Closing Agenda

Last updated: March 22, 2024

What Does Closing Agenda Mean?

The closing agenda is a vital document that contains information on closure processes adopted for an initial public offering (IPO) or the sale of a business. Generally known as a closing memorandum, it:

  • provides names of the working group members of the IPO or business sale;
  • summarizes the important events occurring prior to and during the registration;
  • provides the list of closure documents delivered at the closure of the offer and by each party; and
  • has an annexure of standard formats for
    • receipts,
    • certificates,
    • transmittal, and
    • important instructions among other critical documents expected to be delivered by each party for completing the settlement.

The closing agenda is an important part of an IPO or sales process because this agenda is used to conclude the final settlement of the sale of shares or other securities in exchange for cash. This step ensures fulfillment of regulatory requirements of an IPO allowing for the seller of the security to receive the cash while the investor is delivered the securities.


Divestopedia Explains Closing Agenda

The closing agenda provides the road map of the closing procedures. It tells the associated parties about the people in the working group and all the documents delivered in the settlement of the offer of the sale of securities to various parties. Closing is accomplished by the underwriters and the organization’s lawyers. Counsel for the underwriter prepares the closing memorandum, detailing the process of closing as per the regulatory norms. Various documents are checked for original signatures before the closing.

A list of delivered documents at closure can include:

  • legal opinions;
  • agreements signed and executed by the parties;
  • cross receipts;
  • third party certificates;
  • comfort letters; and
  • other closure certificates as required.

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