Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 149

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 8
Chunk 149
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 to have a fair value of $3,325 as of January 27, 2022. The Seller Payable did not bear interest and was originally required to be paid to the Seller 18 months after the closing date of January 27, 2022. The Company has the right to set off against the Seller Payable any amounts that become payable by the Seller on account of indemnification obligations under the purchase agreement. On April 4, 2023, the Company and the Seller entered into a First Amendment to extend the maturity date of the Seller Payable to July 27, 2024. On May 24, 2024, the Company and the Seller entered into a Second Amendment to extend the maturity date of the Seller Payable to July 27, 2025. Further, beginning on July 27, 2024, the note bears interest at a rate of 4.60% per annum. Accrued interest and principal will be paid at the maturity date. On October 24, 2024, the Company and the Seller entered into a Third Amendment to extend the maturity date of the Seller Payable to January 27, 2026. No amendments to the Seller Payable have affected the rights and remedies of any party under the stock purchase agreement, nor did any alter, modify or amend or in any way affect any of the terms and conditions, obligations, covenants or agreements contained in the stock purchase agreement. As part of the acquisition of Histion, LLC ("Histion") the Company issued unsecured subordinated promissory notes payable to the former shareholders of Histion in an aggregate principal amount of $433. The promissory notes bore interest at a rate of 4.50% per annum, with monthly payments of principal and interest and a maturity date of April 1, 2025. The promissory notes were paid in full as of April 1, 2025.5.    SUPPLEMENTAL BALANCE SHEET INFORMATIONTrade receivables and contract assets, net consisted of the following: June 30,September 30,2025 2024Trade receivables$74,576 $65,867 Unbilled revenue10,614 14,624 Total85,190 80,491 Less: Allowance for credit losses(6,445)(6,931)Trade receivables and contract assets, net of allowances for credit losses$78,745 $73,560