Janel Corp amends credit facility, repurchases Series C preferred, withdraws Series B preferred

JANEL CORP

Amended Santander loan: revolver raised from $30M to $31.5M; interest benchmark switched from LIBOR to SOFR.
Repurchased 9,592 shares of Series C cumulative preferred for ~$6.06M (cash + stock); outstanding reduced to 11,368 shares.
Issued 65,205 common shares valued at $47/share in exchange for 4,905 Series C shares.
Filed certificate to reduce dividend on remaining Series C and withdraw Series B convertible preferred.
Granted 15,000 restricted common shares to a consultant under 2017 Equity Incentive Plan.

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