{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-021682","form_type":"8-K","ticker":"JANL","cik":"0001133062","company_name":"JANEL CORP","filed_at":"2023-04-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.025844+00:00","generated_at":"2026-06-16T06:12:13.682229+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Janel Corp subsidiary enters $15.5M credit facility with First Merchants Bank","bullets":["Total facilities: $3M revolver, $5M acquisition loan, $6.905M Term A, $0.62M Term B.","Interest on revolver, Term A, acquisition: one-month SOFR + 2.75% or 3.50%.","Term B loan bears fixed 4.19% interest; matures July 2025.","Revolving loan expires August 2027; Term A matures April 2033; acquisition loan matures April 2029.","Obligations secured by all borrower assets and guaranteed by Janel, with equity pledge."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-021682","json":"https://secwatch.observer/filing/0001140361-23-021682.json","markdown":"https://secwatch.observer/filing/0001140361-23-021682.md","text":"https://secwatch.observer/filing/0001140361-23-021682.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/0001140361-23-021682-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/brhc20052156_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T06:12:13.682229+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b7bea91d24920eccf4722d5fcf3ff75ccc831f76","claim":"JANEL CORP incurred credit facility of $3.0 million Revolving Loan, a $5.0 million Acquisition Loan, a $6.905 million Term A Loan and a $620,000 Term B Loan with First Merchants Bank at one-month adjusted term SOFR plus either (i) 2.75% ... or (ii) 3.50% ... 4.19% o maturing Revolving Loan ... expire on August 1, 2027, Term A Loan ... mature on April 25, 2033, Term B Loan ... mature on July 1, 2025, Acquisition Loan ... maturity ....","evidence_excerpt":"are part of the Life Science and Manufacturing segments (together with Indco, the “ Borrowers ” and each, a “ Borrower ”), entered into a Credit Agreement (the “ Credit Agreement ”) with First Merchants Bank (“ First Merchants ”). The Credit Agreement constitutes an amendment and restatement of that certain Credit Agreement dated February 29, 2016 between Indco and First Merchants (as amended, the “ Prior Credit Agreement ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/0001140361-23-021682-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$3.0 million Revolving Loan, a $5.0 million Acquisition Loan, a $6.905 million Term A Loan and a $620,000 Term B Loan"},{"label":"Counterparty","value":"First Merchants Bank"},{"label":"Rate","value":"one-month adjusted term SOFR plus either (i) 2.75% ... or (ii) 3.50% ... 4.19% o"},{"label":"Maturity","value":"Revolving Loan ... expire on August 1, 2027, Term A Loan ... mature on April 25, 2033, Term B Loan ... mature on July 1, 2025, Acquisition Loan ... maturity ..."},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"b75fb0b65cb568c658c14b2ccd38d0223d2bcda3","claim":"JANEL CORP entered into Credit Agreement with First Merchants Bank valued at $3.0 million Revolving Loan, a $5.0 million Acquisition Loan, a $6.905 million Term A Loan and a $62 (effective 2023-04-25).","evidence_excerpt":"On April 25, 2023 Indco, Inc. (“ Indco ”), a Tennessee corporation and subsidiary of Janel Corporation (the “Company”), and certain other Subsidiaries of the Company that are part of the Life Science and Manufacturing segments (together with Indco, the “ Borrowers ” and each, a “ Borrower ”), entered into a Credit Agreement (the “ Credit Agreement ”) with First Merchants Bank (“ First Merchants ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/0001140361-23-021682-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"First Merchants Bank"},{"label":"Value","value":"$3.0 million Revolving Loan, a $5.0 million Acquisition Loan, a $6.905 million Term A Loan and a $62"},{"label":"Effective","value":"2023-04-25"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}