Matter Activity

10 engagements · 3 active · 7 prospective · 4 need you today

Project Atlas

M&A buy-side · representing Meridian Holdings in acquisition of TechCo Industries · $420M

ClientMeridian Holdings
CounterCravath
TeamSRMCLHRK
Sign
Jun 12
Close
Aug 30
WIP
$84.2k
Budget
68%
State of play
  • Two redline rounds with Cravath this week
  • §8.4 indemnity cap still open — buyer at 15%, seller at 10%
  • DD agent flagged 3 environmental items · review before Thursday
  • Antitrust filing prep on track for Jun 4
§8.4 Indemnity capHot
Open · 2wk · 6 exchanges
Us10% of PP
Them15% of PP
§5.12 Employee mattersNew
Open · received today from Cravath
§7.3 Working capital adj.Open
Open · 3d · 2 exchanges
Us90-day true-up
Them120-day
Antitrust strategyResolved
Closed Mon · HSR filing track
Outside dateResolved
Closed last wk · Sep 30
Merger Agreement v6New
Returned by Cravath · 2h ago
Disclosure Schedules v3Out
Sent to client · 9:02a
Environmental DD memoDraft
Agent draft · 10:15a
HSR FormQueued
Agent · awaiting approval
You · today
Review environmental DD findings before Thu call
M. Chen · today
Final pass on disclosure schedules
Agent · queued
HSR antitrust filing prep
Engagement signedApr 8
NDA executedApr 12
LOI signedApr 28
Diligence kickoffMay 5
Term sheet executedMay 18
First draft circulatedMay 22
Negotiating definitiveNow
SignJun 12
CloseAug 30
SR
Sasha Rivera
Partner · lead
$54.0k
92h
MC
M. Chen
Associate
$18.3k
110h
LH
L. Hassan
Sr. Associate
$9.0k
35h
RK
R. Kim
Junior
$3.0k
22h
Total · 259h$84.2k
11:42a
CravathReturned redline v6. §8.4 still flagged.
10:15a
DD AgentEnvironmental review · 3 issues.
09:02a
M. ChenDisclosure schedules circulated.
Yest
YouSent commercial summary to CFO.
Yest 3p
CalendarAll-hands with CFO · Thu 3pm.
Yest 11a
A. ParkUpdated cap table for lender comms.
Mon 5p
Tax AgentTax DD complete · 1 finding (NOL).
Mon 2p
CravathInitial markup of disclosure schedules.
Sun
CravathSent v5 of merger agreement.
Fri
YouInternal kickoff with antitrust team.

Meridian Refinancing

$1.2B senior credit facility refinance · representing borrower

ClientMeridian Corp
CounterGoldman + 4 lenders
TeamSRAPJO
Sign
Jul 8
Close
Jul 30
WIP
$52.7k
Budget
41%
State of play
  • Goldman's third revision of commitment papers in this morning
  • MAC carve-outs addressed; covenant package still open
  • Covenant agent flagged 7 deltas from precedent
  • Borrower CFO call needed on covenant flexibility
Negative covenant packageHot
Open · 5d · 7 deltas from precedent
MAC clause carve-outsResolved
Closed today
Restricted payments basketOpen
Open · 3d
Us$150M
Them$75M
Commitment Papers v3New
From Goldman · 8:14a
Credit Agreement draftv2
In team review
Covenant comparison memoDraft
Agent · yest
Pro forma cap tablev2
A. Park · yest
Security agreementv1
First draft · circulated
You · today
Call with Borrower CFO on covenant flexibility
A. Park · tomorrow
Markup of Goldman commitment papers
Engagement letterApr 22
Term sheetMay 2
Lender kickoffMay 10
First credit agreement draftMay 18
Commitment paper negotiationNow
Sign credit agreementJul 8
Funding dateJul 30
Refi prior facilityJul 30
SR
Sasha Rivera
Partner · lead
$32.0k
54h
AP
A. Park
Sr. Associate
$15.4k
62h
JO
J. Okafor
Associate
$5.3k
31h
Total · 147h$52.7k
08:14a
GoldmanCommitment papers v3 received.
Yest
Covenant AgentPrecedent diff · 7 deltas in neg covenants.
Yest
A. ParkUpdated pro forma cap table for lenders.
Mon
GoldmanMAC carve-out compromise proposed.
Mon
J. OkaforDrafted security agreement v1.
Fri
YouCall with CFO · prior facility refi mechanics.
Thu
Wells FargoJoined as 5th lender to facility.
Wed
Filings AgentUCC searches complete · 14 jurisdictions.

