Inotiv, Inc. Launches Proposed Public Offering of Common Shares
Inotiv (NOTV), a contract research organization focused on nonclinical and analytical drug discovery services, has announced a proposed underwritten public offering of common shares. The company will offer all shares and plans to grant underwriters a 30-day option to purchase up to 15% additional shares. Lake Street Capital Markets is serving as the sole book-running manager for the offering.
The offering is subject to market conditions, with no guarantee of completion or final terms. It will be conducted under a shelf registration statement on Form S-3 that was declared effective by the SEC on August 31, 2022.
Inotiv (NOTV), un'organizzazione di ricerca contratuale focalizzata su servizi di scoperta di farmaci non clinici e analitici, ha annunciato un'offerta pubblica proposta sottoscritta di azioni comuni. L'azienda offrirà tutte le azioni e prevede di concedere ai sottoscrittori un'opzione di acquisto aggiuntiva del 15% per un periodo di 30 giorni. Lake Street Capital Markets funge da unico manager per la gestione dell'offerta.
L'offerta è soggetta alle condizioni di mercato, senza garanzia di completamento o termini finali. Sarà condotta sotto una dichiarazione di registrazione a scaffale sul Modulo S-3, dichiarata efficace dalla SEC il 31 agosto 2022.
Inotiv (NOTV), una organización de investigación por contrato centrada en servicios de descubrimiento de fármacos no clínicos y analíticos, ha anunciado una propuesta de oferta pública suscrita de acciones comunes. La empresa ofrecerá todas las acciones y planea otorgar a los suscriptores una opción de compra adicional del 15% por un período de 30 días. Lake Street Capital Markets actúa como el único administrador de la oferta.
La oferta está sujeta a las condiciones del mercado, sin garantía de finalización ni términos definitivos. Se llevará a cabo bajo una declaración de registro en estante en el Formulario S-3, que fue declarado efectivo por la SEC el 31 de agosto de 2022.
Inotiv (NOTV)는 비임상 및 분석 약물 발견 서비스에 중점을 둔 계약 연구 기관으로, 일반 주식의 공모 인수 제안을 발표했습니다. 회사는 모든 주식을 제공하며 인수인에게 최대 15%의 추가 주식을 구매할 수 있는 30일 옵션을 부여할 계획입니다. Lake Street Capital Markets는 이번 공모의 유일한 북런닝 매니저로 활동하고 있습니다.
이번 공모는 시장 상황에 따라 달라지며, 완료나 최종 조건에 대한 보장은 없습니다. 이는 2022년 8월 31일 SEC에 의해 효력이 발생된 S-3 양식의 선반 등록 성명서에 따라 진행됩니다.
Inotiv (NOTV), une organisation de recherche contractuelle axée sur des services de découverte de médicaments non cliniques et analytiques, a annoncé une offre publique souscrite d'actions ordinaires. L'entreprise proposera toutes les actions et prévoit d'accorder aux souscripteurs une option d'achat supplémentaire de 15 % pendant une période de 30 jours. Lake Street Capital Markets est le gestionnaire unique de l'offre.
L'offre est soumise aux conditions du marché, sans garantie d'achèvement ni de conditions finales. Elle sera réalisée sous une déclaration d'enregistrement de type 'shelf' sur le formulaire S-3, qui a été déclarée efficace par la SEC le 31 août 2022.
Inotiv (NOTV), eine auf nichtklinische und analytische Arzneimittelentdeckungsdienste fokussierte Vertragsforschungsorganisation, hat ein Vorschlag für ein unterzeichnetes öffentliches Angebot von Stammaktien bekannt gegeben. Das Unternehmen wird alle Aktien anbieten und plant, den Underwritern eine 30-tägige Option zu gewähren, um bis zu 15% zusätzliche Aktien zu kaufen. Lake Street Capital Markets fungiert als alleiniger Book-Running-Manager für das Angebot.
Das Angebot unterliegt den Marktbedingungen, ohne Garantie für den Abschluss oder endgültige Bedingungen. Es wird unter einer Shelf-Registrierungsanmeldung auf dem Formular S-3 durchgeführt, die am 31. August 2022 von der SEC für wirksam erklärt wurde.
- None.
- Potential shareholder dilution from new common share offering
- Uncertainty regarding offering completion and final terms
Insights
This public offering announcement signals significant capital-raising activity that could substantially impact Inotiv's financial structure. The offering of common shares will dilute existing shareholders' ownership but provides important funding for potential growth initiatives. The inclusion of a 15% overallotment option suggests confidence in market demand. Lake Street Capital Markets' involvement as sole book-runner indicates a targeted approach to institutional investors.
With a current market cap of
The CRO (Contract Research Organization) sector remains highly competitive, making capital structure and financial flexibility important for maintaining market position. This offering represents a strategic move to strengthen Inotiv's balance sheet in a market where scale and technological capabilities are increasingly important. The company's focus on nonclinical and analytical drug discovery services positions it in a growing segment of the pharmaceutical research market.
However, market timing for this offering may face challenges given current market conditions and investor sentiment toward small-cap biotech service providers. The success of this offering could significantly influence Inotiv's ability to compete effectively and pursue growth opportunities in the evolving drug development services landscape.
WEST LAFAYETTE, Ind., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced commencement of a proposed underwritten public offering of its common shares. All the shares will be offered by the Company. The Company also expects to grant the underwriters a 30-day option to purchase additional common shares in an amount of up to
Lake Street Capital Markets, LLC is acting as the sole book-running manager for the proposed offering.
A shelf registration statement on Form S-3 relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on August 31, 2022. Before you invest, you should read the prospectus in the registration statement and related preliminary prospectus supplement that the Company filed with the SEC for more complete information about the Company and this offering. An electronic copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering are available on the SEC website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may also be obtained from Lake Street Capital Markets, LLC, Attn: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by calling (612) 326-1305.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About the Company
Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company’s products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs and medical devices to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical research and development projects, all while working together to build a healthier and safer world.
Forward-Looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, statements regarding our expectations about the completion, terms, size and timing of the public offering, and with respect to granting the underwriter a 30-day option to purchase additional shares. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions, the satisfaction of customary closing conditions related to the public offering, and those factors detailed in the Company's filings with the U.S. Securities and Exchange Commission. Further discussion of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in our Annual Report on Form 10-K as filed on December 4, 2024, as well as other filings we make with the Securities and Exchange Commission.
| Company Contact | Investor Relations |
| Inotiv, Inc. | LifeSci Advisors |
| Beth A. Taylor, Chief Financial Officer | Steve Halper |
| (765) 497-8381 | (646) 876-6455 |
| Beth.Taylor@inotivco.com | shalper@lifesciadvisors.com |
FAQ
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