API · Exit · Corporate Transactions
Advance the corporate transaction.
Move a CorporateTransaction to its next stage. Stage progression is loi → due_diligence → definitive → regulatory_review? → closing → closed, with terminal cancelled and terminated states.
Approval gates (return 422 stockholder_approval_required if missing): - Advance to definitive for kind=merger requires a stockholder consent (DGCL §251(c)). - Advance to definitive for kind=asset_sale with substantially_all=true requires a stockholder consent (DGCL §271). - Advance to closing requires regulatory_review to be cleared if any of the registered regulatory_approvals[] have status: pending or filed.
Closing cascade (to_stage=closed): - Entity status transitions on target parties (active → acquired | merged | sold) per the transaction's kind. - Option treatment per treatment.options produces share_ledger cancel / payout / assumption entries. - SAFEs / notes resolve per treatment.safes / treatment.notes. - Articles of Merger / Bill of Sale / Stock Power filed. - Optional seller dissolution if post_closing_actions.seller_dissolution=true for asset sales (the seller entity advances into the dissolution cascade). - 1099-B / 8937 cascades for stockholder reporting.
Returns 202 Accepted. On completion, emits one of: corporate_transaction.created, corporate_transaction.advanced, corporate_transaction.closed, corporate_transaction.terminated. Subscribe via `POST /v1/webhook_endpoints` to consume.
Pre-conditions: transaction must be in a stage that permits the requested advance. Stage transitions: loi → due_diligence → definitive → closing → closed. Returns 409 invalid_stage_transition otherwise.
Last updated
Query Parameters
dry_runbooleanOptionalIf true, simulate the mutation and return the would-be resource, any cascaded
resources, and a fee estimate — without side effects. Available on every mutation.
Request Body
application/json
TypeScript Definitions
Use the request body type in TypeScript.
to_stagestringRequiredTarget stage.
regulatory_reviewis the holding stage betweendefinitiveandclosingwhile HSR / CFIUS / foreign-investment / sector approvals are pending. Skip whenhsr_required=falseand no other approvals apply.cancelledis only valid fromloiordue_diligence.terminatedis only valid fromdefinitive,regulatory_review, orclosing.- Closing into
closedruns the closing cascade (see operation description).
"due_diligence""definitive""regulatory_review""closing""closed""cancelled""terminated"stockholder_resolution_idstringOptionalRequired when advancing to definitive for kind=merger or for
kind=asset_sale with substantially_all=true. The referenced
Resolution must be actor: stockholder, subject: approve_merger
(or approve_asset_sale), and reflect majority approval per the
entity's bylaws.
post_closing_actionsobjectOptionalOnly consulted on to_stage=closed.
seller_dissolutionbooleanOptionalFor kind=asset_sale: automatically initiate dissolution on the
selling entity post-closing using procedure: default_281 and
cause: strategic_wind_down. Common in clean asset deals where
the seller has no remaining business after the sale.
distribute_proceedsbooleanOptionalAuto-distribute consideration to seller stockholders per the §151 preference stack at closing. Otherwise proceeds sit on the seller balance sheet pending later distribution.
reasonstringOptionalRequired when to_stage is cancelled or terminated.
