What is closing, and how will I know when the deal is submitted for closing?

‘Closing’ is the process by which Odin locks the deal off from further investment, communicates with your company to sign off on deal legals, and transfers the final investment amount to your company to complete the SPV’s investment. At the end of closing, the syndicate’s investment is complete and their nominee will appear on your company’s cap table.

The Syndicate Lead will only close a deal when they are confident that they have all funds in the SPV. When they are ready for Odin to begin the closing process, they will click the ‘Close my Deal’ button in the platform. This will notify our Deal Operations team and will kick-off Odin’s internal closing process.

If you and the Syndicate Lead want to draw down the funds in an SPV, but keep the deal open for further investment, this can be done by initiating a Rolling Close. This is a different process to Odin’s regular deal closing process, and requires the Syndicate Lead to contact either their CSM or Odin’s Customer Support team, rather than pressing the ‘Close my Deal’ button.

While most of Odin’s communication will be with your company during closing, we won’t leave the Syndicate Lead in the dark as to what’s going on while the deal is closing. As the deal moves through the various stages of the closing process, they’ll be able to keep track by accessing the deal in Odin and reviewing the updates as per the tracker in the platform.

Odin will not send a notification to the investee company immediately. Rather, our first communication with your company will be to request the final investment agreement so we can sign it.