Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 129

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part II, Item 8
Chunk 129
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 liabilities$3,191 $11,392 The weighted average remaining lease term and discount rate for the Company’s operating leases as of December 31, 2024 and 2023 were:December 31, 2024December 31, 2023Weighted-average remaining lease term (in years)Operating lease9.148.96Weighted-average discount rate (in percentages) Operating lease12.47 %11.75 %Lease duration was determined utilizing renewal options that the Company is reasonably certain to execute.As of December 31, 2024, maturities of operating lease liabilities for each of the following five fiscal years and a total thereafter were as follows:Operating Leases2025 (remainder of fiscal year)$8,035 202611,739 20279,786 20288,619 20297,870 Thereafter48,342 Total minimum future lease payments94,391 Less interest(43,298)Total lease liability51,093 

10.    EQUITY, STOCK-BASED COMPENSATION AND LOSS PER SHARE

Authorized SharesOn November 4, 2021, the Company’s shareholders approved an amendment to the Company’s Second Amended and Restated Articles of Incorporation to increase the number of authorized shares from 20,000,000 shares, consisting of 19,000,000 common shares and 1,000,000 preferred shares, to 75,000,000 shares, consisting of 74,000,000 common shares and 1,000,000 preferred shares. Approval of this matter by the Inotiv shareholders was a condition to the closing of the Envigo acquisition. The amendment was effective on November 4, 2021.As of December 31, 2024 and September 30, 2024, no preferred shares were outstanding.Offering

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On December 18, 2024, the Company entered into the Underwriting Agreement as discussed in Note 1 - Description of the Business and Basis of Presentation, relating to the public offering of 6,000,000 common shares at a purchase price per share to the public of $4.25. Pursuant to the Underwriting Agreement, the Company granted the Underwriter a 30-day option to purchase up to an additional 900,000 common shares at the Offering Price, less underwriting discounts and commissions, which option was exercised in full and closed on December 30, 2024. Net proceeds