When it comes to raising money for an acquisition or growing your business in a new sector, getting the legal documentation completed on-time and on-budget is key.
Scribestar offers companies, investment funds and private equity houses a number of tangible benefits when working with law firms, investment banks and other advisers on corporate finance and capital markets transactions.
Scribestar facilitates far better collaboration between issuers and their legal counsel, accountants and corporate finance advisers.
Companies no longer have to rely on receiving draft documents or sending back comments as email attachments. By simply logging into the Scribestar platform, anyone who has the necessary permission can review the latest version of the document, see the current state of work in progress and make comments or suggestions. Legal counsel get notified in real time and can respond appropriately – making last minute changes easy to review and implement.
Company directors and senior executives are frequently involved in the process of verifying key factual statements in documents. This time intensive and laborious task involves reviewing spreadsheets and collating source information to be used as supporting documentation.
With Scribestar the verification process is automated – significantly reducing the time and effort that company directors and senior managers need to spend on this task.
Legal counsel mark-up material statements directly on the platform and choose the most appropriate people to provide the verification materials. Company directors and senior managers then log into Scribestar, review and check the statements and upload or link to the supporting documentation. As the offer documents progress, only additions or changes to material statements need to be reviewed and acted on. Verification notes can be generated at any time – removing the need for legal counsel to re-issue updated spreadsheets. Then, at the end of the transaction the verification report can be run for the final sign-off on the belief statements.
Improved control and risk management
Scribestar documents are modular and have been designed to allow everyone to re-use content in a structured and controlled way. Frequent issuers can maintain their own documents in Scribestar and then instruct legal counsel to use specific templates or model documents to make sure there is no unnecessary churn or re-working of pre-agreed content.
Content re-use also removes the error-prone task of copy-paste and risks associated with global find and replace – whether it’s updating a MTN programme prospectus, preparing a shareholder circular or drafting a press release.
Finally, when a document is copied on Scribestar, to start a follow-on issue or related transaction for example, any regulatory information or verification markup can also be copied, further reducing the cost and effort needed to produce a first draft.
Scribestar has a competitive, fixed-fee pricing model that includes all training, document preparation and 24 x 7 support. Scribestar documents are ‘print ready’ and do not need to be typeset. This removes the cost and uncertainty around price that is frequently associated with financial printers loading the document onto their own systems.
Whilst it is now commonplace for offer documents to just be published electronically – when a document does need to be printed, Scribestar can liaise with the financial printer to make sure the process is as seamless as possible.