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May30
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 Term Sheet: A Term Sheet is customarily presented by an investor to a company seeking capital as a non-binding outline of the structure of the proposed investment. It typically contains basic deal terms, but not the details.
There are some elements of a term sheet that are typically binding. Frequently, there is a no shop provision that prevents the company from showing the term sheet to other candidate investors.
Once a term sheet is executed, the parties typically act as if it were binding. They all work toward closing a deal that looks and feels like the deal they'd agreed to complete in principle.
During this final stage of funding, the investor's diligence efforts will continue. As a result, material changes to the deal may be required. Such changes should not be presumed to be malicious on the part of the investors.
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May29
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Emily Lyman, Intern, joined Thorpe Capital Group in January 2006. She is currently enrolled in the Honors Program at the University of Utah and is pursuing undergraduate degrees in Finance and Entrepreneurship. She will graduate in 2007.She served as the...
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May25
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Ken Lay's and Jeff Skilling's guilty verdicts today prove something that few people are talking about: we didn't need Sarbanes Oxley. Lay and Skilling, the crooks who ran Enron into the ground, may be sentenced to terms in excess of...
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May24
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Today, I visited Salt Lake Neighborhood Housing Services (SLNHS) with Emily Lyman, an intern in our office. We are researching and developing plans around a new business line that we hope will allow us to do well doing some good.It...
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May23
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Since the beginning of January, our firm, the Thorpe Capital Group, has hired four women, including two interns, our new office Manager and a new analyst. We also hired one guy.This circumstance caught me somewhat by surprise today when I...
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May22
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A great friend and hero of mine, Jack Brittain, will introduce the state's new USTAR initiative to the MountainWest Capital Network in June. My firm, the Thorpe Capital Group, is sponsoring the event.Jack is the Dean of the David Eccles...
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Reverse Triangular Merger: Not to be confused with a "reverse merger" a reverse triangular merger refers to a transaction in which the acquiring company forms a subsidiary for the special purpose of merging with the target company. By virtue of...
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May19
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Ryan Money, a good friend, entrepreneur and Utah blogger is hosting a blogging conference for Utah bloggers on June 13 at the Miller Business Innovation Center.In case you've forgotten, you can see Ryan describing his business, HireVue in a prior...
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Below is a video interview I conducted with Joe Strain from the Salt Lake Office of PricewaterhouseCoopers, who manages the office's local efforts with respect to the MoneyTree Report. The report tracks venture deals nationwide.Click on the video below! ...
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Lynn R. Blodgett, an entrepreneur from Utah, spoke today to the MountainWest Capital Network about his career as an entrepreneur and an executive with Affiliated Computer Services, Inc. (NYSE: ACS). The story was fascinating.Lynn, and his late brother Jim, ran...
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May16
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Guy Kawasaki, investment banker, venture capitalist, blogger, author, entrepreneur presents at Stanford University on a key to entrepreneurial success: meaning. He suggests that every successful venture in which he has been a part that has been successful sought to make...
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May15
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Brad, this is a great post with great insight. The problem for start-ups is not the outcome, but the process--just one more bit of friction in what is already a challenging venture environment.
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May14
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Mergers & Acquisitions (M&A): The phrase mergers and acquisitions gets tossed around a lot to refer to business combinations of all sorts and to the investment banking specialty of advising companies about such deals. Colloquially, the term merger is generally...
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May 9
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Today, Shelli Gardner, CEO and Founder of Stampin' Up, spoke to the Utah Chapter of the Association for Corporate Growth. Stampin' Up is a $300+ million revenue scrapbooking company based in Utah. (I know, I promised not to mention scrapbooking,...
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May 8
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EBITDA: Earnings Before Interest Taxes Depreciation and Amortization. EBITDA is a measure of earnings and cash flow. Its relevance and significance varies from industry to industry. Like any other measure of profitability it should be considered with others and in...
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May 6
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Yesterday, the David Eccles School of Business at the University of Utah, recognized three people with Distinguished Alumni awards at graduation ceremonies.The three were Mary Kay Griffin, John A. Scowcroft and yours truly, Devin D. Thorpe.A public statement from the...
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May 4
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The MountainWest Capital Network released its first quarter deal flow report for Utah business transactions today.The report notes that there were no IPOs during the first quarter of 2006 in Utah.Utah Companies raised over $72 million in venture capital and...
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Joe Halford, a recent graduate from the David Eccles School of Business at the University of Utah just joined Thorpe Capital Group as an analyst. We are excited about his arrival because he's been working for the University Venture Fund...
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We recently added a new member to the Thorpe Capital Group team. Madelyn Roberts is our new Office Manager and she is doing a fabulous job! Her bio from our official web site says: Madelyn Roberts, Office Manager, joined Thorpe...
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May 3
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The following executives and entrepreneurs have been recognized by Utah-based venture fund vSpring Capital as the v|100, the entrepreneurs and executives most likely to lead a successful IT or biotech venture in the next 5 to 7 years: Adam Edmunds ...
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CFO.com reports today that the number of LBO's (leveraged buyouts) among public companies with a market capitalization of less than $2 billion has an annual rate of 52 (13 in the first quarter), a pace not seen since 2000. This...
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May 1
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Fred Wilson refers us today to Chartreuse who points out that YouTube is becoming the New Hollywood.I love YouTube. Not because of all the worthless, unentertaining drivel posted there, but for the technology that allows a person to create something...
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Term Sheet: A Term Sheet is customarily presented by an investor to a company seeking capital as a non-binding outline of the structure of the proposed investment. It typically contains basic deal terms, but not the details.
