SeqLL amends merger agreement with Lyneer, reduces stock consideration to $50M

ATLANTIC INTERNATIONAL CORP.

Lyneer Stock Consideration cut from $60M to $50M; shares based on offering price.
Atlantic Stock Consideration formula revised: A lowered to $150M (from $225M), C to $62M (from $72M).
Amendment No. 2 entered on Oct 5, 2023; merges Atlantic Merger Sub and SeqLL Merger Sub into Lyneer.
Merger structure unchanged: Lyneer becomes wholly owned subsidiary of SeqLL.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ATLANTIC INTERNATIONAL CORP. amended Amendment No. 2 to the Agreement and Plan of Reorganization with SeqLL, Inc., SeqLL Merger LLC, Atlantic Acquisition Corp, Atlantic Merger LLC, Lyneer Investments, LLC, IDC Technologies, Inc., and Lyneer Management Holdings LLC (effective 2023-10-05).

Action: amendment
Agreement: merger
Counterparty: SeqLL, Inc., SeqLL Merger LLC, Atlantic Acquisition Corp, Atlantic Merger LLC, Lyneer Investments, LLC, IDC Technologies, Inc., and Lyneer Management Holdings LLC
Effective: 2023-10-05

Exact text from the filing

On October 5, 2023, the Company entered into Amendment No. 2 to the Agreement and Plan of Reorganization (the “Amendment”) with the other parties thereto.

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Source: SEC EDGAR

accession 0001013762-23-002852

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