Response Body
application/json
application/problem+json
application/problem+json
application/problem+json
application/problem+json
application/problem+json
Request
curl -X POST "https://api.mattermode.com/v1/corporate_transactions/{id}/advance" \ -H "Content-Type: application/json" \ -d '{ "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string" }'const body = JSON.stringify({ "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string"})fetch("https://api.mattermode.com/v1/corporate_transactions/{id}/advance", { method: "POST", headers: { "Content-Type": "application/json" }, body})package mainimport ( "fmt" "net/http" "io/ioutil" "strings")func main() { url := "https://api.mattermode.com/v1/corporate_transactions/{id}/advance" body := strings.NewReader(`{ "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string" }`) req, _ := http.NewRequest("POST", url, body) req.Header.Add("Content-Type", "application/json") res, _ := http.DefaultClient.Do(req) defer res.Body.Close() body, _ := ioutil.ReadAll(res.Body) fmt.Println(res) fmt.Println(string(body))}import requestsheaders = { "Authorization": "Bearer sk_test_4eC39HqLyjWDarjtT1zdp7dc", "Matter-Version": "2026-06-10", "Idempotency-Key": "ee7c3a9b-3f1a-4d8e-9b2a-7c5e1f0a2d4b",}payload = { "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string"}resp = requests.post( "https://api.mattermode.com/v1/corporate_transactions/ctx_T6yLpQ2w/advance", headers=headers, json=payload,)resp.raise_for_status()print(resp.json())import java.net.URI;import java.net.http.HttpClient;import java.net.http.HttpRequest;import java.net.http.HttpResponse;import java.net.http.HttpResponse.BodyHandlers;import java.time.Duration;import java.net.http.HttpRequest.BodyPublishers;var body = BodyPublishers.ofString("""{ "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string"}""");HttpClient client = HttpClient.newBuilder() .connectTimeout(Duration.ofSeconds(10)) .build();HttpRequest.Builder requestBuilder = HttpRequest.newBuilder() .uri(URI.create("https://api.mattermode.com/v1/corporate_transactions/{id}/advance")) .header("Content-Type", "application/json") .POST(body) .build();try { HttpResponse<String> response = client.send(requestBuilder.build(), BodyHandlers.ofString()); System.out.println("Status code: " + response.statusCode()); System.out.println("Response body: " + response.body());} catch (Exception e) { e.printStackTrace();}using System;using System.Net.Http;using System.Text;var body = new StringContent("""{ "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string"}""", Encoding.UTF8, "application/json");var client = new HttpClient();var response = await client.PostAsync("https://api.mattermode.com/v1/corporate_transactions/{id}/advance", body);var responseBody = await response.Content.ReadAsStringAsync();curl --request POST 'https://api.mattermode.com/v1/corporate_transactions/ctx_T6yLpQ2w/advance' \ --header 'Authorization: Bearer sk_test_4eC39HqLyjWDarjtT1zdp7dc' \ --header 'Matter-Version: 2026-06-10' \ --header 'Idempotency-Key: ee7c3a9b-3f1a-4d8e-9b2a-7c5e1f0a2d4b' \ --header 'Content-Type: application/json' \ --data '{ "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string"}'const response = await fetch("https://api.mattermode.com/v1/corporate_transactions/ctx_T6yLpQ2w/advance", { method: "POST", headers: { "Authorization": "Bearer sk_test_4eC39HqLyjWDarjtT1zdp7dc", "Matter-Version": "2026-06-10", "Idempotency-Key": "ee7c3a9b-3f1a-4d8e-9b2a-7c5e1f0a2d4b", "Content-Type": "application/json", }, body: JSON.stringify({ "to_stage": "due_diligence", "stockholder_resolution_id": "string", "post_closing_actions": { "seller_dissolution": false, "distribute_proceeds": false }, "reason": "string" }),});if (!response.ok) { throw new Error(`Matter API ${response.status}: ${await response.text()}`);}const data = await response.json();console.log(data);Response
application/json{
"resource": {
"id": "string",
"object": "corporate_transaction",
"kind": "merger",
"parties": [
{
"entity_id": "ent_Nq3KcAbc",
"role": "acquirer"
}
],
"stage": "loi",
"created": 1745539200,
"updated": 1745539200,
"livemode": false
},
"intent": {
"id": "string",
"object": "intent",
"goal": "form_startup_ready_corporation",
"parameters": {},
"status": "draft",
"created": 1745539200,
"updated": 1745539200,
"livemode": false
},
"execution_plan": {
"steps": [
{
"operation": "string",
"status": "pending"
}
]
},
"authorization": {
"id": "string",
"object": "authorization",
"token_id": "tok_4Kj2m8pQ",
"action": "string",
"payload_hash": "string",
"status": "pending",
"expires_at": 1745539200,
"created": 1745539200,
"updated": 1745539200,
"livemode": false
},
"pending_filings": [
{
"id": "string",
"object": "filing",
"entity_id": "ent_Nq3KcAbc",
"type": "certificate_of_amendment",
"jurisdiction": "US-DE",
"status": "preparing",
"created": 1745539200,
"updated": 1745539200,
"livemode": false
}
],
"cascaded_documents": [
{
"id": "string",
"object": "document",
"entity_id": "ent_Nq3KcAbc",
"type": "certificate_of_incorporation",
"status": "draft",
"sha256": "9f86d081884c7d659a2feaa0c55ad015a3bf4f1b2b0b822cd15d6c15b0f00a08",
"version": 1,
"created": 1745539200,
"updated": 1745539200,
"livemode": false
}
],
"cascaded_resolutions": [
{
"id": "string",
"object": "resolution",
"entity_id": "ent_Nq3KcAbc",
"kind": "board_meeting",
"subject": "Approval of 2026 Equity Plan and initial pool of 2,000,000 shares",
"created": 1745539200,
"updated": 1745539200,
"livemode": false
}
],
"events_emitted": [
"string"
],
"applied_defaults": [
"string"
],
"next_steps": [
{
"endpoint": "POST /v1/entities/ent_Nq3KcAbc/tax_elections",
"reason": "Founder restricted-stock issuances require 83(b) within 30 days."
