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Michael Tenore, General Counsel at Atlantic International Corp (NASDAQ:ATLN), acquired 577,171 shares of common stock at a price of $0.0001 on January 7, 2025, for a total value of $57. The company, currently valued at $240.7 million, has shown revenue growth of 10.11% over the last twelve months, despite challenging market conditions.
According to a Form 4/A filing with the Securities and Exchange Commission, the transaction increased Tenore’s direct ownership in Atlantic International to 1,001,634 shares of common stock. The stock, currently trading at $2.22, has experienced significant pressure, falling 47% over the past six months.
On the same day, Tenore also acquired 577,171 Restricted Stock Units, which can be converted into common stock, with an exercise price of $0.0001, expiring on July 7, 2030. InvestingPro analysis reveals additional key insights about Atlantic International’s financial health and valuation metrics, with 8 more exclusive ProTips available for subscribers. In other recent news, Atlantic International Corp. announced that it will be added to the Russell 3000 Index effective June 30, 2025, as part of the annual reconstitution of Russell indexes. This inclusion will place the company in either the large-cap Russell 1000 Index or the small-cap Russell 2000 Index, depending on its market capitalization ranking. Additionally, Atlantic International has appointed Matt Evelt as its new Chief Operating Officer to lead global operations and enhance growth and efficiency. Evelt brings over twenty years of industry experience to the role, having previously served as President – Americas at Airswift. In another development, Atlantic International has launched a conversational AI platform through its subsidiary, Lyneer Staffing Solutions, aimed at transforming hiring and compensation decisions. The platform offers real-time workforce intelligence and compensation insights, accessible via a subscription model. Todd McNulty, CEO of Lyneer Staffing Solutions, highlighted the platform’s ability to democratize workforce intelligence for organizations of all sizes. This launch signifies a strategic move by Atlantic International into AI-powered workforce solutions, furthering its integration of advanced technology with industry expertise. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.