Inotiv, Inc (NOTV) Announces Proposed Public Offering of Common Shares
- Wall St weighed down by inflation jitters
- AT&T (T) to Merge Media Assets with Discovery (DISCA) in Blockbuster Deal, Valuation Estimated at $150 Billion
- Bitcoin (BTC) Hits 3-Month Lows Before Bouncing as Musk Confirms Tesla Has Not Sold Any BTC
- Morgan Stanley Sees a Path for Amazon.com (AMZN) to Hit $6,000 In the Next 12 Months
- Core-Mark (CORE) Receives Takeover Approach from Performance Food Group (PFGC) - Source
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Inotiv, Inc. (NASDAQ: NOTV) (the “Company”, “We”, “Our” or “Inotiv”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services, today announced that it intends to offer and sell its common shares in an underwritten public offering. In connection with this proposed offering, the Company expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the common shares to be sold in the proposed offering at the public offering price, less the underwriting discount. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering. All of the shares are being offered by the Company.
The Company intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, amounts available under its existing credit facilities and any new debt financing, to finance the aggregate cash consideration of approximately $40.5 million for the acquisitions of Bolder BioPATH, Inc. and HistoTox Labs, Inc. The Company may also use the net proceeds to pay a portion of the purchase price of approximately $4.7 million for the Company’s St. Louis facility, contingent on the Company receiving financing and obtaining related business incentives. The Company intends to use the remaining net proceeds of the offering, if any, for working capital and other general corporate purposes, which may include acquisitions or investments in complementary businesses, technologies or other assets, although the Company has no present commitments or agreements to do so (other than with respect to the Bolder BioPATH, Inc. and HistoTox Labs, Inc. acquisitions).
Colliers Securities LLC is acting as Bookrunner and Sole Underwriter.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Henry Schein (HSIC) Reports Election of Reed V. Tuckson, M.D., FACP to Board
- Electronic Arts (EA) and PGA of America Partner to Bring PGA Championship and PGA Coaches’ Expertise to EA SPORTS PGA TOUR
- SPAC Deal: Redbox to Merge With Seaport Global Acquisition Corp. (SGAM) in a $693 Million Deal
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!