Every D.O.X engagement runs the same four-stage discipline. We don't take a file forward until the prior stage meets the bar institutional capital expects.
Holding, operating, SPV, and ownership cleanup that maps to lender covenants.
Books, cap table, contracts, and runway prepared for senior credit scrutiny.
Memo, model, one-pager. The story the credit committee will fund.
Term sheet, definitive docs, and wire — coordinated with counsel and the lender.