secwatch.observer — SEC 8-K summary
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Issuer:     JANEL CORP (JANL)
CIK:        0001133062
Form:       8-K
Filed at:   2021-09-27T23:59:59+00:00
Accession:  0001140361-21-032567
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1133062/000114036121032567/0001140361-21-032567-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1133062/000114036121032567/brhc10028157_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-21-032567

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