}
]
}{
"type": "https://mattermode.com/docs/errors/invalid_request",
"title": "Invalid request",
"status": 400,
"code": "invalid_request",
"detail": "Request body could not be parsed as JSON.",
"doc_url": "https://mattermode.com/docs/guides/errors#invalid_request",
"request_id": "req_Qw9xYz8A"
}{
"type": "https://mattermode.com/docs/errors/authentication_required",
"title": "Authentication required",
"status": 401,
"code": "authentication_required",
"detail": "No bearer token was supplied. Pass `Authorization: Bearer sk_live_...` on every request.",
"doc_url": "https://mattermode.com/docs/guides/errors#authentication_required",
"request_id": "req_Qw9xYz8A"
}{
"type": "https://mattermode.com/docs/errors/invalid_state_transition",
"title": "Invalid state transition",
"status": 409,
"code": "invalid_state_transition",
"detail": "Entity ent_Nq3KcAbc is in state `dissolved`; `dissolve` is not a valid transition.",
"doc_url": "https://mattermode.com/docs/guides/errors#invalid_state_transition",
"request_id": "req_Qw9xYz8A",
"current_state": "dissolved",
"attempted_transition": "dissolve",
"allowed_transitions": []
}{
"type": "https://mattermode.com/docs/errors/dissolution_prerequisites_missing",
"title": "Dissolution prerequisites missing",
"status": 409,
"code": "dissolution_prerequisites_missing",
"detail": "Voluntary dissolution requires `board_resolution_id` and `stockholder_consent_id`, or `auto_generate_resolutions: true`.",
"doc_url": "https://mattermode.com/docs/guides/errors#dissolution_prerequisites_missing",
"request_id": "req_Qw9xYz8A"
}{
"type": "https://mattermode.com/docs/errors/valuation_stale",
"title": "409A valuation stale",
"status": 409,
"code": "valuation_stale",
"detail": "Active 409A val_AbCd1234 is older than 12 months or superseded by a material event. Issuing ISOs at the prior strike risks IRC §409A violation. Refresh via POST /entities/{id}/valuations/{id}/refresh_request.",
"doc_url": "https://mattermode.com/docs/guides/errors#valuation_stale",
"request_id": "req_Qw9xYz8A"
}{
"type": "https://mattermode.com/docs/errors/validation_failed",
"title": "Validation failed",
"status": 422,
"code": "validation_failed",
"detail": "One or more fields failed validation. See `errors[]`.",
"doc_url": "https://mattermode.com/docs/guides/errors#validation_failed",
"request_id": "req_Qw9xYz8A",
"errors": [
{
"field": "founders[0].equity",
"code": "out_of_range",
"message": "Equity must sum to 100% across all founders."
}
]
}{
"type": "https://mattermode.com/docs/errors/rate_limit_exceeded",
"title": "Rate limit exceeded",
"status": 429,
"code": "rate_limit_exceeded",
"detail": "Request rate exceeded for this key. Retry after `retry_after` seconds or honor the `Retry-After` header.",
"doc_url": "https://mattermode.com/docs/guides/errors#rate_limit_exceeded",
"request_id": "req_Qw9xYz8A",
"retry_after": 30
}