Financing secured and moving into DD

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by a searcher
in Toronto, ON, Canada

2yrs ago

Financing secured and moving into DD

I have secured terms for a deal that I have under LOI, and planning to move into formal due diligence this week. Any tips or recommendations for first timers entering this phase?

I already have my legal and financial team set

Thanks!

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reply by a professional 2yrs ago
from Villanova University in West Chester, PA, USA

Congrats, ^redacted‌! Be very proactive in working with your legal team to make sure you understand all of the components of the transaction prior to closing. For example, when we're working with a client, we immediately provide the due diligence request list, the transaction timeline and closing checklist, and a list of material deal terms that if they have not been negotiated in the LOI they need to address ASAP. When you address those material deal terms during the due diligence phase, and prior to drafting the purchase agreement, it will help to minimize broken deal costs. Also, be sure to share as much information about the transaction as you can with your attorney. The more they know, the better they can represent you.

reply by an investor 1yr ago
from Northwestern University in Chicago, IL, USA

I would organize your diligence based on the most important items first and then work your way down from there. If the earnings of the business are not as reported, that is a much bigger problem than something small like a business license issue. It also avoids you meeting with employees or customers if a deal is not going to occur.