[sheet: Closing Checklist]
Item No. | Category | Description of Deliverable / Action | Responsible Party | Target Date | Date Completed | Status | Notes / Comments
1 | Transaction Agreements | Agreement and Plan of Merger among Lumos Analytics Inc., Prismyx Acquisition Sub LLC, Prismyx Data Solutions LLC, Jonah Eberhardt, and Talia Messina — Execution Version dated April 3, 2024 | Calderwood & Harkness LLP / Cartwright, Daugherty & Voss LLP | 2024-04-03 | 2024-04-03 | Complete | Fully executed by all parties. Forward merger under DLLCA § 18-209. Aggregate deal value $15,000,000.
2 | Transaction Agreements | Escrow Agreement among Lumos Analytics Inc., Jonah Eberhardt, Talia Messina, and Fenwick Escrow Services LLC (Escrow Officer: Dana Whitford) — $4,500,000 indemnification escrow fund | Calderwood & Harkness LLP / Fenwick Escrow Services LLC | 2024-05-27 | 2024-05-27 | Complete | Executed at closing. Escrow release date: November 27, 2025 (18 months post-closing). Escrow admin fee: $3,500/yr. Deposited at Fenwick Escrow Services LLC, 3 Park Plaza, Suite 1100, Irvine, CA 92614.
3 | Transaction Agreements | Employment Agreement — Jonah Eberhardt (VP, Plugin Engineering) with Prismyx Acquisition Sub LLC (as surviving entity and subsidiary of Lumos Analytics Inc.) | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Base salary $275,000/yr; bonus target 25% of base; 30-month employment commitment tied to retention earnout; 24-month non-compete and non-solicitation; severance: 12 months base + COBRA.
4 | Transaction Agreements | Employment Agreement — Talia Messina (VP, Data Visualization) with Prismyx Acquisition Sub LLC (as surviving entity and subsidiary of Lumos Analytics Inc.) | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Base salary $260,000/yr; bonus target 25% of base; 30-month employment commitment tied to retention earnout; 24-month non-compete and non-solicitation; severance: 12 months base + COBRA.
5 | Government Filings | Certificate of Merger — Filing with Delaware Secretary of State under DLLCA § 18-209, effecting merger of Prismyx Data Solutions LLC with and into Prismyx Acquisition Sub LLC | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Filed on Closing Date. Prismyx Acquisition Sub LLC is the surviving entity, wholly owned subsidiary of Lumos Analytics Inc. Registered agent: Capitol Registered Agents, Inc., 1209 Orange Street, Wilmington, DE 19801.
6 | Government Filings | HSR Act Filing Determination | Calderwood & Harkness LLP / Bristow Farr Financial Advisory LLC | 2024-04-03 | 2024-04-03 | Complete — N/A | Not required — aggregate deal value ($15,000,000) below HSR filing threshold. Determination made as of Signing Date.
7 | Third-Party Consents | Linden Grove National Bank — Consent under Revolving Credit Agreement dated 2022-09-15 between Lumos Analytics Inc. and Linden Grove National Bank (permitted acquisition notice/consent) | Lumos Analytics Inc. (Priya Subramaniam / Margaux Fontaine) / Calderwood & Harkness LLP | 2024-04-15 | 2024-04-15 | Complete | Consent obtained from Gregory Olshan, Relationship Manager, Linden Grove National Bank, 555 Montgomery Street, San Francisco, CA 94111. Required under Lumos credit agreement for acquisitions. Lumos revolver capacity: $25,000,000.
8 | Third-Party Consents | Ardent Financial Technologies, Inc. — Change-of-control consent under Master SaaS Agreement (largest Prismyx customer; ~31% of revenue; $1,178,000 2023 ACV) | Prismyx Data Solutions LLC (Jonah Eberhardt) / Cartwright, Daugherty & Voss LLP | 2024-05-06 | 2024-05-06 | Complete | Consent obtained. Change-of-control provision in Ardent Master SaaS Agreement triggered by the merger.
9 | Third-Party Consents | Halcyon Capital Markets LLC — Review of Master SaaS Agreement (~18% of revenue; $684,000 2023 ACV) for change-of-control provisions | Calderwood & Harkness LLP | 2024-03-29 | 2024-03-29 | Complete — N/A | No change-of-control consent provision identified in the Halcyon agreement. No consent required.
