secwatch.observer — SEC 8-K summary
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Issuer:     ATLANTIC INTERNATIONAL CORP. (ATLN)
CIK:        0001605888
Form:       8-K
Filed at:   2025-01-13T23:59:59+00:00
Accession:  0001213900-25-003018
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1605888/000121390025003018/0001213900-25-003018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1605888/000121390025003018/ea0227522-8k_atlantic.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-003018

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