Interesting information from the fact sheet:
19. Did the Company try to get a DIP loan from anybody else?
The Company and its advisers reached out to nearly 20 different parties seeking a DIP loan.
After numerous discussions with DIP lenders, it became clear that due to the Company’s lack of collateral, the ability to obtain a loan from a traditional DIP lender was impossible. They simply weren’t willing to take the risk of loaning money to a company in Chapter 11 with little to no collateral to back the loan.
So apparently we tried to get traditional DIP financing but were denied because we had no collateral (assets). Looks like the only thing that saved us from liquidation was Delta's desire to keep Pinnacle around to compete with other regionals........