When a private equity-backed provider of minimally invasive outpatient surgical services was raising a new round of equity financing related to a restructuring effort, Stout was engaged by the board of directors to determine the fair market value of the company's equity. Having an independent opinion of value was critical to the board and shareholders as not all existing investors were participating in the financing round. Stout supported its valuation with multiple approaches, including the Discounted Cash Flow Method, Merger & Acquisition Method, and Guideline Public Company Method. We prepared a detailed narrative report and presented our conclusions to the board for its consideration related to the capital raise.