Inotiv slides on stock offering launch

Inotiv

17/12/2024 21:25

** Inotiv Inc's  NOTV.O  shares down 13.5% to $4.80 post-market
as contract research firm looks to raise equity
** West Lafayette, Indiana-based co launches $20 mln stock
offering, per the SEC filing
    ** Co to use net proceeds for working capital, capex and
other general purposes
    ** Lake Street Capital sole bookrunner
    ** NOTV has ~26 mln shares outstanding giving co ~$144 mln
market cap
    ** Stock closed down 4.5% at $5.55 on Tues
    ** Shares have more than tripled over the past three months,
putting them up 51% YTD

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380 ))