---
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"
generated_at: "2026-06-16T06:12:13.682229+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Janel Corp subsidiary enters $15.5M credit facility with First Merchants Bank

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-021682
- JSON: https://secwatch.observer/filing/0001140361-23-021682.json
- Plain text: https://secwatch.observer/filing/0001140361-23-021682.txt

## Key facts
- Debt Financings
  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 ....
  - Instrument: credit facility
  - Principal: $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
  - Counterparty: First Merchants Bank
  - Rate: one-month adjusted term SOFR plus either (i) 2.75% ... or (ii) 3.50% ... 4.19% o
  - Maturity: 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 ...
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/0001140361-23-021682-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: First Merchants Bank
  - Value: $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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/0001140361-23-021682-index.htm

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