--- schema_version: "secwatch.filing_event.v1" accession: "0001213900-23-051365" form_type: "8-K" ticker: "ATLN" cik: "0001605888" company_name: "ATLANTIC INTERNATIONAL CORP." filed_at: "2023-06-23T23:59:59+00:00" generated_at: "2026-06-13T18:03:38.800881+00:00" event_type: "regulatory" sentiment: "negative" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # SeqLL receives Nasdaq delisting notice; amends merger consideration formulas ## Summary - Nasdaq notified SeqLL on June 20, 2023 that it fails to meet $1.00 bid price requirement; trading suspension set for June 29 unless appeal is filed. - Company intends to appeal and effect a reverse stock split to regain compliance; hearing typically scheduled in 30-45 days. - Amended Merger Agreement: Lyneer stock consideration now $60M divided by Offering Price; Atlantic consideration formula revised. - Merger termination date extended from July 31 to August 31, 2023. - Delisting could impair ability to consummate merger and raise capital; stock price may suffer materially. ## SEC filing metadata - accession: 0001213900-23-051365 - form_type: 8-K - ticker: ATLN - cik: 0001605888 - company_name: ATLANTIC INTERNATIONAL CORP. - filed_at: 2023-06-23T23:59:59+00:00 - event_type: regulatory - sentiment: negative - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 3.01, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1605888/000121390023051365/0001213900-23-051365-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1605888/000121390023051365/ea180657-8k_seqllinc.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001213900-23-051365 - JSON: https://secwatch.observer/filing/0001213900-23-051365.json - Plain text: https://secwatch.observer/filing/0001213900-23-051365.txt ## Key facts - Listing & Compliance Notices ATLANTIC INTERNATIONAL CORP. received a nasdaq compliance regained notice regarding minimum bid price (rules 5550(a)(2), 5800). - Exchange: nasdaq - Notice: compliance regained - Deficiency: minimum bid price - Rules: 5550(a)(2), 5800 source text: e Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. Under applicable Nasdaq rules, the Company may appeal the Staff’s determination to a Hearings Panel (the “Panel”) pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision, and the Company’s securities will continue to trade on The Nasdaq Capital Market until the hearing process is concluded and the Panel issues a writ evidence_url: https://www.sec.gov/Archives/edgar/data/1605888/000121390023051365/0001213900-23-051365-index.htm - Material Agreements ATLANTIC INTERNATIONAL CORP. amended Amendment No. 1 to Agreement and Plan of Reorganization with SeqLL, Inc., SeqLL Merger LLC, Atlantic Acquisition Corp, Atlantic Merger LLC, Lyneer Investments, LLC, IDC Technologies, Inc., Lyneer Management Holdings LLC valued at Amends Lyneer Stock Consideration to number of shares equal to $60,000,000 divided by Offering Price (effective 2023-06-23). - Action: amendment - Agreement: merger - Counterparty: SeqLL, Inc., SeqLL Merger LLC, Atlantic Acquisition Corp, Atlantic Merger LLC, Lyneer Investments, LLC, IDC Technologies, Inc., Lyneer Management Holdings LLC - Value: Amends Lyneer Stock Consideration to number of shares equal to $60,000,000 divided by Offering Price - Effective: 2023-06-23 source text: On June 23, 2023, the Company entered into Amendment No. 1 to the Agreement and Plan of Reorganization (the “Amendment”) with the other parties thereto. evidence_url: https://www.sec.gov/Archives/edgar/data/1605888/000121390023051365/0001213900-23-051365-index.htm - Material Agreements ATLANTIC INTERNATIONAL CORP. entered into Agreement and Plan of Reorganization with SeqLL, Inc., SeqLL Merger LLC, Atlantic Acquisition Corp, Atlantic Merger LLC, Lyneer Investments, LLC, IDC Technologies, Inc., Lyneer Management Holdings LLC valued at Merger Agreement pursuant to which Atlantic Merger Sub merges with and into Lyneer, and Purchaser Su (effective 2023-05-29). - Action: entry - Agreement: merger - Counterparty: SeqLL, Inc., SeqLL Merger LLC, Atlantic Acquisition Corp, Atlantic Merger LLC, Lyneer Investments, LLC, IDC Technologies, Inc., Lyneer Management Holdings LLC - Value: Merger Agreement pursuant to which Atlantic Merger Sub merges with and into Lyneer, and Purchaser Su - Effective: 2023-05-29 source text: As previously reported, on May 29, 2023, SeqLL, Inc., a Delaware corporation (the “Company”), SeqLL Merger LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company (“Purchaser Sub”), Atlantic Acquisition Corp, a Delaware corporation (“Atlantic”), Atlantic Merger LLC, a Delaware limited liability company and a majority-owned subsidiary of Atlantic (“Atlantic Merger Sub”), Lyneer Investments, LLC, a Delaware limited liability company (“Lyneer”), IDC Technologies, Inc., a California corporation (“IDC”), and Lyneer Management Holdings LLC, a Delaware limited liability company (“Lyneer Management”), entered into an Agreement and Plan of Reorganization (the “Merger Agreement”) evidence_url: https://www.sec.gov/Archives/edgar/data/1605888/000121390023051365/0001213900-23-051365-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.