---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-000135"
form_type: "8-K"
ticker: "AIFC"
cik: "0000862861"
company_name: "AI Financial Corp"
filed_at: "2023-01-04T23:59:59+00:00"
generated_at: "2026-06-20T20:38:09.969904+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# JanOne acquires Soin Therapeutics in up to $30M stock deal for CRPS naltrexone drug

## Summary
- All-stock acquisition valued at initial $13M, with potential earn-out up to $30M based on product revenues.
- Product is low-dose naltrexone for Complex Regional Pain Syndrome (CRPS); FDA granted Orphan Drug Designation.
- Dr. Amol Soin, founder, becomes Chief Medical Officer for at least six months post-closing.
- Issued 100,000 shares of Series S Convertible Preferred Stock (stated value $300/share) with conversion restrictions.
- Orphan designation provides tax credits, fee exemptions, and potential 7-year market exclusivity upon approval.

## SEC filing metadata
- accession: 0000950170-23-000135
- form_type: 8-K
- ticker: AIFC
- cik: 0000862861
- company_name: AI Financial Corp
- filed_at: 2023-01-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 5.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862861/000095017023000135/0000950170-23-000135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862861/000095017023000135/jan-20221228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-000135
- JSON: https://secwatch.observer/filing/0000950170-23-000135.json
- Plain text: https://secwatch.observer/filing/0000950170-23-000135.txt

## Key facts
- Material Agreements
  AI Financial Corp entered into Agreement and Plan of Merger with STLLC and Amol Soin, M.D. valued at initial value of $13,000,000 (effective 2022-12-28).
  - Action: entry
  - Agreement: merger
  - Counterparty: STLLC and Amol Soin, M.D.
  - Value: initial value of $13,000,000
  - Effective: 2022-12-28
  source text: The acquisition was memorialized by an Agreement and Plan of Merger, dated as of December 28, 2022 (the “Merger Agreement”), by and among STLLC, Amol Soin, M.D., the sole stockholder of STLLC (“Dr. Soin”), our Merger Sub, and us.
  evidence_url: https://www.sec.gov/Archives/edgar/data/862861/000095017023000135/0000950170-23-000135-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.