Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 55

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 7
Chunk 55
---
 investments in completing our DSA capacity expansions, infrastructure improvements in NHP facilities, renovations in the U.K. in order to complete the expansion of Hillcrest for new customer contracts and the consolidation of Blackthorn, enhancements in laboratory technology, and improvements for animal welfare. The proceeds from sales of property and equipment predominantly relate to the sales of our facilities in Blackthorn, U.K., Gannat, France, Spain and Cumberland, Virginia.

Net cash provided by financing activities was $23,701 during the fiscal year ended September 30, 2025 compared to $9,675 during the fiscal year ended September 30, 2024.

Contributing factors to financing activities for fiscal 2025 primarily included net proceeds from the issuance of common shares of $27,524 and borrowings on the revolving credit facility of $26,000, partially offset by payments on the revolving credit facility of $23,000, payments on senior term notes and delayed draw term loans of $4,945 and other financing activities of $1,878.

Contributing factors to financing activities for fiscal 2024 primarily included issuance of Second Lien Notes of $17,000 and borrowings on the revolving loan facility of $12,000, partially offset by payments on the revolving credit facility of $12,000, payments on senior term notes and delayed draw term loans of $3,454 and other financing activities of $3,871.

Inflation

We do not believe that inflation has had a material adverse effect on our business, operations or financial condition.

52

Capital Resources

Our indebtedness as of September 30, 2025 and September 30, 2024 is detailed in the table below. Refer below for discussion of the Revolving Credit Facility.

September 30, 2025September 30, 2024Seller Note – Bolder BioPath (Related party)$150 $376 Seller Note – Preclinical Research Services— 464 Seller Payable - Orient BioResource Center3,235 3,700 Seller Note – Histion (Related party)— 84 Second Lien Notes23,220 17,846 Convertible Senior Notes116,440 109,979 Term Loan Facility, DDTL and Incremental Term Loans268,654 272,840 Total debt before unamortized debt issuance costs$411,699 $405,289 Less: Debt issuance costs not amortized(9,576)(11,950)Total debt, net of un