Prateek Gattani Files SC 13D for Atlantic International Corp.

TL;DR

**Gattani files 13D on Atlantic International Corp. (fka SeqLL) - ownership change incoming.**

AI Summary

On June 18, 2024, Prateek Gattani filed a Schedule 13D for Atlantic International Corp. (formerly SeqLL, Inc.). Gattani, with a business address at 270 Sylvan Ave, Suite 2230, Englewood Cliffs, NJ, is filing this statement under the Securities Exchange Act of 1934. The filing indicates a change in beneficial ownership or control of the company's common stock.

Why It Matters

This filing signals a significant change in the ownership or control of Atlantic International Corp., potentially impacting its stock price and corporate strategy.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate activist investors or significant stake acquisitions, which can lead to volatility and strategic shifts.

Key Numbers

• 0001605888 — Central Index Key (Atlantic International Corp. identifier)
• 0001988682 — Central Index Key (Prateek Gattani identifier)
• 005-94545 — SEC File Number (Atlantic International Corp. filing reference)

Key Players & Entities

• Atlantic International Corp. (company) — Subject Company
• SeqLL, Inc. (company) — Former Company Name
• Prateek Gattani (person) — Filing Person
• Elliot H. Lutzker (person) — Authorized to Receive Notices
• Davidoff Hutcher & Citron LLP (company) — Legal Counsel

FAQ

Key Financial Figures

• $0.00001 — me of Issuer) Common Stock, Par Value $0.00001 per share (Title of Class of Securiti
• $35 million — ssuer paid IDC a combination of cash (a $35 million promissory note and shares of Common St
• $2.36 — 3,729 shares of Common Stock, valued at $2.36 per share, as stock consideration for t

Filing Documents

• ea0208712-13dgattani_atlant.htm (SC 13D) — 53KB
• 0001213900-24-057296.txt ( ) — 55KB

Identity and Background

Item 2. Identity and Background (a) This Schedule 13D is being filed by Prateek Gattani (“Mr. Gattani”), the Chairman of the Board of the Issuer and IDC Technologies, Inc. (“IDC” and, together with Mr. Gattani, the “Reporting Persons”). (b) The Reporting Persons’ business and office address is IDC Technologies, Inc., 920 Hillview Court, Suite 250, Milpitas, CA 95035. (c) Mr. Gattani’s principal business is to serve as Chief Executive Officer of IDC, 920 Hillview Court, Suite 250, Milpitas, CA 95035. IDC is a California based company providing business process outsourcing, IT consulting, revenue sources and software as a service (SAAS). (d) During the past five years, the Reporting Persons have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the past five years, the Reporting Persons have not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Mr. Gattani is a citizen of the United States. IDC is a California corporation.

Source and Amount of Funds or Other

Item 3. Source and Amount of Funds or Other Considerations . Pursuant to an Amended and Restated Agreement and Plan of Reorganization by and among the Issuer, IDC, Lyneer Investments, LLC (“Lyneer”), and certain other parties as set forth therein, dated as of June 4, 2024, as amended (the “Merger Agreement”), Lyneer became a wholly-owned subsidiary of the Issuer on June 18, 2024. In accordance with the terms of the Merger Agreement, the Issuer paid IDC a combination of cash (a $35 million promissory note and shares of Common Stock as consideration for the mergers contemplated by the Merger Agreement (the “Mergers”). IDC received 25,423,729 shares of Common Stock, valued at $2.36 per share, as stock consideration for the Mergers.

Purpose of Transaction . The

Item 4. Purpose of Transaction . The Reporting Person received the securities referred to on Item 3 above as consideration for the Issuer’s acquisition of all membership interests of Lyneer under the Merger Agreement. The Reporting Person does not have a present plan or proposal that relates to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D of the Securities Exchange Act of 1934.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer (a) 25,423,729 (52.2 %) shares based on 48,728,814 shares issued and outstanding as of June 18, 2024. (b) Mr. Gattani, as the Chief Officer of IDC, has the power to vote and dispose of the shares of Common Stock owned by IDC. (c) The shares were issued to IDC pursuant to the terms of the Merger Agreement. (d) No person has the right to receive, or the power to direct the receipt of dividends from, or proceeds from, the sale of such securities. (e) Not applicable.

Contracts, Arrangements, Understandings

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer; None

Material to Be Filed as Exhibits;

Item 7. Material to Be Filed as Exhibits; A. Amended and Restated Merger Agreement dated as of June 4, 2024, incorporated by reference to Exhibit 2.1 to the Issuer’s Form 8-K (File No. 001-40760) filed with the Securities and Exchange Commission on June 6, 2024. B. Amendment No. 1 to Amended and Restated Merger Agreement dated as of June 12, 2024, incorporated by reference to Exhibit 2.1 to the Issuer’s Form 8-K filed with the Securities and Exchange Commission on June 18, 2024. Page 5 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct. June 28, 2024 Dated /s/ Prateek Gattani Signature Prateek Gattani Name/Title Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).

View Full Filing

View this SC 13D filing on SEC EDGAR