Valtec's Two Year Share Purchase

The deal was pretty simple at the end of the day. It was based on multiples of revenue, so roughly 1.1 times revenue was where we ended up. And the structure was substantial cash up front. There was a whole back on that for 12 months and then the rest was two years. We had an opportunity to exit those shares either if we were in public, could it be in the public market or was private, we were able to exercise a put. The idea was that we had cash in hand, but then we had a second opportunity to grow with the company.

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