Yup, it is solvent based: 25-50% VOC according the bit of the label I didn't cover up. White spirits to wash brushes.
Warning: Flammable liquid and vapour. Contains 2-butanone oxime and Cobalt bis(2-ethyl hexanoate). May produce an allergic reaction. Warning! Hazardous respirable droplets may be formed when sprayed. Do not breathe spray or mist. If medical advice is needed, have a product container or label to hand. Keep out of reach of children. Keep away from heat, hot surfaces, sparks, open flames and other ignition sources. No smoking. Keep the container tightly closed. Store in a well-ventilated place, and keep cool. Do not get in the eyes, on the skin, or on clothing. Wear protective gloves/protective clothing/eye protection. IF IN EYES: Rinse cautiously with water for several minutes. Remove contact lenses, if present and easy to do so. Continue rinsing. IF ON SKIN: Wash with plenty of water. Do not wash with solvent thinners or white spirit. IF SWALLOWED: Call a POISON CENTRE or doctor if you feel unwell. Ensure maximum ventilation during application and drying. When applying by brush or roller to large interior surfaces or in confined spaces, wear a suitable cartridge respirator or air-fed respiratory protective equipment. Dispose of contents/containers to waste disposal sites in accordance with local/national regulations. Safety data sheet available on request.
It is very gloopy stuff. You can lay down a coat, but if you are unhappy with a patch and want to put down some more, you have about 2 mins after first application to go over it again, else the next brushstroke will not blend with the existing one and remains as a step.