This pre-mandate review examines whether the legal entity expected to raise capital has the authority, ownership clarity, financial information, disclosures, governance and adviser readiness required for an orderly process.
Pre-mandate review | Document and process assessment | No offer or funding commitment
Area | What is reviewed |
Authority and share capital | Constitution, CAC status, issuance powers, Board and shareholder approvals, existing restrictions. |
Ownership and control | Shareholders, beneficial owners, Group structure, investor rights, encumbrances and related parties. |
Financial information | Accounts, audit status, cash flow, debt, tax, forecasts, capitalisation and pro forma information. |
Business and disclosure | Business model, revenues, management, contracts, licences, disputes, IP, risks and use of proceeds. |
Valuation and data room | Forecast assumptions, valuation process, dilution, document completeness, version control and Q&A readiness. |
Regulatory and execution | Filings, consents, change of control, professional parties, escrow, allotment and post-closing obligations. |
Rating | Meaning |
Ready | Core corporate, financial, governance and documentation foundations are in place. |
Conditionally ready | May progress after completing defined critical items. |
Preparation required | Material commercial, financial, legal, audit or governance work remains. |
Not ready | Substantial restructuring or remediation is required before an orderly process can begin. |
The review is an issuer-readiness assessment, not a legal opinion, statutory audit, independent valuation, tax clearance or regulatory approval. Those conclusions must come from the properly appointed adviser.
Submit a concise summary of the issuer, proposed transaction, financial-information status and adviser position.
