secwatch.observer — SEC 8-K summary
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Issuer:     JANEL CORP (JANL)
CIK:        0001133062
Form:       8-K
Filed at:   2022-04-05T23:59:59+00:00
Accession:  0001140361-22-013201
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1133062/000114036122013201/0001140361-22-013201-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1133062/000114036122013201/brhc10036148_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-013201

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