10 | Third-Party Consents | Corbin Institutional Services Corp. — Review of Master SaaS Agreement (~12% of revenue; $456,000 2023 ACV) for change-of-control provisions | Calderwood & Harkness LLP | 2024-03-29 | 2024-03-29 | Complete — N/A | No change-of-control consent provision identified in the Corbin agreement. No consent required.
11 | Member / Board Approvals | Prismyx Data Solutions LLC — Written consent of members (Jonah Eberhardt, 55% / 550 units; Talia Messina, 45% / 450 units; 1,000 total outstanding membership units) approving the Merger Agreement and the transactions contemplated thereby | Cartwright, Daugherty & Voss LLP (Sabrina Delvecchio) | 2024-05-10 | 2024-05-10 | Complete | Unanimous written consent of all members obtained.
12 | Member / Board Approvals | Lumos Analytics Inc. — Board of Directors resolution approving the acquisition of Prismyx (acquisition exceeds $5,000,000 threshold under Lumos Stockholders' Agreement, requiring board approval including at least one Ridgeline Capital designee) | Margaux Fontaine, General Counsel, Lumos Analytics Inc. | 2024-04-03 | 2024-04-03 | Complete | Board members: Desmond Calloway (CEO), Priya Subramaniam (CFO), Tobias Prumvane (Ridgeline designee), Claire Yeung (Ridgeline designee), Franklin Maeda (independent). At least one Ridgeline designee voted in favor.
13 | Member / Board Approvals | Lumos Analytics Inc. — Resolution of sole member of Prismyx Acquisition Sub LLC (Lumos as sole member) approving the Merger Agreement | Margaux Fontaine, General Counsel, Lumos Analytics Inc. | 2024-04-03 | 2024-04-03 | Complete | Prismyx Acquisition Sub LLC formed by Lumos as wholly owned Delaware LLC merger subsidiary. EIN: 93-4218560.
14 | Certificates — Seller | Officer's Certificate of Prismyx Data Solutions LLC (signed by Jonah Eberhardt as CEO and Managing Member) certifying accuracy of representations and warranties as of Closing Date and compliance with covenants | Cartwright, Daugherty & Voss LLP | 2024-05-27 | 2024-05-27 | Complete | Bring-down of representations and warranties to Closing Date.
15 | Certificates — Seller | Secretary's/Manager's Certificate of Prismyx Data Solutions LLC — Certifying LLC Agreement, member resolutions, incumbency of officers/managers | Cartwright, Daugherty & Voss LLP | 2024-05-27 | 2024-05-27 | Complete | Certified copies of organizational documents and member approval attached.
16 | Certificates — Seller | Certificate of Good Standing — Prismyx Data Solutions LLC, State of Delaware (Secretary of State) | Cartwright, Daugherty & Voss LLP | 2024-05-27 | 2024-05-27 | Complete | Dated within 10 business days of Closing Date. Delaware LLC organized in 2020. EIN: 86-1537842.
17 | Certificates — Seller | FIRPTA Certificate (Certificate of Non-Foreign Status) — Jonah Eberhardt | Cartwright, Daugherty & Voss LLP | 2024-05-27 | 2024-05-27 | Complete — N/A | Eberhardt is a U.S. person. FIRPTA withholding not applicable. Certificate delivered for the record.
18 | Certificates — Seller | FIRPTA Certificate (Certificate of Non-Foreign Status) — Talia Messina | Cartwright, Daugherty & Voss LLP | 2024-05-27 | 2024-05-27 | Complete — N/A | Messina is a U.S. person. FIRPTA withholding not applicable. Certificate delivered for the record.
19 | Certificates — Buyer | Officer's Certificate of Lumos Analytics Inc. (signed by Desmond Calloway as CEO or Priya Subramaniam as CFO) certifying accuracy of Buyer's representations and warranties as of Closing Date and compliance with covenants | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Bring-down of Buyer representations and warranties to Closing Date.
20 | Certificates — Buyer | Secretary's Certificate of Lumos Analytics Inc. — Certifying certificate of incorporation, bylaws, board resolutions, and incumbency | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Includes board resolutions approving the Merger Agreement and the transactions contemplated thereby. Lumos EIN: 83-2941076.
21 | Certificates — Buyer | Certificate of Good Standing — Lumos Analytics Inc., State of Delaware (Secretary of State) | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Dated within 10 business days of Closing Date. Delaware corporation founded in 2018.
22 | Certificates — Buyer | Certificate of Good Standing — Prismyx Acquisition Sub LLC, State of Delaware (Secretary of State) | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Merger Sub formed for sole purpose of effecting the forward merger. Registered agent: Capitol Registered Agents, Inc., 1209 Orange Street, Wilmington, DE 19801.
23 | Legal Opinions | Legal Opinion of Calderwood & Harkness LLP (Buyer's Counsel) addressed to Prismyx Data Solutions LLC, Jonah Eberhardt, and Talia Messina — Opining on due organization, authority, enforceability, and no violation of organizational documents of Lumos Analytics Inc. and Prismyx Acquisition Sub LLC | Calderwood & Harkness LLP (Harrison Wexford) | 2024-05-27 | 2024-05-27 | Complete | Signed by Harrison Wexford, Responsible Partner. Delivered as condition to closing.
24 | Legal Opinions | Legal Opinion of Cartwright, Daugherty & Voss LLP (Seller's Counsel) addressed to Lumos Analytics Inc. — Opining on due organization, authority, and enforceability of Prismyx Data Solutions LLC, and member approval | Cartwright, Daugherty & Voss LLP (Sabrina Delvecchio) | 2024-05-27 | 2024-05-27 | Complete | Signed by Sabrina Delvecchio, Lead Partner. CDV Matter No. 1008-00008.
25 | Funds Flow / Payment | Funds Flow Memorandum — Detailing wire instructions and allocation of $10,500,000 aggregate closing cash consideration | Calderwood & Harkness LLP (Naomi Petersen / Ryan Kowalski) | 2024-05-27 | 2024-05-27 | Complete | Source of buyer funds: Linden Grove National Bank. Net cash to Eberhardt: $3,300,000; Net cash to Messina: $2,700,000; Escrow deposit to Fenwick Escrow: $4,500,000; Fenwick Escrow admin fee: $3,500.
26 | Funds Flow / Payment | Wire transfer — $4,500,000 to Fenwick Escrow Services LLC indemnification escrow account | Lumos Analytics Inc. (Priya Subramaniam, CFO) | 2024-05-27 | 2024-05-27 | Complete | 30% of aggregate deal value. Escrow is sole and exclusive remedy for indemnification claims (other than fraud). Indemnification cap: $4,500,000. Basket: $150,000 (tipping). De minimis per claim: $15,000.
27 | Funds Flow / Payment | Wire transfer — $3,300,000 net closing cash consideration to Jonah Eberhardt | Lumos Analytics Inc. (Priya Subramaniam, CFO) | 2024-05-27 | 2024-05-27 | Complete | Eberhardt pro rata share: 55% of $6,000,000 net cash (after escrow holdback). Total closing entitlement: $5,775,000 (55% of $10,500,000); escrow entitlement: $2,475,000.
28 | Funds Flow / Payment | Wire transfer — $2,700,000 net closing cash consideration to Talia Messina | Lumos Analytics Inc. (Priya Subramaniam, CFO) | 2024-05-27 | 2024-05-27 | Complete | Messina pro rata share: 45% of $6,000,000 net cash (after escrow holdback). Total closing entitlement: $4,725,000 (45% of $10,500,000); escrow entitlement: $2,025,000.
29 | Funds Flow / Payment | Working Capital — Estimated net working capital delivered; post-closing true-up to occur within 90 days of closing | Haverford & Keane, CPAs (Lorraine Chow) / Lumos Analytics Inc. | 2024-08-25 | — | Pending (post-closing) | Target Net Working Capital: $485,000. Dollar-for-dollar adjustment above or below target, subject to $25,000 de minimis collar. Haverford & Keane engagement fee: ~$45,000.
30 | Intellectual Property | Confirmation that all Prismyx IP transfers to surviving entity (Prismyx Acquisition Sub LLC) by operation of law upon effectiveness of merger | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | U.S. Patent App. No. 17/842,316 (filed 2022-06-14, pending); TM 'PrismLens' Reg. No. 6,894,112; TM 'Prismyx' Reg. No. 6,701,488; TM Prismyx Prism Logo Reg. No. 6,933,201.
31 | Ancillary Documents | IP Assignment confirmatory documents (if needed) for USPTO records — patent application and trademark registrations | Calderwood & Harkness LLP | 2024-05-27 | 2024-05-27 | Complete | Confirmatory filings to be made post-closing with USPTO as needed. IP transferred by operation of law.
