08:37 AM EST, 12/18/2024 (MT Newswires) -- Inotiv ( NOTV ) said Wednesday it priced a public offering of 6 million shares at $4.25 a piece.

The underwriter was granted a 30-day option to purchase up to 900,000 more shares at the same price, Inotiv ( NOTV ) said.

The offering is expected to close on Thursday. Net proceeds would be used for working capital and general corporate purposes, the company said.

Shares were down over 18% in recent premarket activity.