SeqLL amends merger consideration: cash cut to $35M, stock portion raised to $55M

ATLANTIC INTERNATIONAL CORP.

Amendment No. 3 to Merger Agreement reduces cash consideration from $40M to $35M.
Lyneer stock consideration increased from $50M to $55M in common shares at the Capital Raise price.
Atlantic stock consideration formula updated: C variable changed from $62M to $67M.
Capital Raise still required; Closing conditions unchanged.
Transaction parties include SeqLL (SQL), Atlantic, Lyneer, IDC Technologies, and Lyneer Management.

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. 3 to the Agreement and Plan of Reorganization with IDC Technologies, Inc., Lyneer Management Holdings LLC, Atlantic Acquisition Corp, and other parties (effective 2023-10-17).

Action: amendment
Agreement: merger
Counterparty: IDC Technologies, Inc., Lyneer Management Holdings LLC, Atlantic Acquisition Corp, and other parties
Effective: 2023-10-17

Exact text from the filing

On October 17, 2023, the Company entered into Amendment No. 3 to the Agreement and Plan of Reorganization (the “Amendment”) with the other parties thereto.

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ATLANTIC INTERNATIONAL CORP. filing history →

Source: SEC EDGAR

accession 0001013762-23-005455

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