Set aside $30M of a funding round to buy shares from employees

Nathan LatkaSo, if someone's thinking, "Wow, 20% EBITDA profit, you know, profits in 2025 on 60 million, why would he go out and do the 140 million Series C? What was your thinking?"

Alex Jekowsky… I don't know who they are, or how they're going to react. Like, we know we know each other, and we've been able to build that bond, so that was a big reason. And the other side of it, again, it's it accelerate growth, meaning pull the out years in, and being able to get into dry cleaning, and our and our shared laundry rooms in multifamily properties, we power now, you know, nearly 7,000 apartment buildings, uh shared laundry rooms, college campuses, all of that. And pushing deeper into other retail sides uh in terms of dry cleaning, alterations, etc. And we knew we need we wanted capital to do that, um and bring on a great partner to steward that next phase of growth um on the board, and then also provide liquidity for some of our employees. We did an employee tender as part of this.

Nathan LatkaWhat percent of the 140 million was for that sort of thing versus operations?

Alex JekowskyOperationally, I think it was like, we did a Series C close of 110 million and a $30 million tender, and even in the 110, there was still some some uh some secondaries there. So, I would say it wasn't uh it wasn't primarily uh for growth capital, um but definitely growth capital is helping us fuel uh a huge amount of the continued kind of accelerant of our growth.

Nathan LatkaYou just closed this in a couple months ago, 90 days ago. Are you comfortable sharing what you saw in terms of valuation?