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Mergers & Acquisitions

The data room built for M&A diligence.

From teaser to close, run the deal on a flat rate. Folder structures bankers expect, granular buyer permissions, a Q&A workspace that keeps diligence on the platform, and an audit log that survives reps and warranties.

SEC 17a-4 + FINRA 4511Watermarked previewsQ&A workspace
Workspace
Active deals
New room
Project Atlas
Day 58 of process
Diligence
5 buyer groups
Project Meridian
Day 41 of process
LOI
3 buyer groups
Project Ironwood
Day 22 of process
Diligence
8 buyer groups
Project Cobalt
Day 9 of process
Teaser
14 buyer groups
Why deal teams choose LockRoom
Flat all in
$6,000 / yr

One number for unlimited rooms. Run a single deal or a portfolio. Single deal at $375 a month is also available.

Setup time
60 seconds

Drag in the 13 folder M&A template, invite buyer groups, go live. Buyers see your branded room in minutes.

Audit retention
7 years

Compliant with SEC 17a-4 and FINRA 4511. Exportable for reps and warranties carriers, post close disputes, or compliance review.

Folder structure

Drop in the standard 13 folder M&A template.

Built around what bankers and buy side diligence teams actually request. 13 top level folders, 63 subfolders, mapped to standard reps and warranties categories. Customize from there.

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Rooms/Project Ironwood
Documents
68 files across 4 folders
JW
TM
SL
#
Name
Files
Permissions

Different access for each buyer group.

Strategic buyers see operational detail. Financial buyers see different financial detail. Tier 1 sees full diligence, Tier 2 sees Phase 1. View Watermarked, Download Watermarked, View Original, Download Original. Per group, folder, and file.

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Buyer group
View
Download
Strategic Buyer A
Strategic Buyer B
Financial Buyer (Tier 1)
Financial Buyer (Tier 2)
Q&A workspace

Keep diligence Q&A on the platform.

Buyer questions land in a structured queue. Route to your finance lead, legal counsel, or operating team. Track which questions are open, answered, or marked internal. Buyers see only the answered ones.

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Project Ironwood
Diligence Q&A
Filter
Export
Strategic Buyer AFinancialAnswered
Customer concentration breakdown for the top 10 accounts in 2025
Assigned to CFO
Tier 1 FinancialLegalOpen
Are there any active or threatened litigations not disclosed?
Assigned to Counsel
Strategic Buyer AHRInternal
Voluntary turnover rate for engineering team last 24 months
Assigned to CEO
Tier 2 FinancialOperationsAnswered
Capacity utilization at the Phoenix facility
Assigned to COO
Strategic Buyer BFinancialOpen
EBITDA bridge from 2024 to 2025 with adjustments
Assigned to CFO
5 of 84 questions2 open · 2 answered · 1 internal
Built for the deal lifecycle

Every stage, on the same room.

13 folder M&A template

Standard structure mapped to reps and warranties categories. Drop it in on day one and the room is ready for buyers.

Granular buyer permissions

View Watermarked, Download Watermarked, View Original, Download Original. Per buyer group, folder, and file.

Q&A workspace

Buyer questions land in a queue, route to the right team member, mark internal or buyer facing. Diligence Q&A stays inside the room.

Watermarked previews

Every PDF a buyer opens is dynamically watermarked with their email and IP. If a deck leaks, you know which buyer leaked it.

SEC 17a-4 + FINRA 4511 audit logs

Page level activity, IP, search queries, print blocked events. Retained per regulatory requirements. Survives reps and warranties.

Advanced search

Buyers find what they need without flooding your inbox. You see what they searched for in the audit log.

Audit log

Every click, logged.

Court ready. Page level activity, IPs, search queries, print blocked events. Retained per SEC 17a-4 and FINRA 4511. Exportable to PDF or CSV when reps and warranties insurers ask for it.

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Project Ironwood
Audit Log
Live
Today · May 4, 2026
YouRevoked
Buyer 3 → Project Ironwood
13:54
Marcus AbernathyPrint blocked
Federal Returns.pdf
13:53
Marcus AbernathyViewed
Federal Returns.pdf
13:50
YouGranted Access
Buyer 2 → Tax folder
13:45
Eleanor PrescottViewed
2025 P&L.xlsx
13:44
Eleanor PrescottDownloaded
NDA Final.pdf
13:41
412 events this week · retained per SEC 17a-4 and FINRA 4511
How deals run on LockRoom
“The Q&A workspace alone saved us 200 emails per deal. Buyers ask questions inside the room, we route them to the right partner, the answer is logged with a timestamp. Reps and warranties carrier loved the audit trail.”
VP
VP of Corporate Development
Mid market platform company, 6 acquisitions per year
FAQ

Frequently Asked Questions

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Run your next deal on a flat rate.

14 day free trial. Full feature access. No credit card. Spin up your first deal room and drop in the M&A template in under 5 minutes.

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