Atlantic settles lender litigation, extinguishes $35M convertible note, restructures $62.7M debt

Filed August 13, 2026 · Period ending August 7, 2026 · ~1 min read

Key Changes

• high

  Settlement with SPP Credit Advisors eliminates $35M convertible promissory note, removing conversion rights and potential equity dilution from the Lyneer acquisition debt.

  Item 8.01 verify on EDGAR →
• high

  Company will issue 21,983,926 shares to SPP to satisfy $62.7M debt over 18 months at 5% interest; Atlantic receives call option to repurchase shares at $0.00001 for cancellation.

  Item 8.01 verify on EDGAR →
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  Settlement cures loan defaults, restores debt to non-default interest rates, and resolves all pending litigation between Atlantic and SPP.

  Item 8.01 verify on EDGAR →