Use Acquire's step-by-step APA builder to send an Asset Purchase Agreement directly to a startup founder that's accepted your offer already.
After a buyer and a seller have both accepted the LOI Offer, a buyer can proceed to send an APA (Asset Purchase Agreement). APAs are legal agreements between a buyer and a seller that describes the terms, conditions, and assets of an acquisition. Once a buyer and seller sign the APA, the acquisition is legally binding on both parties. If you're looking to upload your own APA docs to send, skip to the bottom "Uploading an APA".
- Login to your Acquire account.
- Click on "My Deals" in the top navigation
- Find the startup you want to send an APA to and click on "View details -> " button.
- You should now be directed to the Due Diligence stage of the guided acquisition workflow where you'll need to find the startup seller you want to send an APA to and click "Send APA ->" to begin the process.
- Then you'll be guided through the Acquire APA builder flow to help gather the necessary details to populate your APA. Make sure the name of the startup you want to send an APA to is in the title. Click "Build an APA ->" to get started.
- Purchase Price - Enter the purchase price agreed upon between you and the seller. If you sent an LOI using Acquire's LOI builder, the purchase price is automatically pulled in from there. Edit as needed. Click the "Next ->" button at the bottom of the page.
- Closing Conditions - Add any employee/seller post-closing transition services or non-compete conditions applicable to closing. Click the tick box to enable either or both conditions and click "Edit employees ->" to add individuals that apply by first and last name. Edit as applicable. Click the "Next ->" button at the bottom of the page.
*These conditions are completely optional and may not apply to your acquisition.
- Additional Terms - You have the option to select the governing law jurisdiction.
Delaware is the most common and the most widely practiced by corporate attorneys. Edit as applicable. Click the "Next ->" button at the bottom of the page to continue.
- Escrow Conditions - Select whether you will use an escrow service to manage the release of acquisition funds. Acquire has a direct integration with Escrow.com and is a trusted third-party service for managing acquisition funds. We strongly recommend you use a trusted escrow service to protect you and the seller from fraud. Choose the appropriate option for you. Click the "Next ->" button at the bottom of the page.
- Assets - Please review the list of assets that are included in your acquisition. The list of assets from the startup listing is automatically pulled in already. Click "Edit assets ->" to edit the list of assets included in the acquisition as needed. Click the "Next->" button at the bottom of the page to continue.
- Review & sign APA - You're at the final stage where you'll now review all the details of the APA you entered in the previous steps for accuracy. Click the down-carrot to see each component and download the completed APA in a PDF by clicking on "Download to review". Click "Continue to sign ->" button at the bottom of the page to continue to signature.
- Review & sign APA - Sign the APA by typing in your signature and designate whether you're signing on behalf of yourself or an entity.
- Send APA to [Startup Name] - You're now ready to send your completed APA to the seller. Download the one-way signed APA doc for your records prior to sending to the seller. Include an optional message that will be included on delivery. Click "Send APA" at the bottom of the page to complete the process and deliver the APA to the seller.
- You'll be automatically redirected back to your guided acquisition workflow where you'll see a confirmation message that states - "Your APA was sent successfully and the seller has been notified!"
- The seller will receive an email and a message notification on Acquire.com to accept or reject the APA. You'll be notified via email of their action. Here's a preview of what the seller will see upon receiving the APA:
Uploading your own APA
- If you're sending your own APA doc rather than building it through Acquire, still start by clicking on "Send APA" to get started.
- Then click on the "Upload it now" link to get started.
- Fill the the purchase price and upload your document. Add an optional message along with your APA and click "Send APA" to deliver to the seller.
If you have any questions regarding the process, please reach out to us at email@example.com