ENGLEWOOD CLIFFS, N.J., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Atlantic International Corp. ("Atlantic"), a leading provider of strategic staffing, outsourced services and workforce solutions, today announced that it has received approval to list its common stock on the Nasdaq Global Market ("Nasdaq") stock exchange. Trading on Nasdaq is expected to commence on Wednesday, December 11, 2024 under the Company's current ticker symbol "ATLN". Prior to listing on Nasdaq, the Company's shares traded on the OTC Markets. Shareholders are not required to take any action as a result of the uplisting.
"This strategic decision to transfer to the Nasdaq reflects the strong growth trajectory in our business. With these changes, we expect to enhance our visibility, attract a diverse retail and institutional shareholder base, and improve overall trading liquidity. The Nasdaq listing better aligns with trading dynamics and technical characteristics of our workforce solutions industry peers, which we expect will increase long-term value for Atlantic's shareholders," said Jeffrey Jagid, Chief Executive Officer.
Jeffrey Jagid added, "Listing on Nasdaq represents a significant milestone for our Company. We expect our pending acquisition of Staffing 360 Solutions, Inc. to result in pro forma revenue of approximately $620 million, and we are poised to begin 2025 as one of the fastest growing human capital management companies in the industry."
About Atlantic International Corp.
Atlantic International Corp. ("Atlantic") is a leading strategic staffing, outsourced services, and workforce solutions company executing a high-growth strategy. Through its principal operating subsidiary, Lyneer Investments LLC ("Lyneer"), Atlantic provides its customers with complete HR solutions, operating 40 independent on-site and vendor-on-premises facilities and paying over 12,000 employees weekly. According to Staffing Industry Analysts, Atlantic is among the top 20 largest national staffing companies servicing the light industrial, commercial, professional, finance, direct placement, and managed service provider verticals. Atlantic's approximately 300 employees generated over $400 million in revenue for the twelve months ended September 30, 2024.
For more information about Atlantic International Corp., please visit www.atlantic-international.com.
For more information about Lyneer Staffing Solutions please visit www.lyneer.com.
Forward-Looking Statements & Safe Harbor Statement
With the exception of the historical information contained in this press release, the matters described herein, may contain "forward-looking statements" relating to the business of Atlantic, and its subsidiary company Lyneer. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations Contact
Kale Fein
investors@atlantic-international.com
(213) 915-6414
