Inotiv (NOTV) Registration Filing summary

Company overview and business model

• Operates as a contract research organization (CRO) providing nonclinical and analytical drug discovery and development services to pharmaceutical, medical device, academic, and government clients.

• Offers research-quality animals, specialized models, and related products through its Research Models and Services (RMS) segment.

• Strategic acquisition of Envigo RMS Holding Corp. in 2021 expanded its research model platform and service capabilities.

Financial performance and metrics

• Classified as a “smaller reporting company” but will lose this status beginning with the Quarterly Report for the period ending December 31, 2024.

• $22.0 million in aggregate principal amount of 15.00% Senior Secured Second Lien PIK Notes due 2027 issued in September 2024, with $8.3 million of existing convertible notes canceled.

• As of October 2, 2024, the last reported sale price of common shares was $1.93 per share.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling shareholders.

• May receive up to $6.5 million if all warrants are exercised for cash; proceeds would be used for working capital and general corporate purposes.