Terms of service

1. Who we are

Tracking Alpha is run by [Operator legal name, address and registration details to be set by counsel] ("we" or "us"). In these terms, "the owner" means the person who runs Tracking Alpha and reviews its facts. For any question about these terms, write to support@trackingalpha.app.

2. Your account

You must be at least 18 and able to enter a contract to use Tracking Alpha. An account is for one person: don't share it or your sign-in with anyone else. Keep your email account and password safe, give us accurate details, and tell us at support@trackingalpha.app if you think someone else has used your account. You are responsible for what happens in your account unless it happened because of our failure.

3. What the service does

Tracking Alpha is a monitor for special situations investors. It starts with US cash merger arbitrage: cash mergers and cash tender offers for US public companies. You can follow a deal or mark that you hold it. For each deal we keep a sourced record of its terms, conditions, dates and the actions holders need to take.

We check each live deal daily: new filings from SEC EDGAR, the delayed closing price, and a web search for news about the deal. We email you when a deal you follow or hold changes, remind you when a holder action is coming due, and send a weekly summary. You can choose which of these emails you get.

4. Facts and sources, not advice

Tracking Alpha gives you facts and where they came from. We don't make recommendations, give opinions or ratings, or give personalized investment advice. We don't tell you whether to buy, sell, hold, tender or vote. The market-implied chance of closing is a calculation from market prices, labelled as such, and is not our view of whether a deal will close.

We are not a broker, an investment adviser or a fiduciary, and we don't know your circumstances. You make your own decisions. Before you act, check the official documents, such as the merger agreement, the proxy statement or the offer to purchase, and check with your broker.

5. How facts are made, and their limits

An AI model reads each filing and proposes facts, each with the exact passage it came from. Our code checks that the passage appears word for word in the stored filing; a fact whose quote can't be found is never published. The owner reviews and approves every fact of every new deal before it is published.

After a deal is published, only these kinds of facts can publish automatically when their quote checks out: dates, the status of a condition, vote results, a closing and a termination. A new offer price, a change to fees and a new condition always wait for the owner's review. Findings from the web search are confirmed by the owner before members see them, at least for the first 4 weeks after launch.

These checks reduce errors but can't rule them out. A fact can still be wrong or out of date, a change can be missed or late, and a filing or web source can itself be wrong. Each fact links to its source so you can check it.

6. Prices, dates and broker cutoffs

• Prices are delayed daily closing prices from a third-party provider, never real time. Spreads, annualized returns and the market-implied chance of closing are calculated from them and are only as current as the last close.
• Dates can change. Deadlines are extended, meetings move and closings slip. Each date shows its type, such as an official deadline or an estimate.
• Broker cutoffs are the date you enter, or an estimate from the default you set. Brokers set their own deadlines, which can be earlier than the official one and appear in no filing. Always confirm the cutoff with your broker.

7. The accuracy credit

You can report an error with "Spot a wrong fact?" on a deal's page, or by writing to support@trackingalpha.app. You earn one free month if all of these are true:

• you held the deal in Tracking Alpha when you sent the report;
• a fact in its record was wrong, or a change that was in a filing was still missing from the record at the end of the next business day after the filing;
• the owner confirms your report.

One free month is your monthly price, or one twelfth of your annual price on an annual plan. We add it as a credit to your billing balance, and it is used on your future invoices. It is not cash and not a refund, and it isn't paid out if your subscription ends. You get one credit per confirmed report.

The credit covers what we control: whether our record matches what the filings say. It doesn't cover errors in filings or other sources, your broker's deadlines, prices, or how a deal turns out. To the extent the law allows, the credit is all we owe you for a wrong or missing fact.

8. Price and billing

Subscriptions are billed in advance, monthly or annually, through Stripe, and renew automatically at the end of each period until you cancel. The first 20 members pay the launch price of $20 a month or $200 a year. After that, new members pay the standard price of $29 a month or $290 a year. Prices are in US dollars, and taxes may apply on top. Checkout shows the price, any tax and the total before you pay.

