{"schema_version":"secwatch.filing_event.v1","accession":"0001605888-25-000010","form_type":"8-K","ticker":"ATLN","cik":"0001605888","company_name":"ATLANTIC INTERNATIONAL CORP.","filed_at":"2025-05-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.991360+00:00","generated_at":"2026-05-22T17:28:32.419524+00:00","sec_items":["5.02","2.03","7.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.85,"confidence":"high","headline":"Atlantic International subsidiary secures $70M revolver; chairman resigns; IDC shares foreclosed","bullets":["Lyneer Staffing entered $70M senior secured revolver with North Mill Capital (SLR Business Credit), replacing BMO facility; interest Prime+1% (min 5.75%), matures April 29, 2028.","Amended $35M convertible promissory note with IDC Technologies; maturity extended to March 31, 2027.","BMO assumed 3,439,803 Atlantic shares from IDC as collateral; term lender foreclosed on IDC's remaining 21,983,926 shares.","Chairman Prateek Gattani resigned effective on Restatement Closing Date at board's request in connection with the loan agreement."],"urls":{"canonical":"https://secwatch.observer/filing/0001605888-25-000010","json":"https://secwatch.observer/filing/0001605888-25-000010.json","markdown":"https://secwatch.observer/filing/0001605888-25-000010.md","text":"https://secwatch.observer/filing/0001605888-25-000010.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1605888/000160588825000010/0001605888-25-000010-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1605888/000160588825000010/altn-20250429.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T17:28:32.419524+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b88f55d24f","claim":"Prateek Gattani resigned as Chairman of the Board at ATLANTIC INTERNATIONAL CORP..","evidence_excerpt":"On April 29, 2025, in consideration of the Loan Agreement (as defined in Item 2.03 below), and at the request of the Board of Directors, Prateek Gattani resigned as Chairman of the Board of directors of the Company, effective on the Restatement Closing Date (as defined under the Loan Agreement).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1605888/000160588825000010/0001605888-25-000010-index.htm","confidence":0.95}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}