secwatch.observer — SEC 8-K summary
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Issuer:     JANEL CORP (JANL)
CIK:        0001133062
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001140361-23-021682
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/0001140361-23-021682-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1133062/000114036123021682/brhc20052156_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-021682

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