---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-085296"
form_type: "8-K"
ticker: "ATLN"
cik: "0001605888"
company_name: "ATLANTIC INTERNATIONAL CORP."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T06:43:50.358408+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SeqLL amends merger agreement with Lyneer/IDC; cash consideration reduced, adds $20M convertible note

## Summary
- Amendment No. 4 eliminates $35M cash consideration, replacing with $20M cash + $20M convertible note to IDC.
- Convertible note bears no interest; upon default, 7% p.a. and convertible at ≥80% of Capital Raise price.
- Lyneer Stock Consideration redirected: 90% of shares formerly issuable to IDC now issuable to IDC CEO Prateek Gattani.
- Atlantic Stock Consideration changed to $43M / Offering Price (previously based on $150M - $67M formula).
- Required dividends to stockholders removed; replaced with settlement offer of same amount within 90 days of closing.

## SEC filing metadata
- accession: 0001213900-23-085296
- form_type: 8-K
- ticker: ATLN
- cik: 0001605888
- company_name: ATLANTIC INTERNATIONAL CORP.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1605888/000121390023085296/0001213900-23-085296-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1605888/000121390023085296/ea188009-8k_seqllinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-085296
- JSON: https://secwatch.observer/filing/0001213900-23-085296.json
- Plain text: https://secwatch.observer/filing/0001213900-23-085296.txt

## Key facts
- Material Agreements
  ATLANTIC INTERNATIONAL CORP. amended Amendment with SeqLL, Inc.; SeqLL Merger LLC; Atlantic Merger LLC; Lyneer Investments, LLC; IDC Technologies, Inc.; Lyneer Management Holdings LLC (effective 2023-11-03).
  - Action: amendment
  - Agreement: merger
  - Counterparty: SeqLL, Inc.; SeqLL Merger LLC; Atlantic Merger LLC; Lyneer Investments, LLC; IDC Technologies, Inc.; Lyneer Management Holdings LLC
  - Effective: 2023-11-03
  source text: On November 3, 2023, the Company entered into Amendment No. 4 to the Agreement and Plan of Reorganization (the "Amendment") with the other parties thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1605888/000121390023085296/0001213900-23-085296-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.