And if they secure replacement funding they are no longer insolvent.
It's not just as simple as you suggest, PE would most likely provide their own funding after taking control. Having a letter of intent from a new funder replacing the debt would change everything from what you suggest.
PNC Price at posting:
$2.46 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)