Short-term liquidity covenant waiver for Inotiv (NASDAQ: NOTV)

Rhea-AI Filing Summary

Inotiv, Inc. reports that its lenders have granted a waiver of the minimum liquidity covenant in its Credit Agreement for the March 20, 2026 and March 27, 2026 liquidity test dates. The waiver applies only to that covenant for those two dates, and all other terms of the Credit Agreement remain unchanged.

Positive

• None.

Negative

• Lenders granted only a short-term waiver of the minimum liquidity covenant for the March 20 and March 27, 2026 test dates, highlighting near-term liquidity pressure without providing a longer-term solution.
• The Credit Agreement was not otherwise amended, meaning underlying leverage and covenant structure remain in place, leaving the company exposed to future test dates without broader relief.

Insights

Credit and capital structure analyst

Targeted liquidity covenant waiver points to short-term financing stress.

Inotiv, Inc. obtained a waiver of the minimum liquidity covenant under its Credit Agreement for the March 20 and March 27, 2026 test dates. This suggests lenders were willing to provide temporary relief rather than trigger default-related remedies or renegotiate the broader facility.

The waiver is explicitly limited to the minimum liquidity covenant and only for those two dates, while all other provisions stay in force. That narrow scope indicates concerns centered on near-term liquidity rather than a comprehensive capital restructuring, but it still highlights pressure around those specific testing points.

Investors will likely focus on how Inotiv manages cash and covenant compliance in subsequent periods under the existing Credit Agreement. Future disclosures in company filings may clarify whether additional waivers, amendments, or refinancing steps become necessary after March 27, 2026.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 23, 2026

INOTIV, INC.

(Exact name of registrant as specified in its charter)

Indiana

0-23357

35-1345024

(State or other jurisdiction of  incorporation)

(Commission File Number)

(IRS Employer Identification No.)

2701 KENT AVENUE WEST LAFAYETTE,INDIANA						47906-1382
(Address of principal executive offices)						(Zip Code)

Registrant's telephone number, including area code: (765) 463-4527

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange  on which registered

Common Shares

NOTV

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 8.01. Other Events.

On March 23, 2026, the lenders under the Credit Agreement, dated as of November 5, 2021, among Inotiv, Inc., certain of its subsidiaries and the lenders party thereto (as amended, the “Credit Agreement”) granted a waiver of the minimum liquidity covenant under the Credit Agreement for the March 20, 2026 liquidity test date and the March 27, 2026 liquidity test date. The waiver was limited to such liquidity covenant for the indicated test dates, and none of the provisions of the Credit Agreement were amended thereby.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

						INOTIV, INC.
Date:			March 23, 2026			By:			/s/ Beth A. Taylor
									Chief Financial Officer,
									Executive Vice President

FAQ

What did Inotiv (NOTV) announce regarding its credit agreement?

Inotiv disclosed that its lenders granted a waiver of the minimum liquidity covenant in its Credit Agreement for the March 20, 2026 and March 27, 2026 liquidity test dates only, while leaving all other terms and provisions of the Credit Agreement unchanged.

Which covenant did Inotiv (NOTV) receive a waiver for?

The company received a waiver of the minimum liquidity covenant under its Credit Agreement. This waiver is explicitly limited to the minimum liquidity requirement and applies only to the liquidity test dates of March 20, 2026 and March 27, 2026 mentioned in the disclosure.

How long does Inotiv’s liquidity covenant waiver last?

The waiver covers only two specific testing dates: March 20, 2026 and March 27, 2026. Beyond those dates, the minimum liquidity covenant resumes under the original Credit Agreement terms, because no broader amendment or ongoing relaxation of the covenant was described.

Were other terms of Inotiv’s Credit Agreement changed?

No, Inotiv stated that the waiver was limited solely to the minimum liquidity covenant for the named test dates. The disclosure clarified that none of the other provisions or terms in the Credit Agreement were amended or modified in connection with this limited waiver.

Why is Inotiv’s minimum liquidity covenant waiver important for investors?

The targeted waiver indicates that lenders accommodated Inotiv around specific liquidity tests, highlighting short-term liquidity pressure. While it avoids immediate covenant issues for those dates, future compliance at later test dates remains important under the unchanged Credit Agreement structure.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.1 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.2 KB