |   817 |
|                        |     | $ | 4,857 |
| Leases – Current       |     | $ | 1,075 |
| Leases – Non current   |     | $ | 3,782 |

F-64

STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES