For securities counsel
A live window into the offering—while it is still running.
Counsel should not learn about a problem at closing, or after the investor suit. Sprowtt lets you see invitations, room access, document versions, and holds as the raise proceeds.
Why this page exists
Counsel gets a real-time window into the offering while it is being conducted. Professional-liability insurance pays after that window has closed. Sprowtt is the window.
While the raise is live, your firm's seat shows who was invited into the deal room, which documents changed, who is in the room and at what status, and whether a hold is on the file. Issues that become malpractice files are visible while they can still be fixed.
Intake you can defend
The company enters its profile, its officers, directors and 20%-or-more holders, and each offering's exemption. Records are kept, never deleted.
Exemption settings on the record
Each deal room is built for its exemption. A Rule 506(b) room opens by invitation only, and the exemption locks once the notice is published.
Activity, not recollection
Publishing, holds, investor entries, indications, subscriptions and 506(c) accreditation decisions are time-stamped in a log counsel can export as CSV.
What Sprowtt does not do
- We do not paper the offering.
- We do not opine on exemption availability.
- We do not find, match or contact investors.
- We do not take a percentage of the raise. Flat monthly software.
- Your firm remains counsel of record.
What your firm's seat does
See it live
Offering status, the investor register and document versions, plus every section or investor update waiting on you, update as the raise runs.
Hold the raise
Counsel review and holds sit on the file. A hold takes the notice down and stops new reservations and subscriptions; a blocked section stops publishing.
Hand over the record
Activity logs outlive inboxes. Export the audit log and a binder of sections, documents and investors for co-counsel, a carrier, or a receiver.
What LPL carriers already ask
Lawyers' professional-liability policies respond when the firm is sued—not when the company raising capital commits fraud. Insurer surveys rank corporate and securities work among the most severe sources of claims. The questions at renewal and in discovery are the same: who did you accept, how were investors checked, who saw which draft, and can you prove it. Sprowtt answers the ones about the offering with a dated record: who was invited, which documents changed, and when each step happened. In a Rule 506(c) offering it also shows how each investor was verified (a provider or an attorney's or CPA's letter), when the company accepted it, and when the 90 days run out. It is not insurance, and it does not change your coverage or your premium.
Transactional work, incl. corporate and securities, dominates claim volume and severity.1
EPIC Insurance Brokers, 16th Annual LPL Claims Survey (May 2026)
Insurers report more firms sued over a client's alleged crimes, not their legal advice.2
Ames & Gough, 2024 LPLI Claims Survey
11 of 13 insurers covering 80%+ of the Am Law 250 took part in a $100M+ payout in 2 years.3
Ames & Gough, 2024 LPLI Claims Survey
ABA Model Rule 1.16(a), amended Aug. 2023: inquire into and assess each representation.4
American Bar Association, Revised Resolution 100 (Aug. 2023)
Sources: EPIC Insurance Brokers, 16th Annual Lawyers' Professional Liability Claims Survey, as announced May 22, 2026; Ames & Gough, 2024 Lawyers Professional Liability Insurance Claims Survey (2024); American Bar Association, Model Rule of Professional Conduct 1.16(a), as amended by Revised Resolution 100 (August 2023). This is the ABA's model rule; each state adopts its own rules. Sprowtt does not sell insurance.
“Eight out of thirteen insurers reported higher claim frequency this year, which is a clear signal that the market has shifted.”
“What's most troubling about conflicts is that nearly all law firms are well aware of their potential risks and now have procedures and practices in place to avoid them.”
“There's a greater willingness for clients to turn against their lawyers.”
Book a counsel walkthrough
We will show you the review queue, a hold, the binder and the audit export on a sample workspace.
Pricing is a flat monthly subscription, never a success fee or a share of the raise. Pricing
Sprowtt provides software. It does not sell insurance, practice law, or act as a broker-dealer. Counsel remains responsible for the offering.