[SCHEDULE 13D/A] Atlantic International Corp. SEC Filing
Andrew Bressman, a Strategic Advisor to Atlantic International Corp. (ATLN), reports beneficial ownership of 6,503,971 shares, representing 11.1% of the company based on 58,375,488 shares outstanding as of August 11, 2025. His holdings arise from consideration under a June 4, 2024 merger agreement and a Consulting Agreement with SAB Management LLC: 2,436,000 shares issued in connection with the merger, 3,484,571 shares from RSUs exercised, and a board award of 1,000,000 shares on August 11, 2025. Mr. Bressman assigned 417,000 shares to his adult children and others as gifts and disclaimed beneficial ownership of those shares. He has sole voting and dispositive power over the reported shares and states he has no current plans to effect transactions or actions described in Item 4 of Schedule 13D.
- 11.1% beneficial ownership (6,503,971 shares) signals meaningful alignment with shareholders
- Securities received as compensation and merger consideration (2,436,000 merger shares; 3,484,571 RSU shares exercised; 1,000,000 board award)
- Sole voting and dispositive power over the reported shares provides clear, direct voting influence
- Transparent disclosure of gifts (417,000 shares assigned to family) and origin of holdings
- None.
Insights
TL;DR Significant insider equity stake from merger and compensation gives the adviser material economic alignment with shareholders.
The reported 11.1% stake is sizable for an individual reporting person and results primarily from merger consideration and exercised RSUs rather than open-market purchases, which may limit immediate liquidity-driven pressure on the float. The filing clarifies sole voting and dispositive control over 6.5 million shares, indicating direct influence on shareholder votes. The assignment of 417,000 shares as gifts modestly reduces his percentage ownership. No planned transactions or conditioning actions are disclosed, which suggests the holding is currently strategic/compensatory rather than activist in intent.
TL;DR Insider shares granted via merger and board award increase insider representation but filing shows no governance proposals planned.
The Schedule 13D discloses equity granted under the Merger Agreement, Consulting Agreement, and a subsequent board award, aligning the advisor with management and the acquiror interests. Sole voting power over the reported shares means Mr. Bressman can influence corporate votes, yet Item 4 explicitly reports no present plan to pursue actions enumerated under Schedule 13D, indicating no announced push for governance changes. The gift and disclaimer of 417,000 shares to family reduces his beneficial percentage slightly and is disclosed transparently.