---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-027833"
form_type: "8-K"
ticker: "KFS"
cik: "0001072627"
company_name: "KINGSWAY FINANCIAL SERVICES INC"
filed_at: "2022-11-21T23:59:59+00:00"
generated_at: "2026-06-21T14:46:17.319064+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.72
calibrated_materiality_score: 0.72
confidence: "high"
source: SEC EDGAR
---

# Kingsway acquires Secure Nursing Service for $10.9M; expects immediate accretion

## Summary
- Purchase price $10.9M cash; SNS had $19.7M revenue, $2.6M GAAP pre-tax income, $2.7M adjusted EBITDA (TTM Jun 2022).
- Deal financed with $6.5M term loan + $1M revolver from Signature Bank; Prime+0.5% (5% floor), matures Nov 2028.
- Third acquisition under Kingsway Search Xcelerator Program; Charles Mokuolu named SNS President and CEO.
- Expected to be immediately accretive; capital-light, recurring revenue healthcare staffing business.

## SEC filing metadata
- accession: 0001437749-22-027833
- form_type: 8-K
- ticker: KFS
- cik: 0001072627
- company_name: KINGSWAY FINANCIAL SERVICES INC
- filed_at: 2022-11-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.72
- calibrated_materiality_score: 0.72
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1072627/000143774922027833/0001437749-22-027833-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1072627/000143774922027833/kfs20221118_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-027833
- JSON: https://secwatch.observer/filing/0001437749-22-027833.json
- Plain text: https://secwatch.observer/filing/0001437749-22-027833.txt

## Key facts
- Material Agreements
  KINGSWAY FINANCIAL SERVICES INC entered into Asset Purchase Agreement with Secure Nursing Service, Inc., a California corporation, Rafael Gofman, Ella Gofman, and Zhanna Weiss valued at approximately $10.9 million (effective 2022-11-18).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Secure Nursing Service, Inc., a California corporation, Rafael Gofman, Ella Gofman, and Zhanna Weiss
  - Value: approximately $10.9 million
  - Effective: 2022-11-18
  source text: On November 18, 2022, Pegasus Acquirer LLC (the “Kingsway Buyer”), a newly formed subsidiary of Kingsway Financial Services Inc. (the “Company” or “Kingsway”), entered into an Asset Purchase Agreement (the “Agreement”) with Secure Nursing Service, Inc., a California corporation (“Seller”), Rafael Gofman (“Gofman”), Ella Gofman (“Ella”), and Zhanna Weiss (“Weiss” and, collectively with Gofman and Ella, the “Shareholders” and each, individually, a “Shareholder”) pursuant to which the Kingsway Buyer agreed to purchase and assume from Seller, substantially all of the assets and certain specified liabilities of Seller
  evidence_url: https://www.sec.gov/Archives/edgar/data/1072627/000143774922027833/0001437749-22-027833-index.htm

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