About Castle
A free terminal for investment banking activity, built on public SEC filings
What Castle covers
Seven sections, one datasetThe latest deals, IPOs and league table at a glance, and how complete each field is.
Announced deals involving U.S.-listed companies with their terms, volume over time, deal protections, time to close and activist campaigns.
- ValuationMultiplesPrecedentsDeal Books
Median EV / Adj. EBITDA, EV / Revenue and premiums by sector, and a precedent-transaction screen.
- AdvisorsAdvisors
League tables of the banks on each deal, the fees they earn and their client profiles.
- IPOsIPO Pipeline
Companies that filed to list on a U.S. exchange, from filing to pricing to trading, with their underwriters.
- MacroWorld Economies
GDP growth, inflation and central-bank policy rates for 11 major economies.
How a shock to rates, volatility or one sector ripples through deal activity, with its backtested accuracy.
How the data is made
Read, extract, check- Read
Several times a day, most often during the U.S. business day, Castle searches SEC EDGAR for new filings: deal press releases, merger 8-Ks, merger proxies and tender offers, IPO registrations and prospectuses, and Schedule 13Ds.
- Extract
Rule-based parsers read each document for the parties, price, premium, value, advisers and deal terms. No AI model writes the numbers: a term that isn't clearly stated is left blank, and values and multiples are calculated only from stated figures (offer price × shares, reported financials).
- Check
Every update ends with a data-quality audit, and records are re-checked as new filings arrive: a deal's status follows the target's own filings. Data Coverage shows how complete each field is.
Sources
Where the figures come from| SOURCE | USED FOR | TERMS |
|---|---|---|
| SEC EDGAR | Filings behind every deal, term, adviser, IPO and activist stake, and company financials (XBRL) | Public U.S. government data |
| IMF World Economic Outlook | GDP growth and inflation (current year is an IMF estimate) | © International Monetary Fund, used with attribution |
| Bank for International Settlements | Central-bank policy rates | © BIS, used with attribution |
| FRED, Federal Reserve Bank of St. Louis | Interest rates, the Baa credit spread, volatility and inflation behind the What-if history | Cited below |
| U.S. Bureau of Economic Analysis | Input-output tables behind the What-if sector links | Public U.S. government data |
| Yahoo Finance | Historical share prices behind the buyer-reaction study (to November 2026) and the sector returns the What-if links were estimated from. No longer updated. | Third-party market data |
- Chicago Board Options Exchange, CBOE Volatility Index: VIX [VIXCLS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/VIXCLS
- Federal Reserve Bank of St. Louis, Moody's Seasoned Baa Corporate Bond Yield Relative to Yield on 10-Year Treasury Constant Maturity [BAA10Y], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BAA10Y
- Board of Governors of the Federal Reserve System (US), Federal Funds Effective Rate [FEDFUNDS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FEDFUNDS
- Board of Governors of the Federal Reserve System (US), Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Quoted on an Investment Basis [GS10], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GS10
- U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items in U.S. City Average [CPIAUCSL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPIAUCSL
Accuracy and limits
Castle reads filings automatically, so it will sometimes miss a deal or read a figure wrong, and it covers the deals it can find in SEC filings, not the whole market. Every deal links to the filing it came from: check a figure there before relying on it.
Adj. EBITDA is operating income + D&A + impairment, restructuring, deal costs and stock compensation, less any large gain on a sale, last twelve months, from the target's filings. Calculated by Castle, so it can differ from a bank's adjusted figure.
Spotted something wrong? Reports go straight into fixing the parsers, so the same mistake doesn't happen again.
Report a data issueWho builds it
The name stands for Capital Advisory & Securities Transactions Ledger, from EDGAR: who advised, what was bought or listed, kept as a record from the SEC's own filings.
Castle is built and maintained independently. It costs nothing to use and needs no account.
Castle isn't affiliated with the SEC or with any company or bank it covers, and nothing on it is investment advice. See the Terms of Use and Privacy pages.