Inotiv, Inc. Announces Closing of Public Offering and Full Exercise of Underwriter’s Option to Purchase Additional Shares

WEST LAFAYETTE, Ind., April 23, 2021 (GLOBE NEWSWIRE) -- Inotiv, Inc. (NASDAQ:NOTV) (the “Company”, “We”, “Our” or “Inotiv”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services, today announced the closing of an underwritten public offering of 3,044,117 of its common shares, including 397,058 common shares sold pursuant to the full exercise by the underwriter of its option to purchase additional shares to cover over-allotments. All of the shares were sold at a price to the public of $17.00 per share. The gross proceeds to the Company from this offering, before deducting the underwriting discount and offering expenses payable by the Company, were approximately $51.7 million.

Colliers Securities LLC acted as Bookrunner and Sole Underwriter.

The common shares were offered pursuant to an effective shelf registration statement and base prospectus that was declared effective by the Securities and Exchange Commission (the “SEC”) on March 1, 2021. The common shares were offered only by means of a prospectus. A final prospectus supplement and accompanying prospectus were filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting Colliers Securities LLC, 90 South Seventh Street, Suite 4300, Minneapolis, Minnesota 55402 or by email at prospectus@colliers.com.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About the Company

Inotiv, Inc., is a pharmaceutical development company providing contract research services and monitoring instruments to emerging pharmaceutical companies and the world's leading drug development companies and medical research organizations. The Company focuses on developing innovative services supporting its clients’ discovery and development objectives for improved decision-making and accelerated goal attainment. The Company’s products focus on increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Visit inotivco.com for more information about the Company.