Distribute merger consideration to every payee before end of day
Cleo Pay replaces paper-based paying agent processes. Shareholders and optionholders self-onboard digitally, W-9s collect automatically, and ACH payments settle in 1-2 days.
Different stakeholders. One platform.
Cleo Pay adapts to every role in the transaction, from deal counsel managing compliance to PE firms tracking LP distributions.
Deal Counsel
Compliance and document oversight for the entire transaction
- Track W-9 and OFAC clearance status per payee in real time
- Review and approve escrow release instructions before funds move
- Export 1099 data and payment audit logs for closing binders
- Set hold conditions that block payment until requirements are met
PE Firms
Fund-level visibility into distributions and LP waterfall
- See real-time disbursement status across portfolio company exits
- Track LP-level payout breakdowns with waterfall calculations
- Download fund distribution statements and wire confirmations
- Manage multiple deals and entities from a single dashboard
Shareholders
A self-service portal for onboarding, W-9s, and payment tracking
- Complete W-9 and bank setup in under 5 minutes from any device
- View exact payment amount, hold status, and estimated settlement date
- Receive email confirmation and downloadable wire receipt instantly
Complete your payment setup
Summit Capital / Apex Holdings LLC acquisition
Tax Information
Payee Onboarding
Every payee self-onboards in under 15 minutes
Send each shareholder and optionholder a personalized link. They complete bank details, W-9 or W-8, and e-signature in one flow. No paper forms. No follow-up calls. No back-and-forth.
- ›Personalized link per payee, valid for 30 days
- ›W-9 and W-8 collected in the same flow, not separately
- ›Bank verification via Plaid or manual entry
- ›E-signature on Letter of Transmittal included
Deal Dashboard
Every deal team member sees the same live picture
Deal counsel, advisors, and the seller’s representative track every payee in real time. No status calls. No email threads. One dashboard from signing through final distribution.
- ›Per-payee onboarding status: link sent, form started, completed, verified
- ›Document submission tracker: LOT, W-9, joinder, 280G consent
- ›Payment status updated as ACH settles
- ›Exportable audit trail for any point in the process
Apex Holdings LLC
Active| Payee | Role | Consideration | Onboarding | W-9 | Payment |
|---|---|---|---|---|---|
| Mountain Equity Partners LP | Preferred | $12,400,000 | ✓ Complete | ✓ Received | Paid May 12 |
| First Capital Trust | Common | $3,100,000 | ✓ Complete | ✓ Received | Paid May 12 |
| Acme Ventures Fund III | Preferred | $8,240,000 | ✓ Complete | ✓ Received | Paid May 12 |
| Sarah Chen | Option Holder | $284,000 | ✓ Complete | ✓ Received | Paid May 12 |
| Bridgewater Holdings | Common | $4,800,000 | ✓ Complete | ✓ Received | Paid May 12 |
| James Rodriguez | Option Holder | $118,400 | ✓ Complete | ○ Pending | Awaiting W-9 |
| Apex Management LLC | Common | $2,100,000 | In Progress | — | — |
Payment Execution
ACH in 1-2 days. Not 6.
The average bank paying agent takes 6 days from closing to deposit. Cleo Pay runs ACH disbursements in parallel across your entire payee population. Payments land in 1-2 business days. Failed attempts are flagged immediately with automatic re-notification.
- Standard and same-day ACH available
- Parallel processing across all payees simultaneously
- Failed ACH flagged instantly, automatic re-notification sent
Payment Timeline · Mountain Equity Partners LP
$12,400,000
Preferred Shareholders
Deal closed
May 12, 2026 · 3:47 PM ET
Payee onboarded
May 12, 2026 · 4:02 PM ET
Completed in 14 minutes
ACH initiated
May 12, 2026 · 4:15 PM ET
Routing: ••••0021 · Acct: ••••4892
Payment settled
May 13, 2026 · 9:23 AM ET
Deposited $12,400,000
$2.1B+
distributed across M&A transactions
18 hrs
median closing to payment
100%
digital, no paper LOTs
FAQ
Common questions about M&A paying agent services
Get Started
Ready to close your next deal faster?
Schedule a 20-minute walkthrough. See the full payee onboarding, deal dashboard, and ACH disbursement flow.
No minimum deal size. No enterprise contract required.