Atlantic International amends Staffing 360 merger; eliminates cash, adds preferred stock conversion

ATLANTIC INTERNATIONAL CORP.

Amendment removes cash consideration; all shares (common, Series H, Series I) convert into Atlantic common stock.
Jackson Investment Group debt ($5.6M principal + accrued interest) converts into 5,600,000 shares of Series I Preferred.
Earned Contingent Cash Payment converted into 5,000,000 Series H shares, then 3,500,000 Atlantic common shares with lock-up.
Atlantic common shares outstanding increased from 50.1M to 57.3M; RSUs from 1.8M to 4.9M; total pro forma 62.2M shares.
Termination deadline extended from Dec 31, 2024 to March 31, 2025; dissenters' rights eliminated.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.