# Exits & Liquidity | Raziel Learn (page 1 of 4) > How to track exits and liquidity: escrows, holdbacks, earnouts, indemnities, secondaries, tender offers, IPO lockups and Rule 144. Canonical: https://raziel.co/learn/category/exits-liquidity ## Topics - [Startups & SAFEs](https://raziel.co/learn/category/startups-safes): SAFEs, convertible notes, priced rounds, cap tables and the investor rights that come with them. - [SPVs & Funds](https://raziel.co/learn/category/spvs-funds): Commitments, capital calls, distributions, fees, carry and fund performance for LPs and syndicate investors. - [Exits & Liquidity](https://raziel.co/learn/category/exits-liquidity) (this page): M&A terms, escrows and earnouts, secondaries, tenders, lockups and Rule 144 after the exit. - [Tax & Compliance](https://raziel.co/learn/category/tax-compliance): K-1s, QSBS, 83(b) elections, opportunity zones, trusts and the rules around private investing. - [Comparisons](https://raziel.co/learn/category/comparisons): Side-by-side looks at portfolio trackers, investor platforms and the tools angels and LPs use. - [Markets & Trends](https://raziel.co/learn/category/markets-trends): AltList weekly private markets recaps, sector themes and where alternative assets are heading. - [Investing Basics](https://raziel.co/learn/category/investing-basics): Portfolio building, diversification, risk and the fundamentals of managing alternative assets. ## Articles - [How to Track Escrow Holdback on a PE Portfolio Exit](https://raziel.co/learn/escrow-holdback-tracking) (2026-10-24, Exits & Liquidity, 4 min read): How to track escrow holdback after a PE exit. Copy holdback amount, escrow agent, release date(s), claims, remaining, and currency from the signed agreements. - [How to Track Rule 144 After a Private Sale](https://raziel.co/learn/rule-144-tracking) (2026-10-23, Exits & Liquidity, 4 min read): How to track Rule 144 after a private sale. Log holding period, affiliate status, volume caps, current public information, and Form 144 needs. - [How to Track a Secondary Stock Lot](https://raziel.co/learn/secondary-stock-lot-tracking) (2026-09-19, Exits & Liquidity, 5 min read): How to track a secondary stock lot after a tender, marketplace trade, or SPV distribution. Log basis, vehicle, fees, cash in, leftover, and MOIC. - [How to Track an IPO Lockup After Pricing](https://raziel.co/learn/lockup-tracking) (2026-09-18, Exits & Liquidity, 5 min read): How to track an IPO lockup after pricing. Log start and end dates, restricted instruments, carve-outs, and whether the contract is still in force. - [How to Track Registration Rights After Close](https://raziel.co/learn/registration-rights-tracking) (2026-09-17, Exits & Liquidity, 4 min read): How to track registration rights after close: remaining demands, piggyback, S-3 eligibility, lock-up days, last notice, and whether a registration was filed. - [How to Track a When-Made Bring-Down](https://raziel.co/learn/when-made-bring-down-tracking) (2026-08-30, Exits & Liquidity, 5 min read): How to track a when-made bring-down after signing. Log Fasken/ABA 2023 prints (66% when made vs 33% closing-only). Copy the PDF accuracy clock. - [How to Track a Closing-Condition Materiality Scrape](https://raziel.co/learn/closing-condition-materiality-scrape-tracking) (2026-08-30, Exits & Liquidity, 5 min read): How to track a closing-condition materiality scrape after signing. Log Fasken/ABA 2025 prints (about 90% of US deals). Copy the PDF bring-down scrape. - [How to Track an Insurance-Proceeds Set-Off](https://raziel.co/learn/set-off-insurance-proceeds-tracking) (2026-08-30, Exits & Liquidity, 5 min read): How to track an insurance-proceeds set-off after signing. Log Goulston/ABA 2023 prints (insurance reduction in 83%). Copy the PDF set-off clause. - [How to Track an MAE Closing Condition](https://raziel.co/learn/mae-closing-condition-tracking) (2026-08-30, Exits & Liquidity, 5 min read): How to track an MAE closing condition after signing. Log Miller Thomson/ABA Canadian 2025 prints (standalone MAE in 58%). Copy the PDF no-MAE clause. - [How to Track a Legal-Proceedings Closing Condition](https://raziel.co/learn/legal-proceedings-closing-condition-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a