Inotiv amends credit agreement, extends FY2022 audit deadline; revolving credit frozen until conditions met

Inotiv, Inc.

Second Amendment extends deadline to provide audited FY2022 financials to Jan. 13, 2023 or 10-K filing date.
New monthly reporting: unaudited balance sheet, income statement, cash flows, 13-week cash flow forecast, KPI report.
Company must appoint a financial advisor by Jan. 13, 2023; lenders can require advisor meetings for six months.
Revolving credit access blocked until audited FY2022 financials delivered and no Material Adverse Effect is certified.
Ongoing discussions for further amendments due to issues with non-human primates imported from Cambodia.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Inotiv, Inc. amended Second Amendment to Credit Agreement with the lenders party thereto and Jefferies Finance LLC, as administrative agent (effective 2022-12-29).

Action: amendment
Agreement: credit facility
Counterparty: the lenders party thereto and Jefferies Finance LLC, as administrative agent
Effective: 2022-12-29

Exact text from the filing

On December 29, 2022, Inotiv, Inc. (the “Company”), certain subsidiaries of the Company (the “Subsidiary Guarantors”), the lenders party thereto, and Jefferies Finance LLC, as administrative agent (the “Agent”), entered into a Second Amendment (“Amendment”) to the Credit Agreement, dated November 5, 2021, as amended by that First Amendment on January 27, 2022 (as amended, the “Credit Agreement”).

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Inotiv, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-001503

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