"Who will underwrite it?" Private placements are done frequently. An underwriter and all that overhead can be avoided. With the stock so low there is probably someone knocking on their door now making a pitch.To borrow money they will have to show the ability to generate cash flow and plans to continue cash flow growth. For companies with sales in excess of $100 million, size brings credibility. Remember, they are going to borrow against their assets so the new stores are like homes. The bank is willing to lend if there is something you can touch and re-sell.Dave and Busters is far from going out of business. Because of their debt, they need to slow down and get under control. How they do it is still their option (i.e., they are not so far out of control that they will be considered a bad debt risk).