Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 159

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1
Chunk 159
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 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 unamortized debt issuance costs$402,123 $393,339 Less: Current portion(402,123)(3,538)Total Long-term debt$— $389,801 

If the Company's results of operations in the twelve months following the date of this report do not improve relative to its fiscal 2025 results, it is probable that the Company will fail its financial covenants within twelve months of the balance sheet date. As a result, we have classified the Term Loan Facility, DDTL and Incremental Term Loans (each as defined below), the Notes and the Second Lien Notes as current. Refer to Note 2 - Basis of Presentation and Summary of Significant Accounting Policies to our consolidated financial statements contained in Part II, Item 8 for the Company's analysis of its liquidity and going concern, including cross-default considerations.

Refer to Note 6 - Debt to our consolidated financial statements contained in Part II, Item 8 for the combined aggregate amount of maturities over the next five years.

Summary of Activity

Fiscal 2025

We did not enter into any new debt arrangements, or amend any existing debt arrangements during fiscal 2025.  During the fourth quarter of fiscal 2025, we borrowed $6,000 under our revolving credit facility and repaid $3,000, leaving an outstanding balance of $3,000 as of September 30, 2025.

Fiscal 2024

On September 13, 2024, the Company, the Subsidiary Guarantors and the lenders party thereto entered into the Seventh Amendment and the Company and