Can a regulator revoke my licence between signing and closing, killing the deal?

Yes, this is a genuine risk, and it's exactly the kind of thing a well-drafted purchase agreement should anticipate rather than leave to chance. A regulator's power to suspend or revoke a licence generally exists independently of your sale, and a compliance issue, complaint, or inspection finding that surfaces between signing and closing can trigger action regardless of how far along your deal is — this is a risk that exists for as long as the business operates, not something the sale process itself creates or controls.

If a licence essential to the business is revoked before closing, the practical effect on your deal depends on how the purchase agreement is drafted: whether continued licensing is a specific condition of closing, whether the buyer has a right to walk away or renegotiate if it's lost, and how any interim period between the loss of the licence and closing is handled.

Because this kind of regulatory risk sits outside either party's full control, it needs to be addressed explicitly in your closing conditions rather than assumed away. A Treadstone business lawyer can help build appropriate protections into your agreement.