Inotiv delisted from Nasdaq following chapter 11 bankruptcy filing
Inotiv, Inc. was delisted from Nasdaq on June 11, 2026, following its voluntary chapter 11 bankruptcy petition filed on June 3, 2026. The company does not intend to appeal the delisting determination. On the same closing date, Inotiv entered into a $65.5 million debtor-in-possession credit facility consisting of $25 million in new money term loans and a $40.5 million roll-up of prepetition bridge facility loans, bearing interest at Adjusted Term SOFR plus 11.5% and subject to upfront premiums of 3.5% to 4.5%.
Key facts
- Delisting determination issued by Nasdaq on June 4, 2026
- Trading suspended at opening of business on June 11, 2026
- Chapter 11 petition filed June 3, 2026 in U.S. Bankruptcy Court for the Southern District of Texas
- DIP Credit Agreement dated June 5, 2026
- DIP Facility aggregate principal amount of $65.5 million
- New Money Term Loans of $25,000,000 ($16,000,000 immediately available, $9,000,000 delayed draw)
- Roll-Up Loans of $40,521,753.47
- Interest rate: Adjusted Term SOFR (floor 2.5%) plus 11.5%, payable in kind
- New Money Loans upfront premium 4.5%; Roll-Up Loans upfront premium 3.5%
- Administrative Agent: Acquiom Agency Services LLC
- Company does not intend to appeal delisting determination
Why it matters
The delisting removes Inotiv's common shares from Nasdaq listing and registration, marking a critical point in the company's chapter 11 restructuring, while the concurrent DIP financing provides liquidity to fund operations during the bankruptcy proceeding and the anticipated emergence on an exit term loan facility.
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Derived from 8-K filed 2026-06-08. Not investment advice. View the source filing on SEC.gov →