TELOVANT
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For M&A deal teams

Track every obligation in your deal documents

Telovant finds the obligations in your SPA, schedules and side letters and shows the exact clause behind each one. Your team approves every item before it is monitored, and every action is saved in an audit log that can't be changed.

Works with SPAs, disclosure schedules, TSAs, IP annexes and side letters, in PDF or DOCX.

Project Meridian · Review queue Item 3 of 12
Obligation · Financial 94% MANDATORY AI Needs review
Maintain minimum cash balance ≥ €2,500,000

Tested monthly against attested measurements until the escrow is released.

SPA_execution_v4.pdf · §7.2(b) · p. 41VERBATIM

“The Purchaser shall procure that the Group maintains, at all times prior to the Escrow Release Date, an aggregate cash balance of not less than EUR 2,500,000.”

Fictional deal: Project Meridian. Try Approve, Edit or Reject.

How it works

From upload to monitoring in five steps

The AI reads the documents and shows its sources. A person on your team approves every item.

  1. 01

    Upload the deal documents

    SPAs, disclosure schedules, TSAs, IP annexes and side letters, as PDF or DOCX, in one batch.

  2. 02

    Telovant extracts each obligation

    With file, section, page and the exact passage, plus a confidence score. Items under 70% are checked again by a stronger model.

  3. 03

    Your team approves or corrects it

    Approve, edit or reject each item, and add anything that was missed. Only approved items are monitored.

  4. 04

    Telovant monitors what you approved

    Covenant tests, goals and deadlines are tracked in one place. Every action is logged.

  5. 05

    New figures arrive from your sources

    Entered by hand, sent by email or uploaded as a file. Each source applies figures directly or sends them to review.

Obligations register

All obligations from all documents in one list

Filter by category and by whether an obligation is mandatory or recommended. Covenant and earnout tests have a threshold, and every new measurement is checked against it automatically. Measurements are signed off by a named person and never overwritten.

Obligations · Project Meridian ALL 42 FINANCIAL 11 REPORTING 9 AFFIRMATIVE 14 NEGATIVE 8
IDObligationCategoryBindingStatus
OBL-0041Keep minimum cash at €2.5M or moreFinancialMANDATORYPASS
OBL-0043Monthly management accounts within 20 daysReportingMANDATORYON TRACK
OBL-0047Stop using all TSA services by June 2027AffirmativeMANDATORYAT RISK
OBL-0050No dividends before the escrow is releasedNegativeMANDATORYON TRACK
OBL-0052Keep key-person insurance in placeAffirmativeRECOMMENDEDON TRACK
Covenant test · OBL-0041PASS
Threshold≥ €2,500,000
Latest reading€2,710,000
Period end2026-07-31
Signed off byj.keller
G-0007Net cash of €4.0M or moreAT RISK Target 2027-06-30
€2.5M €3.0M €3.5M €4.0M Today Jan 26 Jul 26 Jan 27 Jun 27
Expected Readings Milestone
Reading for 2026-07-31: €2.98M, expected €3.08M −3.3%
GoalNet cash of €4.0M or moreAT RISK
ObjectiveReduce debt after closingAT RISK
Portfolio18 on track, 3 at risk, 1 overdue22 goals

Goal tracking

See early when a goal falls behind

Enter a baseline, milestones and a target. Telovant calculates the expected value for every date in between, so each new figure shows straight away whether the goal is on track or at risk. The status rolls up from a single goal to the whole portfolio.

Cross-document checks

Find conflicts between documents

Telovant compares the documents in each workstream and reports conflicts, overlaps, gaps and cross-references, with both passages quoted word for word. You decide which version applies. Every decision is recorded and can be reversed.

XD-0009 CONFLICT SEVERITY HIGH 88%
Non-compete period differs
A · SPA_execution_v4.pdf
§11.4(a) · p. 52

“The Seller shall not, for a period of 24 months from Completion, carry on any business which competes with the Business.”

B · Side_Letter_02.pdf
§3 · p. 2

“The restriction in clause 11.4(a) of the SPA shall apply for a period of 36 months from Completion.”

WV-0007WAITING FOR L2
Waive the Q3 2026 minimum cash test
Covenant OBL-0041 · proposed by a.devries
  1. Proposed by a.devries, deal lead2026-08-04 09:12
  2. L1 approved by m.osei2026-08-04 14:30
  3. L2 approval neededMust be an L2 approver who is not a.devries or m.osei.
proposer ≠ L1 proposer ≠ L2 L1 ≠ L2
Audit log · entries can only be added
#1040waiver.proposeda.devrieshash 9f3a…c21e
#1041waiver.l1_approvedm.oseiprev 9f3a…c21e
#1042measurement.attestedj.kellerprev 2b77…e04f

Waivers and audit log

Every waiver needs two approvers

A waiver is approved at two levels by two different people. The person who proposed it can't approve it, and the server checks this every time. Every action is saved in an audit log that can't be changed afterwards.

Deal overview

The status of the whole deal on one screen

Covenant results, upcoming deadlines and open findings for each workstream. Every number links back to the document it came from.

Project Meridian · Overview As of 2026-08-05
Obligations42
Covenants passing6 of 6
Days to next deadline19
Open findings3
Consideration€48.0M
Cash at closing€36.0M
Earnout, up to€7.2M
Escrow€4.8M
Next deadlines
2026-08-24TSA exit: 6 of 12 services19 d
2026-08-31Minimum cash test, July accounts26 d
2026-09-14Q2 compliance certificate40 d

Reliability

Why you can rely on what Telovant reports

  • Every item shows its source

    Each extracted value links to the file, section, page and exact passage.

  • Nothing is monitored without approval

    Extracted items wait in a review queue until a person approves them.

  • Your corrections are never overwritten

    When you change a value, the AI can't replace it. Each field shows whether a person or the AI set it.

  • The audit log can't be changed

    Entries can only be added. Each one carries a hash of the one before, so any change would show.

Read how security works in Telovant

Back-test

Test Telovant on a deal you already closed

Upload the documents of a closed deal and the reports you received after closing. Telovant replays the deal and shows what it would have flagged, and when, next to what actually happened.

How the back-test works
Project Kestrel · Replay Closed 2025-03-31
Obligation APR 25JULOCTJAN 26 Warning
TSA exit: IT migration AT RISK MISSED 46 days
Minimum liquidity €3.0M FAIL WAIVER 24 days
Earnout: EBITDA €18.0M AT RISK MISSED 220 days
Telovant flag What actually happened Warning = days between the first flag and the event
Fictional deal: Project Kestrel.

Early access

Get access to Telovant

The product works today. We give access to new teams one at a time. Tell us about your deals and we will show you Telovant on a realistic deal set.