Hertz Global Holdings, Inc - Common Stock (HTZ)

What Happened? Shares of global car rental company Hertz (NASDAQ:HTZ) fell 27.6% in the morning session after the company reduced its second-quarter earnings...

Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”), a leading global rental car company, today announced that it intends to offer shares of its common stock, par value $0.01 per share, (the “Common Stock”) at an aggregate public offering price of $100 million in a SEC-registered offering. Such shares (the “Borrowed Shares”) will be loaned by the Company to J.P. Morgan Securities LLC (in such capacity, the “Share Borrower”), one of the underwriters of the offering of the Borrowed Shares, pursuant to a share lending agreement. The Share Borrower or its affiliates will receive all of the proceeds of the offering of Borrowed Shares and neither the Company nor The Hertz Corporation, the Company’s wholly-owned indirect subsidiary (the “Hertz Corp.”), will receive any of the proceeds of the offering, but the Share Borrower will pay the Company a nominal lending fee for the use of the Borrowed Shares pursuant to the share lending agreement. The Share Borrower will be required to return the Borrowed Shares (or identical shares of Common Stock) to the Company pursuant to the terms of the share lending agreement. The Company has been informed by the Share Borrower that it or one of its affiliates intends to sell the Borrowed Shares and use the resulting short position to facilitate transactions by which investors in the Notes (as defined below) may hedge their investments through short sales or privately negotiated derivatives transactions. The activity described above could affect the market price of the Common Stock otherwise prevailing from time to time. The offering of the Borrowed Shares is contingent upon the closing of a private offering of the Exchangeable Senior First-Lien Secured PIK Notes due 2030 (the “Notes”) that Hertz Corp. intends to offer, subject to market and other conditions, in a private placement to qualifying investors. The private offering of the Notes is not contingent upon the closing of the offering of the Borrowed Shares.

Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation (“Hertz Corp.”), intends to offer, subject to market and other conditions, $300 million in aggregate principal amount of Exchangeable Senior First-Lien Secured PIK Notes due 2030 (the “Notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Hertz Corp. also expects to grant the initial purchasers of the Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes are first issued, up to an additional $45 million in aggregate principal amount of Notes.

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Memorial Day weekend marks the unofficial start of summer travel season, and a new survey from Hertz shows Americans are doubling down on car travel, with 64% planning a road trip this summer. This resurgence reflects a growing desire to reclaim the road trip as an antidote to modern travel stress, embracing the freedom, flexibility and sense of control that driving brings to summer travel. As the country approaches its 250th anniversary, travelers are choosing iconic highways, scenic drives and experience-led itineraries as they rediscover the country through the open road.

Global car rental company Hertz (NASDAQ:HTZ) reported Q1 CY2026 results topping the market’s revenue expectations, with sales up 10.5% year on year to $2.00 ...

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Hertz Car Sales today announced the latest strategic expansion of its digital retail presence with eBay, bringing thousands of Hertz Certified, near-new vehicles to one of the world’s largest online automotive marketplaces. Through a dedicated Hertz Car Sales showroom, shoppers on eBay will have access to more than 8,000 vehicle listings, enjoying greater confidence, convenience, and value backed by a trusted brand.