RE:RE:RE:Positive Thoughts and ResearchLet's not forget they completed TWO rounds of due diligence. With the 2nd round completion announced in the August PR. So I think timing could look like this:
Organization(4 - 8 Weeks) • Review strategy and timing • Advisor due diligence • Prepare teaser and memorandum • Finalize financial model • Finalize buyer/investor list - AUGUST 2024 PR
Marketing(5 - 7 Weeks) • Contact buyers/ investors, send out
teaser and NDA • Provide memorandum • Prepare manage-ment presentation -
OCTOBER 2024 (date noted on the presenation) Solicit Initial Indications(2 - 3 Weeks) Solicit initial indications of
interest • Enter second round discussions and select parties for management meetings • Answer follow-up questions - EARLY NOVEMBER 2024
Diligence(4 - 6 Weeks) Hold management presentations Provide access to data room • Formalized process for additional diligence requests - Begin detailed business, financial, legal, tax and accounting due diligence - BY END OF 2024
Solicit Detailed Bids(2 - 3 Weeks) • Evaluate and negotiate by playing interested LLP parties against each other • Choose best options • Draft purchase agreement and related documents - END OF JAN 2025
Final Negotiations (M&A Strategy) • Confirmatory due diligence • Final contract negotiations and documentation • Close and announce transaction - FEB 2025