Atlantic Intl Stock Price, News & Analysis

Atlantic International Corp. (ATLN) reported Q3 2024 revenue of $107.8 million, a 10.2% increase from $97.8 million in the same period last year. Gross profit was $11.9 million (11.0% of revenue), compared to $11.6 million (11.9%) last year. The company announced a pending merger with Staffing 360 Solutions, expected to add $200 million in annual revenue, resulting in pro forma annual revenue of approximately $640 million with anticipated cost synergies of $10 million. The company expanded operations with a new logistics center in Temple, Texas, and introduced Site Selection Dashboards for location-based hiring decisions.

Atlantic International Corp. (OTC: ATLN) and Staffing 360 Solutions (NASDAQ: STAF) have announced a definitive merger agreement. Atlantic will acquire all outstanding shares of Staffing 360, with shareholders receiving 1.202 Atlantic shares for each Staffing 360 share. The transaction, valued at approximately $25 million, will result in Atlantic and Staffing 360 shareholders owning 90% and 10% of the combined company respectively.

The merged entity expects annual revenue of approximately $620 million and anticipates run-rate cost synergies of $10 million. Staffing 360 will operate as a wholly owned subsidiary under its current leadership team. The transaction is expected to close within 90 days, subject to shareholder and regulatory approval.

Atlantic International Corp. (OTC: ATLN) has launched Site Selection Dashboards, a new platform designed to transform location-based hiring and expansion decisions through real-time market intelligence. The platform offers comprehensive data analytics including real-time tracking of business expansion projects, industry-specific growth trends, and geographic heat maps of hiring activities.

The Dashboards target diverse industries including manufacturing, healthcare, technology, retail, and professional services, specifically designed for corporate leaders such as CHROs, COOs, and HR directors. The company plans to integrate AI technology in future releases to enhance the platform's capabilities.

Atlantic International Corp. (OTC: ATLN) has announced a significant expansion of its partnership with a leading food production company through its subsidiary, Lyneer Staffing Solutions. The extended collaboration, valued at $11 million with potential for a 25% increase to $13.75 million, builds on an existing long-term relationship with annual renewals.

The partnership extension includes additional locations and represents an annual spend of $10 million. This expansion marks a important milestone in Lyneer's growth within the food production industry, reinforcing its position as a trusted workforce solutions provider. Both Todd McNulty, CEO of Lyneer Staffing Solutions, and Jeffrey Jagid, CEO of Atlantic International, expressed enthusiasm about the expanded relationship and its alignment with the company's strategic growth objectives.

IDEAYA Biosciences (NASDAQ: IDYA) has appointed Douglas B. Snyder as Senior Vice President and General Counsel, effective September 18, 2024. Snyder brings over 25 years of legal experience in healthcare, including roles at GW Pharmaceuticals, Actelion Pharmaceuticals, Eisai, GSK, and the FDA. His extensive commercial and international experience positions him well to lead IDEAYA's legal functions as the company prepares for potential commercialization of Darovasertib and expands its clinical pipeline efforts, including in MTAP-deletion.

Snyder's most recent role was Executive VP, Chief Legal Officer, and Secretary at GW Pharmaceuticals from 2017 to 2022, overseeing its $7.2 billion acquisition by Jazz Pharmaceuticals. He holds a J.D. from the Catholic University of America and a B.A. from Dickinson College.

Atlantic International Corp. (OTC: ATLN), a leading provider of strategic staffing outsourced services and workforce solutions, has announced a new location in Temple, TX for its subsidiary Lyneer Staffing Solutions. This expansion will support a leading industrial automation company and marks a significant milestone in Atlantic's strategic growth.

The new facility aims to strengthen Lyneer's regional presence and enhance its ability to provide responsive, tailored solutions to clients facing dynamic staffing challenges. Todd McNulty, CEO of Lyneer Staffing Solutions, and Jeffrey Jagid, CEO of Atlantic, both emphasized the importance of this expansion in fostering partnerships and adapting to evolving client needs.

Atlantic International Corp. (OTC: ATLN) reported strong Q2 2024 financial results, marking its first quarter as a public company. Revenue grew 17% year-over-year to $104.6 million, driven by customer base expansion and increased demand for core services. The company's gross profit was $11.5 million, representing 11.0% of revenue. Atlantic's customer base grew 10% quarter-over-quarter to approximately 1,100.

Operational highlights include the successful opening of a new UPS logistics center in Rock Hill, South Carolina, and ongoing investments in technology and infrastructure. Atlantic is targeting combined annual revenue exceeding $1 billion in 2025, including acquisitions. For Q3 2024, the company expects revenue between $105-$115 million, with anticipated margin improvements.

Atlantic International Corp.'s (OTC: ATLN) subsidiary, Lyneer Staffing Solutions, has announced a significant expansion with the opening of a new location in Rock Hill, South Carolina. This strategic move is designed to support one of the world's largest global supply chain management companies, reinforcing Lyneer's commitment to partnering with industry leaders.

The expansion aligns with Lyneer's mission to provide innovative staffing solutions that enhance operational efficiency for clients. Todd McNulty, CEO of Lyneer Staffing Solutions, emphasized that the new Rock Hill office will enable more responsive, localized client support while addressing the dynamic staffing needs of the supply chain industry.

This development further solidifies Lyneer's position as a trusted partner for businesses seeking high-quality staffing solutions across various sectors.

Atlantic International Corp. (OTC: ATLN), formerly known as SeqLL Inc. (OTC: SQL), has announced the acquisition of Lyneer Staffing Solutions. This strategic move creates a national staffing and workforce solutions company with annual revenues exceeding $400 million and an adjusted EBITDA of $5.4 million as of December 31, 2023. The acquisition involves a $35 million promissory note and $60 million in restricted stock. Lyneer serves over 1,100 customers, including major companies like UPS, DHL, FedEx, and PepsiCo. The CEO of Atlantic, Jeffrey Jagid, aims to leverage this acquisition for strategic growth, focusing on medical, IT, and engineering staffing. Additionally, Prateek Gattani of IDC Technologies, the principal shareholder, has been appointed Chairman. The company aims to uplist to a National Securities Exchange soon.