Pick how composites are weighted for you. Affects every score across the app.
Sponsored by Free & Clear Equity·
The cascade above models the blended LP view. Click a class below to view per-class economics.
“fifteen million (15,000,000) shall be serial Preferred Shares having a par value of $0.01 per share. The Board of Directors of the Corporation shall have authority to fix by resolution or resolutions the designations and the powers, preferences and relative, participating, optional or other special rights, qualifications, limitations or restrictions thereof, including, without limitation, the voting rights, the dividend rate, conversion rights, redemption price and liquidation preference, of any series of Preferred Shares”— PPM p. 2
“three hundred million (300,000,000) shall be Common Shares having a par value of $0.01 per share”— PPM p. 1
Automated checks across the fund's extracted PPM. Every finding is shown with the evidence it's based on — proven numbers or a verbatim quote and page.
Drafting defects found in the PPM prose — numeric inconsistencies, broken cross-references, unfilled placeholders, and defined-term problems. Each is shown with the offending quote and its page.
Internal self-reference inside Section 11.02 points to a nonexistent 'Section 13.02'; the provision is Section 11.02 and the document has no Section 13.02.
“The right to indemnification conferred in this Section 13.02 shall be a contract right and shall include the right to be paid by the Corporation the expenses incurred in defending any such proceeding in advance of its final disposition”
The numbered closing recitals jump from 'Sixth' directly to 'Eighth', skipping 'Seventh' — a recital appears to be missing or mislabeled.
“Sixth: The total number of shares of stock which the Corporation had authority to issue immediately prior to this amendment and restatement was 315,000,000 shares.”
The same principal/registered office building address is given two conflicting ZIP codes: '46204' in Article III but '46240' on the incorporator address page.
“The principal office address of Corporation is 201 N. Illinois Street, 16 th Floor, South Tower, Indianapolis, Indiana 46204. ||| N. Illinois Street, 16 th Floor, South Tower Indianapolis, Indiana 46240”
Document header reads 'SECOND AMENDMENT AND RESTATED ARTICLES' (grammatically wrong) whereas the title and body consistently read 'SECOND AMENDED AND RESTATED ARTICLES'.
“SECOND AMENDMENT AND RESTATED ARTICLES OF INCORPORATION”
Questions a standard diligence questionnaire would ask that the PPM leaves unanswered.
The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Fees & Expenses). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
How much of a standard institutional due-diligence questionnaire this fund's offering documents answer out of the box. Gaps are questions an allocator will ask directly.
No fees extracted from the PPM.
What allocators are saying. Diligence notes, open questions, attached scenarios.
Be the first allocator to leave a take.