Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 114

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 114
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 |
|:---------------------------------|:----|:-------------------|:--|:----|:-----|:--|:----|:------------------|-----------:|:----|:-----|:--|
| Advisory fees paid in the merger |     | $                  | — |     | $    | — |     | $                 | 43,000,000 |     | $    | — |

The stockholders of Atlantic Acquisition Corp. were issued an aggregate of 18,220,338shares of Company’s common stock at a market value of $2.36 per share, or $43,000,000 in the aggregate, on the date of the Merger. Interest Expense Interest expense for the three and nine months ended September 30, 2024 and 2023 were as follows:

|                  |     | 2024 | Three Months Ended 
      September 30, |     | 2023 |           |     | 2024 | Nine Months Ended 
     September 30, |     | 2023 |            |
|:-----------------|:----|:-----|-------------------:|:----|:-----|----------:|:----|:-----|------------------:|:----|:-----|-----------:|
| Interest expense |     | $    |          1,472,564 |     | $    | 4,887,247 |     | $    |        10,494,818 |     | $    | 12,610,280 |

54

Interest expense for the quarters ended September 30, 2024 and 2023 was $1,472,564 and $4,887,247, respectively. The decrease of $3,414,683, or 69.9%, in the quarter ended September 30, 2024 compared to the quarter ended September 30, 2023 was due to the Company deconsolidating the joint and several debt obligations as of the Merger date. Interest expense for the nine months ended September 30, 2024 and 2023 was $10,494,818 and 12,610,280, respectively. The decrease of $2,115,462, or 16.8%, in the nine months ended September 30, 2024 compared to the nine months ended September 30, 2023 was attributed to the Company deconsolidating the joint and several debt obligations as of the Merger date, partially offset