Speaking as an attorney, if a deal is "finalized"

Speaking as an attorney, if a deal is "finalized" that would generally mean that it has been signed off on and no further approval is needed as to the material terms. It could mean that the material terms have been agreed to and then legal has to paper it, but that is different than needing approval of the material terms.

Often times, if circumstances demand it, the parties will move forward once the material terms are agreed to even though the final paperwork is still in progress, based upon good faith.