32 | Ancillary Documents | Payoff letters / lien releases — Confirmation that Prismyx has no outstanding indebtedness requiring payoff at closing | Cartwright, Daugherty & Voss LLP | 2024-05-27 | 2024-05-27 | Complete — N/A | No outstanding indebtedness identified during due diligence. No outside institutional investors in Prismyx.
33 | Ancillary Documents | Resignation letters of officers/managers of Prismyx Data Solutions LLC (to extent required) | Cartwright, Daugherty & Voss LLP | 2024-05-27 | 2024-05-27 | Complete | Resignations effective as of closing; Eberhardt and Messina transitioning to new Lumos employment roles.
34 | Post-Closing Obligations | Earnout Period 1 — Monitor PrismLens Net New ARR milestone ($2,200,000); earnout tranche 1 payment of up to $2,250,000 if milestone met | Lumos Analytics Inc. | 2025-08-27 | — | Pending (post-closing) | Earnout Period 1: months 1–15 post-closing (ends Aug 27, 2025). Pro rata linear interpolation applies at ≥75% achievement (50% payout at 75%; 100% at 100%). Retention condition: Founder must remain employed.
35 | Post-Closing Obligations | Earnout Period 2 — Monitor PrismLens cumulative Net New ARR milestone ($3,500,000); earnout tranche 2 payment of up to $2,250,000 if milestone met | Lumos Analytics Inc. | 2026-11-27 | — | Pending (post-closing) | Earnout Period 2: months 16–30 post-closing (ends Nov 27, 2026). Same pro rata interpolation and retention conditions as Period 1.
36 | Post-Closing Obligations | Escrow Release — Release of remaining escrow balance to Sellers (subject to reserves for pending claims) on November 27, 2025 (18 months post-closing) | Fenwick Escrow Services LLC (Dana Whitford) | 2025-11-27 | — | Pending (post-closing) | General reps survive 18 months; fundamental reps survive 36 months (through May 27, 2027). Escrow is exclusive remedy (other than fraud/special indemnities).
37 | Post-Closing Obligations | Working Capital True-Up — Final determination and payment/receipt of adjustment within 90 days of Closing Date | Haverford & Keane, CPAs (Lorraine Chow) / Lumos Analytics Inc. / Sellers | 2024-08-25 | — | Pending (post-closing) | Target NWC: $485,000. $25,000 de minimis collar. Haverford & Keane to perform review.
[sheet: Key Contacts]
Party / Organization | Contact Name | Title / Role | Address | Notes
Lumos Analytics Inc. (Buyer) | Desmond Calloway | CEO & Director | 450 Mission Street, Suite 2200, San Francisco, CA 94105 | Buyer signatory
Lumos Analytics Inc. (Buyer) | Priya Subramaniam | CFO & Director | 450 Mission Street, Suite 2200, San Francisco, CA 94105 | Authorized for wire transfers / funds flow
Lumos Analytics Inc. (Buyer) | Margaux Fontaine | General Counsel | 450 Mission Street, Suite 2200, San Francisco, CA 94105 | Primary legal contact at Buyer
Ridgeline Capital Partners, LP (Investor in Buyer) | Tobias Prumvane | Director (Ridgeline designee); Managing Partner, Ridgeline Capital Management LLC | 600 Lexington Avenue, 28th Floor, New York, NY 10022 | Lumos board member; Ridgeline holds ~38% of Lumos fully diluted equity
Ridgeline Capital Partners, LP (Investor in Buyer) | Claire Yeung | Director (Ridgeline designee); Managing Partner, Ridgeline Capital Management LLC | 600 Lexington Avenue, 28th Floor, New York, NY 10022 | Lumos board member
Lumos Analytics Inc. (Buyer) | Franklin Maeda | Independent Director | 450 Mission Street, Suite 2200, San Francisco, CA 94105 | Lumos board member
Prismyx Data Solutions LLC (Target) | Jonah Eberhardt | Co-Founder, CEO & Managing Member; post-closing: VP, Plugin Engineering | 1414 Walnut Street, Suite 310, Philadelphia, PA 19102 | 55% ownership (550 / 1,000 units); Seller signatory
Prismyx Data Solutions LLC (Target) | Talia Messina | Co-Founder, CTO & Member; post-closing: VP, Data Visualization | 1414 Walnut Street, Suite 310, Philadelphia, PA 19102 | 45% ownership (450 / 1,000 units); Seller signatory
