This checklist summarizes the key action items from the paper “On the Nature of Due Diligence in a Search Fund Acquisition” (Yale SOM, May 6, 2022). 1. PRELIMINARY DILIGENCE CHECKLIST (Pre-LOI: Validate Fit, Price, Seller) Industry & Target Research Financial Validation Seller Assessment Ad Hoc Legal/Regulatory Scan Decision Gate 2. CONFIRMATORY DILIGENCE CHECKLIST (Post-LOI: 8…