Exit Rooms

    Exit readiness review agenda

    The agenda is the coverage specification. Every line names the dimension it evidences, so a question the meeting never reached becomes a gap against that dimension rather than a silence nobody notices.

    The review for a holding being prepared for sale. The agenda asks, on a monthly cadence, what an acquirer's diligence will ask — early enough that a thin answer is still something the company can go and fix rather than something that gets discovered in the data room.

    A row is
    Holding
    Grouped by
    Exit Path
    Cadence
    every 30 days
    Lines
    7

    Also called: Exit review · Buyer update · Readiness assessment · Advisor call · Valuation review

    The running order

    7 lines in the full specification, 2 of them scoped to a stage — so any one holding is measured against 5–7 of them. Run every 30 days. The order is the running order.

    1. 1
      Readiness against what a buyer will diligence
      Evidences Exit Readiness
    2. 2
      Buyer universe and who has actually engaged
      Evidences Buyer Universe
    3. 3
      Valuation trajectory and comparable marks
      Evidences Valuation Trajectory
    4. 4
      Financial hygiene and audit position
      Evidences Financial Hygiene
    5. 5
      Strategic positioning for the likely acquirer
      Evidences Strategic Positioning
    6. 6
      Process, advisors and timetable
      Evidences Process Discipline · only at In Market, Under Offer
    7. 7
      Offer terms and what is still conditional
      Evidences Process Discipline · only at Under Offer
    The bar moves with exit path

    Not every line applies at every stage

    2 of these 7 lines are stage-scoped. A flat agenda asks every row the same questions regardless of where it has got to, which manufactures gaps that are not gaps — and false gaps drown the real ones, which is the whole reason an uncovered question is allowed to mean something here.

    Hold
    5 of 7 lines
      Preparing
      5 of 7 lines
        In Market
        6 of 7 lines
        • +Process, advisors and timetable
        Under Offer
        7 of 7 lines
        • +Process, advisors and timetable
        • +Offer terms and what is still conditional

        Lines shown are the stage-scoped ones. The rest are in force at every exit path.

        What the room listens for

        The six dimensions this room scores

        Each carries a weight in the roll-up. A dimension with no evidence behind it is not scored at a middle value — it renders as unknown, and below the coverage floor the row reads never covered rather than green.

        Exit Readiness
        20% of the roll-up

        Whether the company would survive the diligence a buyer will actually run.

        data room statediligence gap namedreadiness work completed
        Buyer Universe
        20% of the roll-up

        Who would credibly buy this, and which of them have actually engaged.

        buyer namedapproach receivedconversation progressed
        Valuation Trajectory
        20% of the roll-up

        Where the mark is, what moved it, and what comparable transactions say.

        mark restatedcomparable transaction citedmultiple justified
        Financial Hygiene
        15% of the roll-up

        Audit position, revenue quality and whether the numbers survive scrutiny.

        audit statusrevenue recognition reviewedrestatement
        Strategic Positioning
        15% of the roll-up

        Whether the story a buyer needs to hear is true and evidenced.

        acquirer rationale namedstrategic fit evidencedpositioning changed
        Process Discipline
        10% of the roll-up

        Whether a process exists with advisors, a timetable and a fallback.

        advisor appointedtimetable setdeadline moved
        When a line is missed

        A question nobody asked is a fact about the room

        Because each line names a dimension, the gap scanner can say which one went uncovered and for how long. These are the four states it raises, and each one is a different problem with a different fix.

        Never covered

        The line has never been reached in this room. The dimension has no evidence at all.

        Unanswered

        It was raised and the room moved on without landing an answer.

        Gone stale

        It was covered, but not within the 30-day cadence this room type expects.

        Unowned

        There is an answer and an action, and nobody's name is against it.

        See it score a board

        Exit Rooms is one of eleven configurations of the same engine. The demo runs on fictitious holdings and sample data — every number traces back to something somebody said in the room.