Does seem odd to expect to share code early and a risk to share it with any interested party.
I mean, it's someone else's code, your engineers are going to say it's rubbish, it needs a full rewrite and throwing away, warn us up front before you even think about acquiring such terrible code, etc. But if it's a built a company to the point of raising sufficient revenue/profit it's surely good enough.
It is. Normally you only do that after you agree on the terms and that means there is a deal unless something horrible is found during DD. And if your code is terrible simply disclose it then likely the requirement will go away. But if you claim it is super good but you only have juniors on staff you can expect to be quizzed.
I mean, it's someone else's code, your engineers are going to say it's rubbish, it needs a full rewrite and throwing away, warn us up front before you even think about acquiring such terrible code, etc. But if it's a built a company to the point of raising sufficient revenue/profit it's surely good enough.