secwatch.observer — SEC 8-K summary
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Issuer:     Inotiv, Inc. (NOTV)
CIK:        0000720154
Form:       8-K
Filed at:   2024-09-19T23:59:59+00:00
Accession:  0001628280-24-040852
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inotiv amends credit agreement, issues $22.6M 15% PIK notes, gets covenant relief through June 2025
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- $22.6M of 15% PIK notes due 2027 issued for $17M cash and $8.3M convertible note cancellation.
- Credit agreement amended: financial covenant waiver through June 30, 2025; new tests start Q4 FY2025.
- Warrants to purchase 4.146M shares at $1.57/share, exercisable until Sept 2034.
- Interest on notes paid in kind (PIK); notes are senior secured second lien, mature Feb 4, 2027.
- Structuring agent receives $0.6M additional notes and 200K warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/720154/000162828024040852/0001628280-24-040852-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/720154/000162828024040852/notv-20240913.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-040852

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer