Inotiv tumbles on pricing stock offering
** Shares of contract research firm Inotiv NOTV.O down 18% premarket to $4.55 after overnight follow-on prices
** West Lafayette, Indiana-based co sells 6 mln shares at $4.25, which equates to $25.5 mln gross raise
** Offering price represents 23.4% discount to stock's last close
** After the bell Tues, NOTV filed for $20 mln offering with Lake Street Capital as sole bookrunner
** Co to use net proceeds for working capital, capex and other general purposes
** With ~26 mln shares outstanding, co has ~$144 mln market cap
** Through Tues close, shares have more than tripled over the past three months and are up 51% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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