Pro forma financials show Lyneer as continuing entity with $401.4M revenue, $31.1M net loss for 2023

ATLANTIC INTERNATIONAL CORP.

Pro forma revenue for 2023: $401.4M; net loss $31.1M (incl. $43M stock-based compensation and $24.7M deferred tax benefit).
Pro forma revenue for Q1 2024: $100.6M; net loss $4.0M.
Total pro forma assets as of March 31, 2024: $141.3M; liabilities $89.9M; equity $51.5M.
Merger note of $35M issued to IDC; IDC also received $60M in common stock valued at $2.36/share.
Lyneer retains $37.1M of revolving debt per Allocation Agreement; other joint debt deconsolidated.

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