Company: NEOG
Filing Date: 2025-01-10
Form Type: NT 10-Q
Source: 0000950170-25-004136
Chunk: 2

Company: NEOGEN CORP
Filing Date: 2025-01-10
Form: NT 10-Q
Chunk 2
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 shall be filed with the form.

<div align='center'>Annex A to Form 12b-25</div>

Unless the context otherwise indicates, all references in this Form 12b-25 to “Neogen,” “the Company,” “we,” “us,” and “our” refer to Neogen Corporation and, where appropriate, its consolidated subsidiaries. Also see “Cautionary Statement Regarding Forward-Looking Statements” below.

PART III – NARRATIVE

The Company is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q (“Form 10-Q”) for the quarter period ended November 30, 2024 (“Q2 FY25”), on or prior to its original due date, January 10, 2025, for the reasons set forth below.

Based on its interim goodwill impairment analysis, the Company determined that the carrying value of its Food Safety reporting unit exceeded its fair value as of September 1, 2024 and, as a result, currently expects to record an impairment charge of $461.4 million in Q2 FY25. The Company requires additional time to complete its analysis relating to the interim goodwill impairment and update its financial statements and disclosures accordingly.

The Company expects and intends that this process will be completed in time for the Company to file the Form 10-Q no later than the fifth calendar day following the prescribed due date. It is possible the review and finalization of this analysis could result in a change to the expected impairment charge of $461.4 million, although that is not currently expected by the Company. The Company expects the Form 10-Q will report a net loss of $456.3 million for the quarter ended November 30, 2024, compared to a net loss of $3.5 million for the quarter ended November 30, 2023. The goodwill impairment charge being taken in the second quarter of fiscal 2025 is the primary driver of the significant change in net loss as compared to the year-ago period.

As the Company's efforts to finalize its condensed consolidated financial statements are ongoing, such anticipated results are subject to change.

<div align='center'>Cautionary Statement Regarding Forward-Looking Statements</div>

Certain statements in this Form 12b-25, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and