Underwriters, SPAC sponsors, de-SPAC deal teams
Replace the 9-week, $1M+ pre-IPO / de-SPAC workstream. 10 core analysis tabs + 3 SPAC-conditional tabs. AI-conducted management interviews with 6 C-suite roles producing 10b-5 defense artifacts. Competitive landscape from live Exa, GitHub, EDGAR, Census, Reddit data. Every finding traceable to source, feeding into an 18-dimension weighted scorecard with GO/CONDITIONAL/NO-GO recommendation. NYSE/NASDAQ + SEBI/LODR readiness.
Replaces·Big 4 pre-IPO workstreams ($500K-$1M+, 6-9 weeks)
Capabilities
A complete workstream — prebuilt orchestrators, KPI thresholds, red-flag checks, and IC-ready outputs.
Key KPIs from L0
13 analysis tabs
Every tab is a purpose-built AI orchestrator that queries your L0 data, searches documents, and produces structured findings with source citations.
ARR/MRR bridge from L0 transactions (POSTED only). NRR by cohort, customer concentration vs SEC 10% threshold, Rule of 40 scoring, ASC 606 compliance, seasonality assessment
EBITDA normalization — SBC, IPO prep costs, restructuring add-backs. Flags add-backs >50% of adjusted EBITDA (SEC scrutiny risk). SBC as % of revenue analysis
18 dimensions across 6 weighted categories (Financial 25%, Legal 20%, Data 20%, Management 15%, Governance 10%, Market 10%). Reads ALL upstream workstream summaries. GO/CONDITIONAL/NO-GO recommendation with conditions list
Cooley Section C — cap table (options, RSUs, warrants, convertibles), debt structure, dilution waterfall at 3 IPO price points. Cross-references Earnings Quality for Debt/EBITDA
Beyond clause review — legal findings produce deal math. CoC termination flags map to revenue-at-risk (how much revenue walks if control changes). MAC clauses quantified for downside protection. Single-source vendor concentration feeds QoE adjustment. Related party >$120K flows to S-1 disclosure. SEC S-K Item 601(b)(10) compliance built in
LIVE external data — Exa AI (competitors), GitHub (tech stack), SEC EDGAR (public comps 10-K), Census NAICS (TAM), Reddit (sentiment). 5-8 competitor profiles with revenue, funding, strengths/weaknesses. Zero pre-seeding
Litigation doesn't stay in a legal memo — it flows into deal math. Pending cases valued as contingent liabilities feed the EBITDA bridge. IP portfolio assessed for defensibility and monetization. Open-source GPL/AGPL risk scan for compliance exposure. CourtListener (federal/state), USPTO PatentsView (patents), PCAOB auditor inspection. Auto-generates S-1 risk factor language
Software-conducted interviews, not consultants on-site. AI interviews 6 C-suite roles — CEO (vision), CFO (ASC 606, SOX 404), CTO (tech debt), CRO (CAC/LTV), GC (IP, data privacy), CHRO (retention risk). Real-time MNPI detection. Findings classified as CONFIRMATION, CONTRADICTION, or RED_FLAG with direct management quotes. Produces 10b-5 defense artifacts
Sponsor economics — founder shares, promote %, return multiple, earnout terms, warrants, lock-up periods. Ownership waterfall (existing/public/sponsor/PIPE)
Trust account, 4 redemption scenarios (10%/25%/50%/80%), PIPE per-investor breakdown, minimum cash condition, earnout tranches with price hurdles, deal timeline with closing conditions tracker
Two-track: extract fairness opinion (DCF, comps, precedents) AND independently verify assumptions vs L0 actuals. Flags AGGRESSIVE/REASONABLE/CONSERVATIVE
Post-listing roadmap — 5-phase agentic loop: baseline validation against L0, live benchmark fetching (Exa + Census NAICS), gap analysis (CRITICAL/HIGH/MEDIUM/LOW), 10-15 prioritized initiatives with KPIs, owners, and target dates. CRITICAL-severity gaps elevated to deal red flags
Auto-assembled IC memo across 8 sections — Executive Summary, Thesis, EBITDA Bridge, Valuation, Risks, Capitalization, Material Contracts, Legal & IP. Pure synthesis of every upstream workstream — zero re-analysis. GO / CONDITIONAL / NO-GO recommendation with valuation range and key risks ranked by $ impact
Live external data
No pre-seeding, no stale snapshots. Each analysis pulls fresh data from authoritative sources and feeds it into your deal context.
Deeper coverage
S-1/S-4 readiness checks embedded in every analysis tab
First-mover — zero competitors have India-specific features
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