Circle8 settles SPP dispute, cancels $35M convertible note; gets Nasdaq bid price deficiency

ATLANTIC INTERNATIONAL CORP.

Settlement with SPP extinguishes $35M convertible seller's note due March 2027; resolves NY and DE litigation.
Atlantic issues ~21.98M new shares to SPP; SPP grants 10-yr call option to repurchase same shares at $0.00001 each for retirement.
SPP to sell shares over ~18 months to repay $62.67M indebtedness; remaining shares returned if repaid early.
Lyneer Staffing to engage Robert O. Riiska as CTO; board reconstituted with one Atlantic, one SPP, one independent (Matthew Kahn).
Nasdaq deficiency: bid price below $1.00 for 30 days; 180 days to regain compliance by Feb 9, 2026.

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