Helix Series D

$85M Series D preferred · representing company · Sequoia lead

ClientHelix Inc.
CounterCooley (for Sequoia)
TeamSRSR2
Sign
May 30
Close
Jun 6
WIP
$28.4k
Sigs
9 / 14
State of play
  • All open issues resolved Mon · final form distributed
  • 9 of 14 signatures collected · auto-reminders running
  • Wire instructions confirmed by Sequoia
  • Signing call Friday 4pm — you to lead
Pro-rata rightsResolved
Closed Mon
Liquidation preferenceResolved
1x non-participating
Board compositionResolved
5 seats · 2 investor
SPA · final formLocked
Out for signature
Amended & Restated CoILocked
For state filing post-close
Investor Rights AgtLocked
Out for signature
Officer's certificateReady
S. Reyes · circulated
S. Reyes · today
Chase 5 outstanding signatures
You · Fri 4pm
Lead signing call
Engagement letterMar 4
Term sheet signedApr 1
Diligence completeApr 22
First draft SPAMay 1
Open items resolvedMay 23
Final docs lockedMay 26
Sig collection beganMay 26
Sign & closeFri
State filingsJun 6
SR
Sasha Rivera
Partner · lead
$22.0k
37h
S2
S. Reyes
Associate
$6.4k
40h
Total · 77h$28.4k
07:55a
Closing Agent9 of 14 signed · auto-reminders sent.
Yest
S. ReyesFinal CoI uploaded; officer cert out.
Mon
CooleySequoia signature page returned.
Mon
CalendarSigning call set · Fri 4pm.
Sun
YouFinal approval on SPA form.
Fri
SequoiaConfirmed wire instructions.

Pinnacle Holdings

Potential M&A advisor mandate · referral from M. Sterling · est. $250M+ deal

ClientPinnacle Holdings
SourceReferral
TeamSRJL
Sent
May 19
Decision
~Fri
Est. fee
$800k+
Conflict
Clear
State of play
  • Proposal sent 8 days ago · referral from M. Sterling
  • CEO acknowledged · internal board review in progress
  • Decision expected by end of this week
  • Two known competitors invited to bid

Pre-engagement · no open issues yet.

Proposal deck v3Sent
Out · May 19
Fee proposalSent
Out · May 19 · fixed + premium
Sample precedent indexSent
12 comparable transactions
You · Fri
Follow up if no decision received by EOD Fri
J. Lin · ongoing
Monitor for inbound · keep team warm
Referral introMay 8
NDA exchangedMay 12
Proposal sentMay 19
Awaiting decisionNow
Engagement letter—
Kickoff—
SR
Sasha Rivera
Partner · pursuit lead
—
8h (BD)
JL
J. Lin
Biz Dev
—
12h
BD time · 20hNot billed
Mon
Pinnacle CEOAcknowledged proposal · "reviewing internally"
Sat
M. SterlingPinged · "looks well-received"
May 19
YouProposal sent · fixed fee + deal premium
May 16
J. LinFinal QA on proposal deck v3
May 12
Pinnacle GCNDA countersigned

ValleyVC Fund VII

Fund formation · $400M target · existing client expanding platform

ClientValleyVC
SourceExisting
TeamSRMC
EL sent
May 20
Kickoff
this wk
Est. fee
$1.2M
Anchor
60%
State of play
  • Engagement letter sent · awaiting countersign from GP
  • Anchor LP commitments at 60% of target
  • Kickoff call planned for this week
  • LPA drafting agent queued for first draft

Pre-engagement · scoping not started.

Engagement letterPending sig
Out · May 20 · awaiting GP
Sample LPA precedentSent
Reference for client team
Agent · queued
First-draft LPA from precedent — awaits countersign
M. Chen · this wk
Schedule kickoff with GP & CFO
Scoping discussionMay 6
Conflict clearedMay 13
EL sentMay 20
Awaiting countersignNow
Kickoffthis wk
LPA first draftJun
First closeQ3
SR
Sasha Rivera
Partner
—
5h (BD)
MC
M. Chen
Associate
—
3h
BD time · 8hNot billed
Yest
ValleyVC CFO"EL in legal review" — kickoff this wk
May 20
YouEL sent · fixed fee + per-closing premium
May 13
ConflictsClear · no overlap with portfolio
May 6
ValleyVC GPScoping call · Fund VII formation

Quanta Labs

Series C lead counsel · competitive beauty contest · $120M raise

ClientQuanta Labs
SourceRFP
TeamSRAPRK
Pitch
Jun 3
Decision
Jun 10
Est. fee
$480k
Comp
2 firms
State of play
  • Pitch presentation scheduled Tue Jun 3 in person
  • Two competitors invited (Latham & Skadden likely)
  • Drafting agent has pulled 14 comparable Series C decks
  • Pre-pitch run-through Mon morning with team

Pre-engagement.

