David Leeds

Yeah, I mean, I think for us, it was pretty clear.

We had done a very early 500K facility with them back in maybe 2012.

With Lighter?

No, no, no.

With WTI.

And so as following that, they were also an equity investor in the company.

So we have a long history with their partnership or their CEO.

And given the size of the round and frankly, the speed at which we can do it with them, it was it was a pretty easy decision.

Yeah, I mean, venture debt obviously is quite a bit different than equity, but the way it works is it's a loan that you're required to pay back.

And so we have the ability to make a total investment of $10 million, and then we pay an interest rate on that back to WTI over the course of three years.

Is it high or is it in like 8% range?

It's slightly north of 8%, yes.

Then we basically pay that back over the course of about 36 months, both principal and interest.

The benefit, of course, is that there's no dilution from an equity perspective taking that capital.

You're able to continue building value, but then the reality, if you want to call it that, is just that

you have to pay it back, where with equity, obviously the expectation is that that payback comes to the form of an higher equity value at the time of an exit.

Yeah, great question.

So for us, it's three things.

It's product expansion.

It's expansion, both engineering and sales as a result of that.