JanOne Amends Material Agreement Filing on Feb 8

TL;DR

**JanOne just amended a key agreement filing, check the details!**

AI Summary

JanOne Inc. (JAN) filed an 8-K/A on February 8, 2024, to amend a previous filing regarding a material definitive agreement. This amendment clarifies details about the agreement, which is crucial for investors as it impacts the company's future operations and financial health. Shareholders should pay attention to the specific terms of this agreement, as it could significantly influence the stock's performance and the company's strategic direction in the pharmaceutical preparations industry.

Why It Matters

This amendment provides updated information on a key agreement, which could affect JanOne's financial stability and future growth prospects, directly impacting shareholder value.

Risk Assessment

Risk Level: medium — The filing is an amendment, suggesting prior information was incomplete or incorrect, which can introduce uncertainty about the underlying agreement's implications.

Analyst Insight

Investors should review the original 8-K and this 8-K/A to understand the full scope of the material definitive agreement and any changes, as this could signal shifts in the company's strategy or financial commitments.

Key Numbers

• $0.001 — par value per share (par value of JanOne Inc.'s Common Stock)
• 702-997-5968 — business phone number (contact number for JanOne Inc.)

Key Players & Entities

• JanOne Inc. (company) — the registrant filing the 8-K/A
• 000-19621 (other) — Commission File Number for JanOne Inc.
• Nevada (other) — State of Incorporation for JanOne Inc.
• February 8, 2024 (date) — Date of earliest event reported in the 8-K/A
• The NASDAQ Stock Market LLC (company) — Exchange where JanOne Inc. Common Stock is registered

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share JAN The NASDAQ Stoc
• $0 — each obligation, as amended, was set at $0.61, subject to standard adjustments for
• $300,000 — nitial principal amount of each note is $300,000, with an interest rate of 10% per annum
• $0.58 — the 8-K filed on February 8, 2024 from $0.58 to $0.61. Item 9 - Financial Statemen
• $0.61 — filed on February 8, 2024 from $0.58 to $0.61. Item 9 - Financial Statements and Ex

Filing Documents

• jan-20240208.htm (8-K/A) — 32KB
• ex10101_icgjanonefourthame.htm (EX-10.101) — 84KB
• ex10102_livejanonefirstame.htm (EX-10.102) — 77KB
• ex10103_janonepromissoryno.htm (EX-10.103) — 94KB
• ex10104_janonepromissoryno.htm (EX-10.104) — 93KB
• 0001628280-24-004028.txt ( ) — 585KB
• jan-20240208.xsd (EX-101.SCH) — 2KB
• jan-20240208_lab.xml (EX-101.LAB) — 25KB
• jan-20240208_pre.xml (EX-101.PRE) — 13KB
• jan-20240208_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 7, 2024, JanOne Inc. (the "Company") amended two of its outstanding promissory obligations to add convertibility provisions to each. The per-share conversion price for each obligation, as amended, was set at $0.61, subject to standard adjustments for (i) stock dividends and splits, (ii) subsequent rights offerings, and (iii) pro rata distributions. The Company's board of directors provided its final approvals of the amendments on February 7, 2024. The conversion price of each amendment was set in accordance with Nasdaq Rule 5635(d)(ii) "the average Nasdaq Official Closing Price of the common stock (as reflected on Nasdaq.com) for the five trading days immediately preceding the signing of the [amendments]" (February 6, 5, 2, and 1 and January 31, 2024). Please see the Company's Fourth Amendment to Secured Revolving Line of Credit in favor of Isaac Capital Group LLC ("ICG") and the Company's First Amendment to Promissory Note in favor of Live Ventures Incorporated ("Live"). The foregoing descriptions of the amended obligations are not complete and are qualified in their entirety by reference to the full text of the amended agreements, a copy of each of which is filed herewith as Exhibits 10.101 and 10.102, respectively, to this Current Report on Form 8-K and each is incorporated by reference herein. On February 7, 2024, the Company entered into a promissory note with each of the holders of the amended promissory notes. The initial principal amount of each note is $300,000, with an interest rate of 10% per annum. One hundred thousand dollars of principal, and accrued interest thereon, for each note is due on March 7, 2024 and the balance of each note is due on December 31, 2024. At the Company's option, the obligation under each note is convertible after the six-month anniversary thereof at a per-share conversion price of $0.61, subject to standard adjustments for (i) stock dividends and splits, (ii)

- Financial Statements and Exhibits

Item 9 - Financial Statements and Exhibits

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.101 Form of Fourth Amendment to Secured Revolving Line of Credit with Isaac Capital Group LLC, dated February 7, 2024 (corrected). 10.102 Form of First Amendment to Promissory Note with Live Ventures Incorporated, dated February 7, 2024 (corrected). 10.103 Form of First Amendment to Promissory Note with Live Ventures Incorporated, dated February 7, 2024 (corrected). 10.104 Form of Promissory Note in favor of Live Ventures Incorporated, dated February 7, 2024 (corrected). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, we have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JanOne Inc. By: /s/ Tony Isaac Name: Tony Isaac Title: President and Chief Executive Officer Dated: February 9, 2024

View Full Filing

View this 8-K/A filing on SEC EDGAR