Top Law Schools

Can anyone explain in detail what it means to manage transaction closings? I don't want to sound like an idiot with my fellow associates who have done this before. Thanks.

What kind of transaction? Generally, things happen like: signature pages get released from escrow, wire transfers are made, filings are made with the Delaware Secretary of State, shares are transferred via DTC, etc., but the specifics depend on what kind of deal.

Anonymous User wrote: ↑

Thu Mar 25, 2021 10:42 pm

What kind of transaction? Generally, things happen like: signature pages get released from escrow, wire transfers are made, filings are made with the Delaware Secretary of State, shares are transferred via DTC, etc., but the specifics depend on what kind of deal.

Like a high yield bond deal.

Just look at the checklist? It's mostly going to be putting docs into execution form and gathering signature pages. You may have to coordinate a closing call with the trustee, the UWs, the issuer and counsels. HY closings are like the easiest closings.

do you mean capital markets or M&A

capital markets is usually just getting all the closing deliverables in place for the calls others have already described. I would just look at the checklist like others have said. every deliverable should be broken out or somehow noted.

M&A is part of that as well, but it can be a much larger headache with a lot more paper to push and finalize for things like restructurings

Make sure everything needed to close will be done prior to closing by chasing the appropriate people at the appropriate time or doing it yourself if its junior work.

Transaction closings suck and there is an incredible amount of paper pushing.

Currently working on a secondary sale in the PE/VC market and there are hundreds of documents which I am responsible for circulating, getting signed/counter-signed and then dated etc all before a hard deadline.