# Exits & Liquidity | Raziel Learn (page 4 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/page/4 ## 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 an Indemnity Cap After Close](https://raziel.co/learn/indemnity-cap-tracking) (2026-08-27, Exits & Liquidity, 3 min read): How to track an indemnity cap after close. Log the general ceiling, carve-outs, claims toward the cap, remaining room, and any specific or RWI limits. - [How to Track a Special Indemnity After Close](https://raziel.co/learn/special-indemnity-tracking) (2026-08-27, Exits & Liquidity, 3 min read): How to track a special indemnity after close. Log each named matter, survival clock, basket and cap treatment, dedicated escrow, and open vs resolved status. - [How to Track Piggyback Registration Rights](https://raziel.co/learn/piggyback-registration-tracking) (2026-08-27, Exits & Liquidity, 3 min read): How to track piggyback registration rights. Log company notice windows, election deadlines, underwriter cutbacks, shares included, and termination triggers. - [How to Track Demand Registration Rights](https://raziel.co/learn/demand-registration-tracking) (2026-08-27, Exits & Liquidity, 3 min read): How to track demand registration rights. Log S-1 vs S-3 thresholds, minimum offering size, remaining demands, deferrals, cutbacks, and termination. - [How to Track a Right of First Refusal After a Transfer Notice](https://raziel.co/learn/rofr-tracking) (2026-08-25, Exits & Liquidity, 4 min read): How to track a right of first refusal after a transfer notice: notice date, shares, price, company vs investor windows, exercise vs waiver, leftovers. - [How to Track a Drag-Along Right After a Sale Notice](https://raziel.co/learn/drag-along-tracking) (2026-08-25, Exits & Liquidity, 5 min read): How to track a drag-along right after a sale notice: who can drag, vote threshold, sale terms, notice window, whether you are dragged, and pref-stack proceeds. - [How to Track a Tag-Along Right After a Co-Sale Notice](https://raziel.co/learn/tag-along-tracking) (2026-08-25, Exits & Liquidity, 5 min read): How to track a tag-along right after a co-sale notice: log the notice date, the seller, offered shares and price, your pro rata tag entitlement, and leftovers. - [How to Track Startup Secondary Sales and Tender Offers](https://raziel.co/learn/startup-secondary-sale-tracking) (2026-08-21, Exits & Liquidity, 4 min read): How to track startup secondary sales: split lots sold vs kept. IRS Pub. 551: identify shares or use FIFO. Remainder keeps original cost. Log leftover lockup. - [How to Track Private Equity Secondaries After You Buy](https://raziel.co/learn/pe-secondaries-tracking) (2026-08-21, Exits & Liquidity, 4 min read): How to track PE secondaries: ILPA Model LPA 17.2.2, a Substitute Partner succeeds to Remaining Commitment. Log price, transfer date, and new cost basis. - [Understanding the Benefits of Private Equity Secondaries](https://raziel.co/learn/benefits-private-equity-secondaries) (2025-03-14, Exits & Liquidity, 4 min read): Private equity secondaries offer liquidity and diversification. Learn how investors buy existing fund stakes to optimize returns and manage capital commitments. - [Understanding the Exit Landscape for Startup Investments](https://raziel.co/learn/exit-landscape-startup-investments) (2025-03-11, Exits & Liquidity, 6 min read): Startup exits shape investor returns. Learn how IPOs, acquisitions, and secondary sales impact venture capital strategies and liquidity planning. - [The Importance of Liquidity in Alternative Investments](https://raziel.co/learn/importance-liquidity-alternative-investments) (2025-02-25, Exits & Liquidity, 1 min read): Liquidity risk impacts alternative investments. Learn how investors manage cash flow, redemption terms, and exit strategies in private markets. - [The Importance of Exit Strategies for Startup Investors](https://raziel.co/learn/the-importance-of-exit-strategies-for-startup-investors) (2025-01-15, Exits & Liquidity, 5 min read): Learn why exit strategies are crucial for startup investors, from IPOs to acquisitions, to maximize returns and manage investment risk. ## 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)