---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-21-032567"
form_type: "8-K"
ticker: "JANL"
cik: "0001133062"
company_name: "JANEL CORP"
filed_at: "2021-09-27T23:59:59+00:00"
generated_at: "2026-06-29T01:12:25.770338+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Janel acquires Expedited Logistics for $19M; raises credit line to $30M

## Summary
- Acquired 100% of ELFS for $19M; paid $13M cash and $6M in subordinated promissory notes at close.
- Earn-out payments of up to $4.5M based on ELFS operating profit.
- Amended credit facility with Santander: max revolver increased from $17M to $30M, maturity extended to Sept 2026, LIBOR+2.25% with 75bps floor.
- Adopted Amended Equity Incentive Plan, increasing authorized shares from 100k to 200k for grants.
- Transaction funded via cash from operations, new borrowings, and seller notes.

## SEC filing metadata
- accession: 0001140361-21-032567
- form_type: 8-K
- ticker: JANL
- cik: 0001133062
- company_name: JANEL CORP
- filed_at: 2021-09-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1133062/000114036121032567/0001140361-21-032567-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1133062/000114036121032567/brhc10028157_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-21-032567
- JSON: https://secwatch.observer/filing/0001140361-21-032567.json
- Plain text: https://secwatch.observer/filing/0001140361-21-032567.txt

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