Atlantic International COO joins creditor amid debt default, terminated for cause

Filed April 3, 2026 · Period ending March 30, 2026 · ~1 min read

Key Changes

• high

  COO Mathew Evelt resigned March 30 after company discovered he had joined creditor SPP Credit Advisors, which issued default notices the same day. Company terminated him for cause, alleging egregious misconduct and breach of agreements.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• high

  Lender SPP issued formal default notices March 30 to Atlantic and subsidiaries. Company filed lawsuit April 1 seeking emergency injunction to block SPP from seizing control, removing officers, or exercising loan remedies.

  Item 8.01 — Other Events verify on EDGAR →
• medium

  Company disputes former COO's claims of strategic differences and non-payment, characterizing them as specious. Atlantic is investigating and intends to pursue all legal remedies against Evelt.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →