DealVantage — Every Attorney. One Level Up.

The drafting bench behind your
SPAC engagement.

For Transactional Counsel

DealVantage is a specialty drafting service for law firms handling SPAC IPOs, de-SPAC transactions, and SEC reporting. We deliver finished initial drafts on fixed fees — S-1, BCA, S-4, F-4, and 10-K — for your team to take into negotiation, filing, and closing.

You stay counsel of record. You hold the relationship. We sit underneath the engagement, on call, on time, on a flat fee structure that aligns when you get paid.

Powered by Edelman Legal Every draft is produced under the supervision of capital markets attorneys at Edelman Legal, never the AI alone.

Engage DealVantage View Services

§ 01 The Problem

SPAC work is specialty work.
And specialty work rewards experience.

Background
A note on the model

A SPAC IPO, a BCA, an S-4 — each is a multi-hundred-page exercise in cross-document consistency, SEC comment anticipation, and current market practice.

The conventional options are to staff the work internally and absorb the learning curve, or to refer it out and lose the client. Neither is satisfying.

DealVantage is a third option: an external drafting bench that delivers the initial draft, on a fixed fee, while you stay counsel of record.

Our drafts are produced and reviewed against a layered quality-control standard before delivery.

§ 02 Services

What we draft.

SPAC IPOForm S-1 Registration Statement

Full initial draft of the SPAC Form S-1 registration statement, scoped to the structure and economics of the transaction. Available through initial filing and through effectiveness.

Initial Draft
Through Filing
Through Effectiveness

II.

Business Combination AgreementBCA · De-SPAC Transaction

Initial draft of the Business Combination Agreement, scoped to the structure and economics of the transaction. SPAC-side or target-side engagement (one party, not both). Delivered through delivery to opposing counsel or through signing.

Initial Draft
Through Signing

III.

Registration StatementForm S-4 / F-4 · De-SPAC

Initial draft of the de-SPAC registration statement on Form S-4 (domestic target) or Form F-4 (foreign private issuer target). Available through initial filing and through effectiveness.

Initial Draft
Through Filing
Through Effectiveness

IV.

Annual ReportForm 10-K · SPAC Reporting

Full draft of the Annual Report on Form 10-K for SPAC issuers.

Full Draft

Engagement model. Fixed-fee per deliverable, structured partial upfront and partly contingent on the relevant milestone (initial filing, signing, effectiveness, or closing). We get paid when you get paid. Additional SPAC workflows — sponsor support agreements, lock-ups, PIPE documents, comment responses, refresh filings — are available on engagement-specific terms. Pricing and engagement letters on request.

§ 03 How It Works

A clean handoff. Four steps.

Intake

You send us the deal parameters — structure, parties, economics, timing. A term sheet or summary is enough. We confirm scope and execute an engagement letter.

ii.

Drafting

We produce the initial draft from current EDGAR precedent, calibrated to the deal's specific structure. Internal quality-control passes catch the things that take a partner read to find.

iii.

Partner Review

An Edelman Legal capital markets partner signs off on the draft before it leaves our shop. Every citation traced. Every market-standard call defended. Open items flagged for your partner's attention.

iv.

Delivery

You receive a finished draft on the agreed timeline, branded as your firm's work product. You run negotiation, comment response, and closing. The relationship is yours.

§ 04 The Engine

Holmes — our AI, not your problem.

Holmes is the proprietary AI we built to do this work. It is grounded in SEC C&DIs, the Financial Reporting Manual, FINRA rules, exchange listing standards, and an EDGAR precedent corpus we curate ourselves. Holmes drafts; our attorneys judge.

You do not log into Holmes. You do not configure Holmes. You do not pay a per-seat fee for Holmes. Holmes is how we deliver. What you receive is finished work product — drafted by Holmes, reviewed by our attorneys, signed off by an Edelman Legal partner.

SEC-grounded. Every citation traces to a confirmed authority — a C&DI, an FRM section, a Staff Legal Bulletin, or an EDGAR filing we have read.
Non-fabrication by design. If Holmes does not have an authority, it returns a bracketed placeholder. It never invents a cite to fill a gap.
Market-calibrated. Holmes knows what is market on a 90-day lock-up versus 180, on a 3.5% deferred underwriting fee, on a $50M working capital peg.
House-style aware. Holmes learns how your firm structures deals. The second draft we deliver to you is more useful than the first.

Holmes · Pre-filing scan · S-4 Draft v.7

3 issues surfaced before partner review

SCAN COMPLETE

Critical [Reg S-X Rule 3-12] [FRM §4240]

Stale financials. Sep 30 FYE + Aug effectiveness requires Q2 interims. Audited annuals alone will not clear staleness.

High [T1 BCA-R14 · Lock-up]

Departure from market. 90-day founder lock-up vs. 180-day market standard. Flag to partner; defensible if intentional.

Standard [FINRA Rule 5110]

Deferred fee computed. 3.5% of trust, including over-allotment. Within 10% aggregate cap. No further action required.

§ 05 Principles

How we operate.

White-label, by design

DealVantage is a back-of-house drafting bench. We don't take meetings with your client, we don't appear on the cover, and we don't compete for the relationship. Drafts are delivered for your firm to take forward.

ii.

One party per deal

We represent one side of any de-SPAC transaction — SPAC or target — not both. The conflict screen is straightforward and the engagement letter is unambiguous about it.

iii.

Paid when you're paid

Our fees are partly upfront and partly contingent on the milestone that matters — filing, signing, effectiveness, or closing. Deals that die early don't generate a bill for the long tail.

iv.

Current precedent, not stale templates

Every draft is built against live EDGAR precedent for the relevant transaction type. The market moves; the drafts reflect where it is.

Layered quality control

Every draft passes a structural and hygiene review before delivery: cross-document consistency, defined-term integrity, regulatory citation accuracy, and SEC comment anticipation. Items that genuinely require a judgment call are flagged in brackets, not silently resolved. Every document is reviewed by our principal before it is delivered to the client.

vi.

On time

SPAC drafting timelines are tight and they don't slip cleanly. Delivery windows are set at engagement and held.

vii.

Security, in process

DealVantage is in the process of obtaining SOC 2 certification. Until then — and after — client materials are handled under written confidentiality, restricted-access controls, and the same engagement-letter protections that govern the underlying legal relationship.

§ 06 From the Build

What we're working on this week.

Dispatch · No. 01 May 2026

A quiet milestone — Holmes runs its first end-to-end BCA.

Holmes — our drafting engine for SPAC and de-SPAC transactions — is wrapping its first end-to-end beta: a full Business Combination Agreement, drafted from confirmed deal parameters against a live EDGAR precedent universe, with a deterministic hygiene pass on every output.

It's a quiet milestone. The kind of progress that doesn't make a press release but changes what one attorney can credibly cover in a quarter.

A few things we've learned building this

The hardest problem in legal AI isn't generation. It's discipline.
EDGAR is the corpus.
Partner-grade means substance density, not tone.

Continuously upgrading. More to come.

§ 07 About

Built for this work.

DealVantage was founded by capital markets practitioners who spent a decade drafting the documents we now produce as a service.

The firm operates from New York and serves transactional counsel across the United States. Our practice is deliberately narrow — SPACs and the workstreams adjacent to them — because that focus is what makes fixed-fee drafting at this level of quality possible.

We work with boutique firms that take on SPAC work selectively, larger firms whose capital markets group needs extra capacity for filing windows, and general corporate practices that prefer to keep client relationships in-house rather than referring SPAC matters out.

The Firm Behind the Service

Powered by Edelman Legal.

DealVantage is not a software company that hires lawyers. It is a drafting service operated by Edelman Legal — a capital markets boutique with deep, sustained experience in SPAC, IPO, and equity financing work for issuers, sponsors, and placement agents.

Every engagement is supervised by an Edelman Legal attorney. Every draft is reviewed by an Edelman Legal attorney. The AI does the volume work; the attorneys make the judgment calls. That is not a marketing claim — it is the operating model.

Decades

of capital markets practice

SPAC

IPO, de-SPAC & PIPE focus

100%

Partner-reviewed deliveries

Operating Principle

The AI does the volume work. The attorneys make the judgment calls. Nothing leaves our shop without a partner's name on it.

Aryeh Edelman Founder · DealVantage & Edelman Legal

§ 08 · Engage DealVantage

Send us the deal.
We'll send back the draft.

If you have an active SPAC mandate — IPO, de-SPAC, or a 10-K coming due — write to us with the deal parameters and the timeline. We respond within one business day with scope confirmation, an indicative fee, and an engagement letter.

For general inquiries about the practice or to discuss bringing DealVantage in on a recurring basis, the same address reaches us.

Direct Contact

Kristina@DealVantageAI.com

Response within one business day. Engagement letter and indicative fee provided after a brief intake call.

SPAC work is specialty work.And specialty work rewards experience.