legal-proceedings closing condition after signing. Log BLT Oct 2025 sneak peek (46% to 35%). Copy the PDF no-proceedings clause. - [How to Track an Incidental-Damages Exclusion](https://raziel.co/learn/incidental-damages-exclusion-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track an incidental-damages exclusion after signing. Log Goulston/ABA 2025 prints (expressly excluded in 19%). Copy the PDF exclusion. - [How to Track a Target Legal Opinion](https://raziel.co/learn/target-legal-opinion-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a target legal opinion after signing. Log Goulston/ABA 2023 prints (target counsel opinion in 1%). Copy the PDF closing deliverable. - [How to Track an After-Tax Indemnity Limitation](https://raziel.co/learn/after-tax-indemnity-limitation-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track an after-tax indemnity limitation after signing. Log Goulston/ABA 2023 prints (23% historic low). Copy the PDF after-tax clause. - [How to Track a Tip Basket (First-Dollar Indemnity Basket)](https://raziel.co/learn/tip-basket-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a tip basket (first-dollar) after signing. Log Inkvex/ABA 2025 first-dollar median (0.50% of value). Copy the PDF tipping basket. - [How to Track a Deductible Basket](https://raziel.co/learn/deductible-basket-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a deductible basket after signing. Log Goulston (2/3 to 3/4) and Morse 67% deductible majority. Copy the PDF deductible clause. - [How to Track Indemnity Escrow Size](https://raziel.co/learn/indemnity-escrow-size-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track indemnity escrow size after signing. Log Inkvex/ABA 2025 overall median (2.40% of deal value). Copy the signed PDF escrow amount. - [How to Track RWI as the Sole Source of Recovery](https://raziel.co/learn/rwi-sole-source-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track RWI as the sole source of recovery after signing. Log Goulston/ABA 2025 (46% of RWI deals). Copy the PDF sole-source clause now. - [How to Track a Deferred Closing](https://raziel.co/learn/deferred-closing-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a deferred closing after signing. Log BLT/ABA 2025 (97 deferred vs 42 simultaneous). Copy the PDF dates, not a study day-count. - [How to Track an Earnout Indemnity Set-Off](https://raziel.co/learn/earnout-indemnity-setoff-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track an earnout indemnity set-off after signing. Log Goulston (more than one-half of earnouts). Copy the PDF setoff sentence, not 18%. - [How to Track a Purchase Price Adjustment Dispute](https://raziel.co/learn/purchase-price-adjustment-dispute-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a purchase price adjustment dispute after close. Log SRS Acquiom (22% of buyer-favorable claims disputed). Copy the PDF notices. - [How to Track a Purchase Price Adjustment](https://raziel.co/learn/purchase-price-adjustment-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a purchase price adjustment after signing. Log Wagner Hicks/ABA 2025 (90% of deals). Copy the PDF mechanism, not the escrow print. - [How to Track an Earnout Period](https://raziel.co/learn/earnout-period-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track an earnout period after signing. Log Fasken/SRS 2026 length skew (38% at 1-2 years). Copy the PDF window length, not presence 24%. - [How to Track Earnout Potential](https://raziel.co/learn/earnout-potential-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track earnout potential after signing. Log Fasken/SRS 2026 median (34% of closing payment). Copy the PDF max size, not ABA presence 18%. - [How to Track a Walk-Away Indemnity](https://raziel.co/learn/walk-away-indemnity-tracking) (2026-08-30, Exits & Liquidity, 4 min read): How to track a walk-away indemnity after signing. Log Fasken/SRS 2026 (11% non-RWI no-survival in 2025). Copy the PDF survival, not ABA 41%. ## Pages [1](https://raziel.co/learn/category/exits-liquidity) · [2](https://raziel.co/learn/category/exits-liquidity/page/2) · [3](https://raziel.co/learn/category/exits-liquidity/page/3) · [4](https://raziel.co/learn/category/exits-liquidity/page/4)