---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-040021"
form_type: "8-K/A"
ticker: "JANL"
cik: "0001133062"
company_name: "JANEL CORP"
filed_at: "2022-11-04T23:59:59+00:00"
generated_at: "2026-06-22T06:34:38.325057+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Janel acquires 44.99% of Rubicon Technology for $22.2M; pro forma financials filed

## Summary
- Acquired 1,108,000 shares (44.99% stake) of Rubicon at $20/share for $22.16M.
- Funding: $3.2M cash on hand, $12M bridge loan, $3.5M Santander, $3.5M First Merchants.
- Received $12.2M cash distribution ($11/share) from Rubicon; bridge loan repaid.
- Pro forma net income: FY2021 $5.6M vs $5.2M reported; 9-mo June 2022 $4.6M vs $5.1M reported.
- Investment in Rubicon recorded at fair value ($10.2M as of June 30, 2022) using equity method.

## SEC filing metadata
- accession: 0001140361-22-040021
- form_type: 8-K/A
- ticker: JANL
- cik: 0001133062
- company_name: JANEL CORP
- filed_at: 2022-11-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1133062/000114036122040021/0001140361-22-040021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1133062/000114036122040021/brhc10043669_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-040021
- JSON: https://secwatch.observer/filing/0001140361-22-040021.json
- Plain text: https://secwatch.observer/filing/0001140361-22-040021.txt

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