secwatch.observer — SEC 8-K summary
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Issuer:     ATLANTIC INTERNATIONAL CORP. (ATLN)
CIK:        0001605888
Form:       8-K
Filed at:   2024-01-18T23:59:59+00:00
Accession:  0001213900-24-004523
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SeqLL amends merger agreement with Lyneer; extends termination date to March 15, 2024
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- Amendment No. 5 restructures Merger Consideration: $35M total cash - $12.75M to IDC for debt, $3.5M to Lyneer Management, $18.75M convertible note to IDC.
- Stock Consideration unchanged at $55M in SeqLL shares (90% to IDC, 10% to Lyneer Management); Atlantic receives $43M in shares.
- Termination Date extended from Nov 30, 2023 to March 15, 2024.
- Merger Note ($18.75M) is non-interest bearing, due July 31, 2024, proceeds to repay indebtedness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1605888/000121390024004523/0001213900-24-004523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1605888/000121390024004523/ea191806-8k_seqll.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-004523

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