secwatch.observer — SEC 8-K summary
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Issuer:     INTELLINETICS, INC. (INLX)
CIK:        0001081745
Form:       8-K
Filed at:   2022-04-05T23:59:59+00:00
Accession:  0001493152-22-009115
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.01, 3.02, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Intellinetics acquires Yellow Folder for $6.5M, financed via equity and 12% notes
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- Acquired substantially all assets of Yellow Folder (K-12 document management) on April 1, 2022 for ~$6.5M cash, subject to working capital adjustment.
- Yellow Folder's 2021 unaudited revenue ~$2.8M, adjusted EBITDA ~$0.6M; run-rate (Feb 2022) revenue $3.1M, EBITDA $0.8M.
- Purchase price represents ~10.4x 2021 adjusted EBITDA and ~2.3x 2021 revenue.
- Financed via private placement: 1,242,588 shares at $4.62 ($5.74M) and $2.96M of 12% subordinated notes due March 30, 2025.
- Taglich entities (10%+ owners) purchased shares/notes; placement agent Taglich Brothers received $696K commission and 124,258 warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1081745/000149315222009115/0001493152-22-009115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1081745/000149315222009115/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-009115

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