Calderwood & Harkness LLP (Buyer's Counsel) | Harrison Wexford | Responsible Partner, M&A | 101 California Street, Suite 4500, San Francisco, CA 94111 | C&H Matter No. 1008-00008
Calderwood & Harkness LLP (Buyer's Counsel) | Beatrice Holloway | Billing Partner, M&A | 101 California Street, Suite 4500, San Francisco, CA 94111
Calderwood & Harkness LLP (Buyer's Counsel) | Naomi Petersen | Lead Associate, M&A | 101 California Street, Suite 4500, San Francisco, CA 94111 | Closing checklist lead
Calderwood & Harkness LLP (Buyer's Counsel) | Ryan Kowalski | Working Associate, M&A | 101 California Street, Suite 4500, San Francisco, CA 94111 | Closing checklist support
Cartwright, Daugherty & Voss LLP (Seller's Counsel) | Sabrina Delvecchio | Lead Partner | 1700 Market Street, Suite 2800, Philadelphia, PA 19103 | CDV Matter No. 1008-00008
Cartwright, Daugherty & Voss LLP (Seller's Counsel) | Marcus Greenbaum | Associate | 1700 Market Street, Suite 2800, Philadelphia, PA 19103
Fenwick Escrow Services LLC (Escrow Agent) | Dana Whitford | Escrow Officer | 3 Park Plaza, Suite 1100, Irvine, CA 92614 | Administering $4,500,000 indemnification escrow
Linden Grove National Bank (Buyer's Bank / Lender) | Gregory Olshan | Relationship Manager | 555 Montgomery Street, San Francisco, CA 94111 | Revolving Credit Agreement dated 2022-09-15; $25M capacity
Haverford & Keane, CPAs (Buyer's Accountant) | Lorraine Chow | Engagement Partner | 2001 Market Street, Suite 600, Philadelphia, PA 19103 | Financial review / working capital true-up; fee ~$45,000
Bristow Farr Financial Advisory LLC (Financial Advisor to Buyer) | Arun Padmanabhan | Managing Director | 44 Montgomery Street, Suite 3100, San Francisco, CA 94104 | Advisory fee: $150,000 flat + $75,000 success fee = $225,000 total
Capitol Registered Agents, Inc. (Registered Agent — Target & Merger Sub) | — | Registered Agent | 1209 Orange Street, Wilmington, DE 19801 | Registered agent for both Prismyx Data Solutions LLC and Prismyx Acquisition Sub LLC
[sheet: Key Dates]
Date | Event / Milestone | Status | Notes
2024-02-20 | Engagement letter executed — Calderwood & Harkness LLP retained by Lumos Analytics Inc. | Complete | Matter No. 1008-00008
2024-03-01 | Non-binding LOI / Term Sheet signed by Lumos and Prismyx / Founders | Complete
2024-03-04 | Due diligence period commences | Complete
2024-03-29 | Due diligence period concludes | Complete
2024-04-03 | Merger Agreement signed (Signing Date) | Complete | Execution version dated April 3, 2024
2024-04-03 | HSR filing determination — not required (deal value below threshold) | Complete
2024-04-15 | Linden Grove National Bank consent obtained | Complete | Bank consent under revolving credit agreement
2024-05-06 | Ardent Financial Technologies, Inc. change-of-control consent obtained | Complete | Largest customer; ~31% of Prismyx revenue
2024-05-10 | Prismyx member approval obtained (unanimous written consent) | Complete | Eberhardt (55%) and Messina (45%)
2024-05-22 | Expected Closing Date per Merger Agreement | Passed | Actual closing delayed to May 27, 2024
2024-05-27 | Actual Closing Date — Merger effective; Certificate of Merger filed with Delaware Secretary of State | Complete | All closing deliverables completed
2024-08-25 | Working capital true-up deadline (90 days post-closing) | Pending | Target NWC: $485,000; $25,000 collar
2025-08-27 | Earnout Period 1 ends (15 months post-closing) | Pending | PrismLens Net New ARR target: $2,200,000; tranche: up to $2,250,000
2025-11-27 | Escrow release date (18 months post-closing) | Pending | Remaining $4,500,000 escrow balance released to Sellers (subject to reserves)
2026-01-31 | Prismyx office lease expiration (1414 Walnut St, Philadelphia) | Pending | Monthly rent: $8,750
2026-11-27 | Earnout Period 2 ends (30 months post-closing) | Pending | Cumulative Net New ARR target: $3,500,000; tranche: up to $2,250,000