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NowVertical Executives Show Confidence in Growth with Major Open Market Share Purchases
Management Purchased Approximately 1.06 Million Shares Since Q3 Results Toronto, Ontario--(Ne...
About this update from Nowvertical Group Inc
[{"type":"text","content":"NowVertical Executives Show Confidence in Growth with Major Open Market Share PurchasesManagement Purchased Approximately 1.06 Million Shares Since Q3 ResultsToronto, Ontario--(Newsfile Corp. - January 14, 2025) - NowVertical Group Inc. (TSXV: NOW) (\"NowVertical\" or the \"Company\"), a leading data analytics and AI solutions provider, announces that certain members of executive management have purchased approximately 1.06 million Class A subordinate voting shares in the open market (the \"Management Purchases\"). The Management Purchases were made following the announcement of the Q3 2024 results on November 14, 2024 where the Company highlighted its near-term goal of achieving US$50 million in annual revenue run-rate and 20% EBITDA margin. These purchases were made by Sandeep Mendiratta, CEO, Shailesh Mallya, EVP of Solutions and Services, Andre Garber, Chief Development Officer and Christine Nelson, Chief Financial Officer (Interim). Including these Management Purchases, management's pro forma ownership is expected to increase to approximately 27%. \"These recent open market purchases by our management are another testament to our team's belief and commitment to our growth trajectory,\" said Sandeep Mendiratta, NowVertical's CEO. \"This commitment comes as we continue to execute on the opportunities to serve our clients' growing demands for data analytics and AI solutions, and further aligns the interests of our management team with our shareholders.\"With the substantial completion of the initial integration milestones, NowVertical also announces the appointment of the following individuals as executive officers of the Company, including: Santiago Trógolo, EVP LATAM: Santiago now leads NowVertical's operations in the Latin American market and previously served as CEO of CoreBI (acquired by NowVertical in February 2022)Shailesh Mallya, EVP of Solutions and Services: Shailesh, co-founder and former Chief Technical Officer of Acrotrend Solutions Ltd. (acquired by NowVertical in January 2023), now leads NowVertical's North America and EMEA business operationsMostafa Hashem, EVP of Product & Tech: Mostafa, founder of Smartlytics Consultancy Ltd. (acquired by NowVertical in January 2023), is responsible for NowVertical's first party product innovation and commercialization endeavoursPankaj Ghag, EVP of Program Delivery a...