secwatch.observer — SEC 8-K summary
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Issuer:     Inotiv, Inc. (NOTV)
CIK:        0000720154
Form:       8-K
Filed at:   2022-10-18T23:59:59+00:00
Accession:  0001104659-22-109709
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/720154/000110465922109709/0001104659-22-109709-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/720154/000110465922109709/tm2228406d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-109709

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