secwatch.observer — SEC 8-K summary
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Issuer:     JANEL CORP (JANL)
CIK:        0001133062
Form:       8-K/A
Filed at:   2022-11-04T23:59:59+00:00
Accession:  0001140361-22-040021
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1133062/000114036122040021/0001140361-22-040021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1133062/000114036122040021/brhc10043669_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-040021

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