NowVertical Names Andre Garber CEO, Launches $15M Private Placement

NowVertical Group has appointed Andre Garber as its new chief executive officer while simultaneously announcing a brokered private placement of units and convertible debenture units valued at up to $15.1 million, the data and analytics company disclosed.

The dual announcement signals a leadership transition paired with a capital-raising effort, a combination companies often deploy when repositioning strategy or funding near-term growth initiatives. Garber steps into the top role at a moment when the company is seeking fresh capital through a structure that includes both equity units and convertible debt instruments, offering investors multiple entry points.

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Convertible debenture units are a common financing tool that allows investors to hold debt that can later convert into equity, typically at a predetermined price. By blending straight units with convertible debentures in a single brokered offering, NowVertical is broadening its potential investor base while managing dilution risk — a balancing act that is standard in mid-market private placements.

The brokered nature of the placement means an underwriter or agent is involved in sourcing buyers, which generally signals the company is targeting institutional or accredited investors rather than retail participants. The up-to figure of $15.1 million leaves room for the offering to close at a lower amount depending on market demand.

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