Circle8 settles SPP litigation, extinguishes $35M note; Nasdaq deficiency notice

ATLANTIC INTERNATIONAL CORP.

Settlement with SPP resolves litigation; total SPP indebtedness $62,669,730; $35M convertible note eliminated.
Atlantic issues 21,983,926 shares to SPP; 18-month sale period at 5% interest; call option at $0.00001/share.
Lyneer Staffing board reconstituted; Robert O. Riiska appointed CTO; SPP legal fee shares up to $1.8M.
Nasdaq notice: bid below $1.00 for 30 days; must regain compliance by Feb 9, 2027, or risk delisting.
Possible second 180-day period; company may consider reverse stock split to regain compliance.

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