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Posted On: 09/29/2018 3:12:52 PM
Post# of 72447
Re: Loose Lips #49289
I think Dr. Menon’s termination was to reduce operational cost and had nothing to do with the BP. Usually BP wants to add their people to the board and that should’ve been agreed upon in the signed term sheet.
I’ve watched many videos on term sheet and the DD period is usually 60-90 days (as Kelt said). Neither side wants to tie the other one up. Signing a term sheet is like getting engaged. That’s how serious the relationship is. I think the most time-consuming part of the DD is BP’s lawyers making sure the patents of B-OM & B-UP are valid.
Once DD is done, BP’s lawyers will start converting the term sheet into legal documents. How long that’s going to take is anyone’s guess. My guess is one month so a deal could be official before year end.
I’ve watched many videos on term sheet and the DD period is usually 60-90 days (as Kelt said). Neither side wants to tie the other one up. Signing a term sheet is like getting engaged. That’s how serious the relationship is. I think the most time-consuming part of the DD is BP’s lawyers making sure the patents of B-OM & B-UP are valid.
Once DD is done, BP’s lawyers will start converting the term sheet into legal documents. How long that’s going to take is anyone’s guess. My guess is one month so a deal could be official before year end.
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