Backup Requests

Summary

This practice note discusses backup requests for securities offerings. In most securities offerings, underwriters (and financial intermediaries acting in similar roles, such as initial purchasers or placement agents, collectively referred to as underwriters in this practice note) will request that the issuer provide backup data for certain information provided in the offering documents as part of the underwriter' due diligence. This practice note explains why backup data is requested, and follows with an overview of the backup process, including practical guidance on how to prepare and respond to backup requests, as well as preparing related closing documents.