NowVertical Group Inc (TSE:NOW) has released an update.
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NowVertical Group Inc. has successfully settled a CAD$2.35 million debt with the former shareholders of Acrotrend Solutions Ltd., including the CEO Sandeep Mendiratta, by issuing over 9 million Class A subordinate voting shares. This strategic move increases Mendiratta’s ownership to approximately 10%, reinforcing his commitment to the company’s growth and enhancing the financial stability of NowVertical. The shares issued are subject to a statutory four-month hold period and an additional six-month contractual hold period for the majority of the shares.
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