STAFFING 360 SOLUTIONS, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

Item 1.01 Entry Into a Material Definitive Agreement.

Amendments to Credit Agreement

On September 26, 2022, Staffing 360 Solutions, Inc. (the "Company") and certain of its domestic subsidiaries entered into an amendment ("Amendment No. 23") to the Credit and Security Agreement, dated as of April 8, 2015 (as amended, the "Credit Agreement") with MidCap Funding X Trust ("MidCap"). Amendment No. 23 extends the Commitment Expiry Date, as defined in the Credit Agreement, to September 29, 2022.

On September 29, 2022, the Company and certain of its domestic subsidiaries entered into an amendment ("Amendment No. 24") to the Credit Agreement with MidCap, which further extends the Commitment Expiry Date to October 13, 2022. The foregoing descriptions of Amendment No. 23 and Amendment No. 24 do not purport to be complete and are qualified in their entirety by reference to the full text of Amendment No. 23 and Amendment No. 24, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by reference.

Limited Consent

On September 28, 2022, the Company entered into a limited consent (the "Limited Consent") to the Second Amended and Restated Note Purchase Agreement, dated as of October 26, 2020 (the "Note Purchase Agreement"), with Jackson Investment Group, LLC. The Limited Consent extends the existing maturity date of the Amended and Restated Senior Secured 12% Promissory Note, dated as of October 26, 2020, from September 30, 2022 to October 14, 2022. The foregoing description of the Limited Consent does not purport to be complete and is qualified in its entirety by reference to the full text of the Limited Consent, a copy of which is attached hereto as Exhibit 10.3 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.




Exhibit No.   Description
10.1            Amendment No. 23 to the Credit and Security Agreement, dated
              September 26, 2022
10.2            Amendment No. 24 to the Credit and Security Agreement, dated
              September 29, 2022
10.3            Limited Consent to Second Amended and Restated Note Purchase
              Agreement, dated September 28, 2022
104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document)

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