Company: NOTV
Filing Date: 2025-08-29
Form Type: S-3
Source: 0001628280-25-041413
Chunk: 15

Company: Inotiv, Inc.
Filing Date: 2025-08-29
Form: S-3
Chunk 15
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 pursuant to which the Purchasers acquired $22.0 million in aggregate principal amount of our 15.00% Senior Secured Second Lien PIK Notes due 2027 (the “Second Lien Notes”) and warrants to purchase 3,946,250 common shares (the “Warrants”) for consideration comprised of (i) $17.0 million in cash and (ii) the cancellation of approximately $8.3 million of the Notes (as defined below) held by certain of the Purchasers. In connection with the transactions contemplated by the Purchase Agreement, and pursuant to a Fee Letter between us and the structuring agent, we also issued to the structuring agent $0.6 million aggregate principal amount of the Second Lien Notes and additional Warrants to purchase 200,000 common shares as compensation for its services as structuring agent for the transactions. The transactions under the Purchase Agreement and the issuances to the structuring agent were consummated on September 13, 2024.

#### Convertible Promissory Notes
On September 27, 2021, we issued $140.0 million principal amount of our 3.25% Convertible Senior Notes due 2027 (the “Notes”). The Notes accrue interest at a rate of 3.25% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on April 15, 2022. The Notes will mature on October 15, 2027, unless earlier repurchased, redeemed or converted.

Before April 15, 2027, noteholders have the right to convert their Notes only upon the occurrence of certain events. From and after April 15, 2027, noteholders may convert their Notes at any time at their election until the close of business on the scheduled trading day immediately before the maturity date. We will settle conversions by paying or delivering, as applicable, cash, our common shares or a combination of cash and our common shares, at our election. The initial conversion rate is 21.7162 common shares per $1,000 principal amount of Notes, which represents an initial conversion price of approximately $46.05 per common share. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events. In addition, if certain corporate events that constitute a “Make-Whole Fundamental Change” (as defined in the indenture governing the Notes) occur, then the conversion rate will, in