Pitch deck v2Draft
Internal review · today
Fee proposalDraft
A. Park drafting
Precedent appendixAgent
14 deals pulled · selecting top 6
A. Park · today
Finalize pitch deck v2 for partner review
Team · Mon AM
Pre-pitch run-through & dry run
You · Tue
Lead pitch presentation in person at HQ
RFP receivedMay 14
Conflict clearedMay 16
Pitch prep begunMay 20
Final prep this wkNow
Pitch presentationJun 3
DecisionJun 10
SR
Sasha Rivera
Partner · pitch lead
—
6h (BD)
AP
A. Park
Sr. Associate
—
14h
RK
R. Kim
Junior
—
8h
BD time · 28hNot billed
Today
Drafting Agent14 Series C decks pulled · selecting top 6
Yest
A. ParkPitch deck v2 in progress
Mon
R. KimDrafted bio appendix
Sat
Quanta CEOConfirmed Tue 9am slot
May 16
ConflictsClear

Project Lighthouse

Inbound take-private inquiry from founder · est. $300M+ deal

ClientTBD · founder direct
SourceCold inbound
TeamSR
In
Yest
Conflict
Pending
Est. fee
$1M+
Stage
Intro
State of play
  • Founder cold outreach yesterday · take-private exploration
  • Conflict check in progress · 1 potential issue flagged
  • Founder requested initial scoping call this week
  • You haven't responded yet · waiting on conflict clearance

Pre-engagement.

Founder outreach emailInbound
Received · yest 4:12p
Conflict memoIn progress
Conflicts team · 1 potential
You · today
Review conflicts memo when ready
You · once cleared
Respond to founder & schedule scoping call
Inbound receivedYest
Conflicts in progressNow
Founder response—
Scoping call—
Proposal—
SR
Sasha Rivera
Partner
—
1h (BD)
BD time · 1hNot billed
10:30a
Conflicts1 potential overlap flagged · GC investigating
9:00a
YouRouted to conflicts team
Yest 4p
InboundFounder reached out cold · take-private inquiry

Apex Industrial

Spin-off of materials division · CFO contact · est. $500M+ carve-out

ClientApex Industrial
SourceBanker (Lazard)
TeamSR
Intro
May 13
RFP
TBD
Est. fee
$1.5M+
Stage
Intro
State of play
  • Intro call with CFO held 2 weeks ago via Lazard
  • CFO indicated formal proposal would be requested
  • No RFP timing yet · soft follow-up needed this week
  • Lazard MD encouraging us to stay engaged

Pre-engagement.

Intro call notesInternal
From May 13 call
Carve-out diligence listDraft
Prep for proposal
You · this wk
Soft follow-up with Lazard MD on RFP timing
Banker introMay 8
CFO intro callMay 13
Awaiting RFP timingNow
Proposal submitted—
Engagement—
SR
Sasha Rivera
Partner
—
3h (BD)
BD time · 3hNot billed
May 20
M. SterlingLazard MD encouraged us to stay engaged
May 13
Apex CFOIntro call · spin-off planning · 45min
May 8
InboundLazard banker intro email

Riverside Partners

PE secondaries platform formation · standing counsel role · $600k Y1

ClientRiverside Partners
SourceBeauty contest
TeamSRLH
Sent
May 15
Decision
~Jun 5
Est. fee
$600k
Comp
3 firms
State of play
  • RFP response submitted 12 days ago
  • No formal response yet · gentle nudge sent Mon
  • Three other firms also in the running
  • Recurring relationship could compound over time

Pre-engagement.

RFP responseSent
Out · May 15
Fee scheduleSent
Tiered + capped per matter
Team bios appendixSent
Practice group leads · 8 bios
You · monitor
Hold for response · escalate via Sterling if silent by Jun 5
RFP receivedMay 1
Response submittedMay 15
Awaiting decisionNow
Final-round meeting—
Engagement—
SR
Sasha Rivera
Partner
—
11h (BD)
LH
L. Hassan
Sr. Associate
—
9h
BD time · 20hNot billed
Mon
YouGentle nudge to Riverside ops contact
May 15
YouRFP response submitted
May 1
InboundRFP received via secondaries network

Coastal Energy

Potential restructuring mandate · banker referral · no follow-up

ClientCoastal Energy
SourceBanker
TeamSR
Intro
May 6
Last
May 6
Est. fee
unknown
Stage
Intro
State of play
  • Initial conversation 3 weeks ago via banker intro
  • Two follow-ups sent with no response
  • Situation likely resolved internally or chose another firm
  • Recommend soft check-in or archive

Pre-engagement.

Banker intro emailInbound
Original referral · May 1
You · optional
Soft check-in to GC, or archive the lead
Banker introMay 1
Intro call heldMay 6
Response—
Archive or revive—
SR
Sasha Rivera
Partner
—
2h (BD)
BD time · 2hNot billed
May 14
YouSecond follow-up · no response
May 9
YouFirst follow-up · no response
May 6
Coastal GCIntro call · restructuring options