We’ve come to the end of our 7-part series on selling an emerging growth company, and now it’s time to seal the deal. The closing is the crucial final step in the sale, where ownership of your company officially changes hands.
The actual closing is a fairly straightforward affair, and not unlike the closing of a real estate purchase. Two main things will happen. First, the finalized deal documents, signed by all relevant parties, are exchanged. The signing may take place at the closing, but in some instances, the documents may be signed ahead of time. Second, the buyer pays the agreed purchase price to the seller. Once these two things are done, the business officially belongs to the buyer. [Read more…]