algoma really is just the type of company we were looking for.pany that has real revenues, is generating tremendous cash flow. the valuation we are merging with algoma at is only 1.9 times enterprise value, which is just remarkable. the valuation of the company is $1.7 billion. they are expecting $901 million this year. we think the company has great management. it's a company with there is tremendous tailwinds. steel prices are at record highs. we think that will be a great combination for our shareholders. matt: talk about the pipe, eric. what kind of private placement, what kind of investor involvement have you got here? eric: we raised $100 billion. we have $236 million, u.s. dollars and are spac. in -- in our spac. also from a number of other professional investors that have bought non-, at $10. that validates the number put on the company. amanda: there will be those who wonder about the cyclical nature of the business and your ability to get enough deficiencies out of is given where steel prices are now and where they might go. i assume yo