Inotiv, Inc. (NOTV) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 5.32% of current shares
Recent Dilution: 38.99% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
35M
Potential Supply
1.8M
Additional shares possible
Splits
None
Past 2 years

Summary

NOTV currently has 34.7M outstanding shares. with limited dilution risk as only 1.84M additional shares (5.3%) are authorized for issuance. The company has significantly diluted shareholders by 38.99% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 34.7M shares outstanding

35M 1.8M
Dec 05, 2025

10-K filing | 32.5M shares outstanding

32M 4M
Aug 29, 2025

S-3 filing: Inotiv, Inc. is offering common shares with an aggregate offering price of up to $50.0 million through an at-the-market offering via Jefferies, with net proceeds intended for working capital and general corporate purposes.

34M 2.1M
Aug 07, 2025

10-Q filing | 34.4M shares outstanding

34M 2.1M
May 08, 2025

10-Q filing | 34.0M shares outstanding

34M 2.5M
Feb 06, 2025

10-Q filing | 33.9M shares outstanding

34M 2.6M
Dec 18, 2024

8-K filing: Inotiv, Inc. entered into an underwriting agreement for a public offering of 6,000,000 common shares at $4.25 per share, with an option for the underwriter to purchase an additional 900,000 shares. ($25.5M proceeds)

26M 11M
Dec 04, 2024

10-K filing | 25.9M shares outstanding

26M 11M
Oct 03, 2024

S-3 filing: This is an S-3 filing that discusses warrants, equity incentive plans, and convertible senior notes.

26M 11M
Sep 19, 2024

8-K filing: Inotiv, Inc. issued $22.0 million in Senior Secured Second Lien PIK Notes and warrants to purchase 3,946,250 common shares to certain investors, and $0.6 million in notes and warrants to purchase 200,000 common shares to a structuring agent, in exchange for cash and cancellation of existing convertible notes.

26M 11M
Aug 09, 2024

10-Q filing | 26.0M shares outstanding

26M 11M
May 15, 2024

10-Q filing | 25.8M shares outstanding

26M 11M
Feb 07, 2024

10-Q filing | 25.8M shares outstanding

26M 11M
Dec 12, 2023

10-K filing | 25.6M shares outstanding

26M 11M
Aug 11, 2023

10-Q filing | 25.7M shares outstanding

26M 11M
May 15, 2023

10-Q filing | 25.7M shares outstanding

26M 11M
Feb 14, 2023

10-Q filing | 25.6M shares outstanding

26M 11M
Jan 13, 2023

10-K filing | 24.4M shares outstanding

24M 12M
Aug 25, 2022

S-3/A filing: This is an S-3/A filing to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act. The registrant amends the registration statement to delay its effective date.

16M 21M
Aug 18, 2022

S-3 filing: The filing is an S-3 shelf registration for multiple types of securities up to $350 million and includes an offering of 6,964,728 common shares by selling shareholders.

16M 21M
Aug 12, 2022

10-Q filing | 15.9M shares outstanding

16M 0
Jul 20, 2022

RW filing: The Registrant has determined not to pursue the public offering and withdraws the Registration Statement.

25M 0
May 16, 2022

10-Q filing | 25.3M shares outstanding

25M 0
Feb 16, 2022

10-Q filing | 24.3M shares outstanding

24M 0
Jan 31, 2022

8-K filing: Inotiv, Inc. acquired Orient BioResource Center, Inc. for $28.2 million in cash and 677,339 shares of Inotiv's common stock and also amended its credit agreement to increase the term loan facility by $40.0 million and establish a new $35.0 million delayed draw term loan facility.

16M 0
Jan 13, 2022

8-K filing: Inotiv, Inc. acquired Integrated Laboratory Systems, LLC for $38.8 million in cash and 429,118 shares of Inotiv's common stock.

16M 0
Dec 23, 2021

S-1 filing: S-1 filing for offering of common shares.

16M 0
Dec 21, 2021

10-K filing | 15.9M shares outstanding

16M 0
Nov 05, 2021

8-K filing: Inotiv, Inc. completed the acquisition of Envigo RMS Holding Corp. on November 5, 2021, issuing 8,245,918 common shares to Envigo stockholders and increasing the number of authorized common shares from 19,000,000 to 74,000,000.

15M 0
Sep 28, 2021

8-K filing: Joseph E. Flynn, former Chief Commercial Officer of Inotiv, Inc., terminated his employment on September 8, 2021, and entered into a Separation and Release Agreement on September 27, 2021, where he will forfeit unvested stock options and restricted stock awards and will be entitled to exercise 7,000 outstanding stock options until October 8, 2021.

15M 0
Sep 21, 2021

8-K filing: Inotiv, Inc. entered into a definitive agreement to acquire Envigo RMS Holding Corp. through a merger involving cash consideration of $200 million and 9,365,173 Inotiv common shares. ($285.0M proceeds)

15M 0
Aug 13, 2021

10-Q filing | 14.7M shares outstanding

15M 0
May 14, 2021

10-Q filing | 15.8M shares outstanding

16M 0
May 06, 2021

8-K filing: The Company issued 1,588,235 common shares to the Selling Shareholders at the Closing, relying on the exemption provided by Section 4(a)(2) of the Securities Act.

11M 0
Apr 21, 2021

8-K filing: Inotiv, Inc. announced a public offering of 2,647,059 common shares at $17.00 per share, with net proceeds of approximately $42.5 million, to finance acquisitions and for general corporate purposes, with the offering expected to close on or about April 23, 2021. ($45.0M proceeds)

11M 0
Apr 19, 2021

8-K filing: Inotiv, Inc. entered into an Asset Purchase Agreement with HistoTox Labs, Inc. to acquire substantially all of its assets and an Agreement and Plan of Merger with Bolder BioPATH, Inc. ($27.0M proceeds)

11M 6.1M
Feb 19, 2021

S-3 filing: The filing is an S-3 form registering an indeterminate amount of common shares, preferred shares, warrants, and/or units for sale, with an aggregate offering price not to exceed $100,000,000.

11M 6.1M
Feb 10, 2021

10-Q filing | 10.7M shares outstanding

11M 0
Dec 22, 2020

10-K filing | 10.4M shares outstanding

10M 0
Aug 14, 2020

10-Q filing | 10.3M shares outstanding

10M 0
May 14, 2020

10-Q filing | 10.3M shares outstanding

10M 0
Feb 14, 2020

10-Q filing | 10.8M shares outstanding

11M 0
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