You keep the price you joined at for as long as your subscription stays active. If we change prices for new members, your subscription doesn't move. If your subscription ends and you join again later, you pay the price we offer then.

If checkout names Stripe or Link as the merchant of record, it handles the payment, taxes, receipts and disputes under the terms shown at checkout, and we still provide and support the service. If a renewal payment fails, Stripe may retry it, and we may pause your access until it is paid or the subscription ends.

9. Cancelling and refunds

You can cancel at any time in Plan & billing, which opens Stripe's billing portal. Cancelling stops the next renewal, and you keep access until the end of the period you paid for.

If you ask within 30 days of your first payment (on a monthly plan, that is your first month), we refund that payment in full, no questions asked. Write to support@trackingalpha.app from your account email. A refund ends the subscription and your access. After those 30 days, we don't refund partial periods.

10. Acceptable use

When you use Tracking Alpha, don't:

• scrape, copy in bulk, redistribute or resell the deal records or our emails;
• access the service with bots, scripts or other automated tools, beyond normal use of the app and our emails;
• share your account or sign-in, or let others use your subscription;
• reverse engineer the service, or get around its security or limits, except where the law allows it;
• interfere with the service or other members, or use it for anything unlawful, including market manipulation.

11. Who owns what

The deal records we build (their facts, the way they are selected and arranged, the change history and the checklists), our emails, software and design belong to us. We give you a personal, non-transferable right to use them for your own investing while your account is active.

SEC filings are public documents, and we claim no rights in them. Web sources belong to their publishers; we link to them and quote short passages so you can check a fact.

What you enter, such as positions, broker cutoffs and notes, stays yours. You let us store and process it only to run the service for you. If you send us feedback or suggestions, we can use them to improve Tracking Alpha without owing you anything.

12. Availability and changes

We work to keep Tracking Alpha running, but we don't guarantee that it will always be available, or when a check will run or an email will arrive. Sources and providers can fail, and a deal page shows when we couldn't check it. Features marked beta may change or be removed.

We may change the service as it develops. If we stop offering Tracking Alpha altogether, we'll tell you in advance and refund the unused part of any period you paid for.

13. Ending your account

You can stop using Tracking Alpha and delete your account at any time. We may suspend or close your account if you seriously or repeatedly break these terms, don't pay, or if the law requires it. Where it's reasonable, we'll tell you why first and give you a chance to fix it. If we close your account because you broke these terms, we don't refund the rest of the period.

14. Disclaimers

To the extent the law allows, Tracking Alpha is provided as is and as available. We don't promise that every fact is complete or correct, that every change is caught, or that the service is right for any particular purpose. Nothing here limits a guarantee or right you have under consumer law that can't be excluded.

15. Limits on our liability

To the extent the law allows, we aren't liable for trading or investment losses, missed deadlines, lost profits, or any indirect or consequential loss. Our total liability to you for any claim about Tracking Alpha is limited to what you paid us in the 12 months before the event that led to the claim.

These limits don't apply where the law doesn't allow them, including for fraud, for death or personal injury caused by our negligence, or for any other liability that can't be limited.

16. Claims caused by your misuse

If someone makes a claim against us because you broke these terms or the law while using Tracking Alpha, for example by redistributing the deal records, you agree to cover our reasonable costs of that claim, to the extent the law allows.

17. Changes to these terms

Each version of these terms has its own number and date, shown at the top. We'll tell you by email or in the app before a change takes effect. If a change is material, we'll ask you to accept the new terms before you continue. If you don't accept them, you can cancel as described in section 9.

18. Governing law and disputes

These terms are governed by [Governing law to be set by counsel]. Disputes go to [Venue to be set by counsel]. If you are a consumer, you keep the protection of the mandatory laws and the courts of the country where you live.

19. General

These terms and the terms shown at checkout are the whole agreement between us about Tracking Alpha. If part of these terms can't be enforced, the rest still applies. If we don't enforce a term right away, we can still enforce it later. You can't transfer your account or these terms to someone else. Questions go to support@trackingalpha.app.