Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 183

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 183
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 timing of prepaid deposits for future NHP shipments, the shipment of NHPs and the collection of cash as it relates to the shipments to clients. 

38

Net cash used in investing activities of $4,459 in the three months ended December 31, 2024 was due to capital expenditures of $4,459. The capital additions during the three months ended December 31, 2024 primarily consisted of investments in facility improvements and site expansions to support future service revenue growth. 

Net cash used in investing activities of $4,043 in the three months ended December 31, 2023 was primarily due to capital expenditures of $5,572. The capital additions during the three months ended December 31, 2023 primarily consisted of investments in completing our DSA capacity expansions in Fort Collins, Colorado, infrastructure improvements in NHP facilities and renovations in the U.K. in order to complete expansion of Hillcrest for the new client contracts and the consolidation of Blackthorn, enhancements in laboratory technology, and improvements for animal welfare.

Net cash provided by financing activities of $26,125 in the three months ended December 31, 2024 primarily included net proceeds from the issuance of common shares of $27,524 and borrowings on the revolving credit facility of $20,000, partially offset by payments on the revolving credit facility of $20,000.

Net cash used in financing activities of $2,921 in the three months ended December 31, 2023 primarily included principal payments of $691 on the senior term notes and delayed draw term loans and other net financing payments of $2,230.

Capital Resources

Long-term debt as of December 31, 2024 and September 30, 2024 is detailed in the table below. 

December 31, 2024September 30, 2024Seller Note – Bolder BioPath (Related party)$320 $376 Seller Note – Preclinical Research Services— 464 Seller Payable - Orient BioResource Center3,235 3,700 Seller Note – Histion (Related party)48 84 Second Lien Notes19,221 17,846 Convertible Senior Notes111,551 109,979 Term Loan Facility, DDTL and Incremental Term Loans272,327 272,840 Total debt before unamortized debt issuance costs$406,702 $405,289 Less: Debt issuance costs not amortized(10,687)(11,950)Total