Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 37

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 costs$— $— $— $70 Restructuring costs 1145 457 1,378 2,859 Startup costs591 772 1,708 2,569 Remediation costs— 231 — 883 Other costs1,467 2,442 4,619 4,780 Settlement Agreement 2— — (7,550)— Resolution Agreement and Plea Agreement 3— 2,000 — 28,500 $2,203 $5,902 $155 $39,661 1Restructuring costs represent costs incurred in connection with the Company's site closures, site optimization strategy, the in-house integration of the Company’s North American transportation operations and Phase Two of the Company's site optimization program as discussed in Note 8 – Restructuring and Assets Held for Sale.2The proceeds received in connection with the settlement agreement with Freese and Nichols, Inc. (the "Settlement Agreement") offset costs incurred to dispose of excess wastewater during previous years in addition to attorneys' fees in previous years and fiscal year 2025. Refer to Note 12 - Contingencies and Commitments for further discussion of the Settlement Agreement. 3Amounts relate to the Resolution Agreement and Plea Agreement. Refer to Note 12 - Contingencies and Commitments for further discussion of the Resolution Agreement and Plea Agreement.

8.    RESTRUCTURING AND ASSETS HELD FOR SALE

During June 2022, the Company approved and announced a plan to close its facility in Cumberland, Virginia. Further, during fiscal 2023, the Company announced restructuring and site optimization plans that included the following sites, which were identified for relocation of operations: Dublin, Virginia, Gannat, France, Blackthorn, U.K., RMS St. Louis, Missouri, Spain, Boyertown, Pennsylvania, Haslett, Michigan and Israel ("Phase One"). As of September 30, 2024, Phase One of the Company's restructuring and site optimization plans was complete.

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During the nine months ended June 30, 2025, the Company initiated the next phase of its site optimization program to further improve and consolidate additional RMS facilities in the U.S. ("Phase Two"). In connection with Phase Two, the sale of one U.S. property, which initially met the criteria for assets held for sale as of March 31, 2025, was completed in June