Inotiv borrows full $35M delayed draw term loan at initial rate of 9.75%

Inotiv, Inc.

Borrowed entire $35.0M delayed draw term loan under existing credit agreement.
Interest rate: LIBOR + 6.00-6.50% margin; initial rate 9.75% (LIBOR 3.50% + 6.25%).
Required annual principal payment of 1% of original amount; maturity Nov 5, 2026.
Financial covenants: max Secured Leverage Ratio 4.25x stepping down to 3.00x by Mar 2025; min Fixed Charge Coverage 1.00x (first year) then 1.10x.
Loan secured by all assets of company and subsidiaries; guaranteed by subsidiary guarantors.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.