secwatch.observer — SEC 8-K summary
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Issuer:     KINGSWAY FINANCIAL SERVICES INC (KFS)
CIK:        0001072627
Form:       8-K
Filed at:   2022-11-21T23:59:59+00:00
Accession:  0001437749-22-027833
Event type: m_and_a
Sentiment:  positive
Materiality: 0.72
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1072627/000143774922027833/0001437749-22-027833-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1072627/000143774922027833/kfs20221118_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-027833

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer