{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-26-000211","form_type":"8-K","ticker":"JANL","cik":"0001133062","company_name":"JANEL CORP","filed_at":"2026-01-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:34.599941+00:00","generated_at":"2026-05-16T11:46:55.733088+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Janel Corp enters $59.1M senior credit facility, refinances existing debt","bullets":["New facility includes $40M revolver, $6M term loan, $3.12M mortgage, up to $10M acquisition loans.","Proceeds used to repay prior Santander Bank revolving line and First Merchants Bank term/acquisition loans.","Interest rate at base rate or term SOFR plus 1.7%-3.0% margin based on leverage ratio.","Financial covenants: minimum fixed charge coverage 1.20x, max leverage 4.50x, max secured leverage 3.50x.","Facility matures December 29, 2030; secured by substantially all real and personal property of obligors."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-000211","json":"https://secwatch.observer/filing/0001140361-26-000211.json","markdown":"https://secwatch.observer/filing/0001140361-26-000211.md","text":"https://secwatch.observer/filing/0001140361-26-000211.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1133062/000114036126000211/0001140361-26-000211-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1133062/000114036126000211/ef20062222_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T11:46:55.733088+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":"d284e54ca21c18da886fa5974364853a3d0d8671","claim":"JANEL CORP incurred credit facility of aggregating a principal up to $59,120,000 with Santander Bank, N.A. at either a base rate or, at the election of the Borrowers, term SOFR for the appli maturing December 29, 2030.","evidence_excerpt":"On December 29, 2025 (the “Closing Date”), Janel Corporation (the “Company”), Janel Group LLC and certain other subsidiaries of the Company, as borrowers (collectively, the “Borrowers”) and guarantors (together with the Company, the “Guarantors” and together with the Borrowers, the “Janel Obligors”), entered into that certain senior secured Credit Agreement with Santander Bank, N.A., as administrative agent (the “Administrative Agent”), Santander Bank, N.A., as joint lead arranger, First Merchants Bank as joint lead arranger, and the lenders party thereto (the “Senior Credit Agreement”), providing for revolving, term loan and acquisition credit facilities aggregating a principal up to $59,120,000 (the “Senior Credit Facility”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1133062/000114036126000211/0001140361-26-000211-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"aggregating a principal up to $59,120,000"},{"label":"Counterparty","value":"Santander Bank, N.A."},{"label":"Rate","value":"either a base rate or, at the election of the Borrowers, term SOFR for the appli"},{"label":"Maturity","value":"December 29, 2030"},{"label":"Event","value":"incurrence"}]},{"claim_id":"ed8a75ee9933547e79642d0a593dd27d6f44e2e0","claim":"JANEL CORP entered into Senior Credit Agreement with Santander Bank, N.A. valued at $59,120,000 (effective 2025-12-29).","evidence_excerpt":"On December 29, 2025 (the “Closing Date”), Janel Corporation (the “Company”), Janel Group LLC and certain other subsidiaries of the Company, as borrowers (collectively, the “Borrowers”) and guarantors (together with the Company, the “Guarantors” and together with the Borrowers, the “Janel Obligors”), entered into that certain senior secured Credit Agreement with Santander Bank, N.A., as administrative agent (the “Administrative Agent”), Santander Bank, N.A., as joint lead arranger, First Merchants Bank as joint lead arranger, and the lenders party thereto (the “Senior Credit Agreement”), providing for revolving, term loan and acquisition credit facilities aggregating a principal up to $59,120,000 (the “Senior Credit Facility”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1133062/000114036126000211/0001140361-26-000211-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Santander Bank, N.A."},{"label":"Value","value":"$59,120,000"},{"label":"Effective","value":"2025-12-29"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}