Inotiv Completes Hillcrest, UK Expansion, Secures Long-Term Contracts with New Customers
Portfolio Pulse from Benzinga Newsdesk
Inotiv, Inc. (NASDAQ:NOTV) has completed its Hillcrest, UK expansion and secured long-term contracts with new customers. The company also extended the maturity date of a $3.7 million OBRC payable note to July 2025. These developments are part of Inotiv's ongoing transformation plan initiated in 2022, which includes site closures, infrastructure investments, and a focus on growth initiatives.
June 10, 2024 | 11:37 am
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Inotiv has completed its Hillcrest, UK expansion and secured long-term contracts with new customers. The company also extended the maturity date of a $3.7 million OBRC payable note to July 2025. These developments are part of Inotiv's ongoing transformation plan initiated in 2022.
The completion of the Hillcrest expansion and securing long-term contracts are positive developments that indicate growth and stability. Extending the maturity date of the OBRC note also improves the company's financial flexibility. These factors are likely to have a positive short-term impact on NOTV's stock price.
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