Stout provided sell-side financial services to a private online university. The online education provider offers associate’s, bachelor’s, master’s, and doctoral degree programs online in behavioral science, business, criminal justice, nursing, and education.

The Stout Financial Due Diligence team performed quality-of-earnings analysis and net working capital procedures. The Stout team assisted in various analyses, including understanding the impact of cash versus accrual accounting, discontinued offerings, and pro forma adjustments for the run rate of new initiatives. A key focus area also related to the analysis of student payment plans and the resulting collection risk.

Stout was involved throughout the process assisting management, financial advisors, and legal advisors with buyer inquiries, net working capital peg, and other financial analysis.