Inotiv, Inc. Announces Expansion of Pharmacology and Pathology Offerings with Agreement to Purchase Bolder BioPATH, Inc. - Seite 2

Transaction Snapshot

Transaction Consideration	$47.0 million, consisting of (a) $18.5 million in cash, (b) a number of common shares of the Company obtained by dividing $27.0 million by the lessor of (i) the weighted average closing price of Company shares as reported by NASDAQ for the twenty trading-day period ending on the third trading day prior to the closing date and (ii) the offering price per share in any stock offering by the Company prior to the closing, and (c) a $1.5 million seller’s note.
Bolder BioPATH Financials	2020 revenue of $13.0 million
Conditions	Subject to financing and customary closing conditions
Timing	Expected to close within 120 days, pending successful financing

The union of Inotiv with Bolder BioPATH, and HistoTox Labs, Inc., which business will be acquired subject to a purchase agreement announced earlier this week, will provide clients with the ability to work with one provider having expertise across a broad portfolio of services, including:

• Pharmacology
• Toxicology
• Pathology
• Drug Metabolism
• Pharmacokinetics
• Bioanalysis
• Intravascular Device and Structural Heart Models
• Surgical and Medical Devices
• Scientific and Regulatory Consulting
  

The Company expects to retain all existing Bolder BioPATH employees after transaction close.

The transaction is subject to customary closing processes and financing. A Current Report on Form 8-K containing further details regarding the contemplated transaction will be filed by Inotiv and made available on the U.S. Securities and Exchange Commission’s EDGAR website.

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.