8-K
filed May 18, 2026, 8:17 AM ET
ticker NOTV
CIK 0000720154
other material
confidence high
sentiment negative
materiality 0.85
Inotiv obtains $40M bridge, waives Q2 leverage, forms strategic committee, settles cyber class action
Inotiv, Inc.
- Entered $40M bridge facility; borrowed $27.5M to repay all outstanding revolving loans (~$14.3M) and terminate revolver commitments.
- Lenders waived first lien net leverage ratio test for Q2 2026; minimum fixed charge covenant set at 1.00:1.00 from June 2026.
- Board appointed Eugene Davis and John T. Young to form Special Committee to evaluate strategic alternatives, including recapitalization.
- Missed $2.139M interest payment on 3.25% convertible notes due 2027; Supplemental Indenture extended grace period to May 29, 2026.
- Reached proposed settlement for August 2025 cyber incident privacy class action; payments expected fully covered by insurance.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Eugene Davis was appointed as Director at Inotiv, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed Eugene Davis and John T. Young, Jr. to the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John T. Young, Jr. was appointed as Director at Inotiv, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed Eugene Davis and John T. Young, Jr. to the Board
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Inotiv, Inc.: Fifth Amended and Restated Bylaws adopted with provisions requiring unanimous board votes for removal of Special Committee members, amendment of Special Committee charter, and amendment of bylaws affecting Special Committee rights (effective 2026-05-14).
- Change
- bylaw amendment
- Effective
- 2026-05-14
Exact text from the filing
On May 14, 2026, the Board approved certain amendments to the Company’s Fourth Amended and Restated Bylaws, effective as of that date, in the form of the Fifth Amended and Restated Bylaws. The amendments are related to Special Committee matters, including that the removal of any Special Committee member from the Special Committee shall require the unanimous vote of the members of the Board, other than the member of the Special Committee who is being considered for removal; that any amendment of the Special Committee’s charter shall require the unanimous vote of the Board; and that the Bylaws may not be amended, repealed, or otherwise modified in a manner which affects the rights, powers, or privileges of the Special Committee and its members without the unanimous vote of all members of the Board.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Inotiv, Inc. amended Ninth Amendment with Acquiom Agency Services LLC valued at $40.0 million (effective 2026-05-14).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Acquiom Agency Services LLC
- Value
- $40.0 million
- Effective
- 2026-05-14
Exact text from the filing
Inotiv, Inc. (the “Company”) entered into a Ninth Amendment to Credit Agreement (the “Ninth Amendment”), which amends that certain Credit Agreement, dated as of November 5, 2021
View on SEC.gov
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