04:43 PM EST, 12/23/2024 (MT Newswires) -- Inotiv ( NOTV ) said late Monday it has raised about $24 million in net proceeds from an underwritten public offering of 6 million shares at $4.25 apiece.

Net proceeds will be used for working capital, capital expenditures and other general corporate purposes, the company said.

The underwriter has been given an option to buy up to 900,000 additional shares, the company said, adding the option is exercisable until Jan. 17.