Episode 10: Equity Sales with Eric Part I-Letters of Intent

In this first installment of a three-part series, Alexander and Apex Partner and co-founder Eric Camm discuss the beginning of most M&A deals: letters of intent (LOIs). A letter of intent is a non-binding (in most respects) document that sets forth the parties’ understanding of the future transaction that they’ve come to after various discussions. Letters of intent are significant because they are the first acknowledgement that the two parties are really going to move forward with a proposed deal.

Though they can be as short as one page, LOIs often have complicating aspects: When should attorneys enter the picture? If most parts of an LOI are not binding, which parts are? What is the relationship between the terms in an LOI and what end up being the final terms of the transaction?  How do you know something is wrong with an LOI? Listen now to learn more about letters of intent and stay tuned for when Eric and Alexander take on due diligence in the next installment of this series.

Eric helped start The Apex Law Group in 2010 and has since become the Director of Capital Advisory with Turning Point Consulting, making him an especially good person to speak to on this topic. If you’d like to work with Eric or Turning Point, check out his bio on our website or visit Turning Point’s website at www.turning-point.com.

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