Inotiv Stock Slides After Chapter 11 Plan Signals Shareholders at Risk
Inotiv shares fell 28% to $0.0866 after the company filed a prepackaged Chapter 11 plan that cancels all current equity with no payout. The restructuring aims to eliminate about $326 million in funded debt and remove Inotiv from public markets in roughly 50 days. Trading volume topped 15 million shares. The company secured $65.4 million in debtor-in-possession financing, including earlier bridge loans.