Leonid is providing non-dilutive financing of approximately $10M in available capital for contract capture and expansion purposes. The facility is backed by Vita’s Federal and Commercial accounts receivable and Federal Contract Awards. Leonid is recognized by the United States Department of Defense as a DOD Trusted Capital Provider of non-dilutive finance to companies in the U.S. National Security and Space Industries.
“As a Department of Defense Trusted Capital Provider, we specialize in allocating unique financial services, and given Vita’s incredible growth and inroads into the U.S. Federal Government—we are well-aligned,” said Christopher Lay, CEO of Leonid. “Vita wants to expand and can now easily do so by leveraging our working capital facility while avoiding taking any further equity dilution of its shareholder base.”
Vita Inclinata Technologies’s partnership with Leonid also allows the company to prepare for known costs and not react in a way that would limit financial flexibility while allowing them to leverage contract assets to expand operations.