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Hertz Global Holdings announced an upsized public offering of 44,520,000 shares priced at $29.00 per share, conducted by certain stockholders. The company plans to repurchase 10,344,828 shares for $300 million using cash on hand. A 30-day option allows underwriters to purchase an additional 6,678,000 shares. Trading begins on the Nasdaq Global Select Market on November 9, 2021 under the ticker symbols HTZ and HTZWW, with the offering closing on November 12, 2021.
Hertz Global Holdings, Inc. (OTCPK:HTZZ) announced a public offering of 37,100,000 shares of its common stock by certain stockholders. Hertz plans to repurchase shares valued between $250 million and $500 million from underwriters as part of the transaction. The offering price is expected to range from $25.00 to $29.00 per share. Hertz will not receive any proceeds from the stock sales and intends to fund the repurchase using cash on hand. The company is also pursuing a listing on Nasdaq under the ticker symbol 'HTZ.'
Hertz Global Holdings announced strong financial results for Q3 2021, reporting total revenues of $2.2 billion, bolstered by a rebound in leisure travel and improved pricing power. Adjusted Corporate EBITDA reached a record $860 million, with a margin of 39%. In its Americas division, revenues rose 114% year-over-year, driven by disciplined fleet management and higher pricing. International operations saw revenues of $312 million, a 38% increase from 2020, despite ongoing travel constraints. The company remains optimistic about future growth opportunities.
Hertz Global Holdings, Inc. (OTCPK:HTZZ) announced the filing of a registration statement on Form S-1 with the SEC for a proposed public offering of common stock, expected to commence in Q4 2021. The offering involves shares sold by certain stockholders, with terms yet to be determined. Hertz plans to list its stock on the Nasdaq under the symbol 'HTZ'. Goldman Sachs, J.P. Morgan, and Morgan Stanley are among the lead managers for the offering. A prospectus will be available upon completion of the SEC review.
Hertz Global Holdings reported Q2 2021 revenues of $1.9 billion, reflecting strong leisure travel demand. Adjusted EBITDA stood at $639 million, achieving a 34% margin. Despite the positive revenue increase, the company reported a net loss of $168 million due to $633 million in reorganization expenses. Emerging from Chapter 11 on June 30, 2021, Hertz aims for a re-IPO by year-end 2021, capitalizing on fleet management improvements to meet resurgent demand.
Hertz Global Holdings (OTCPK: HTZZ; OTCPK: HTZZW) is set to report its second-quarter 2021 financial results on August 9, 2021, prior to market opening. Accompanying the earnings release, a pre-recorded audio commentary featuring President and CEO Paul Stone and CFO Kenny Cheung will provide insights into the company's performance. Hertz operates globally under various rental brands, including Hertz, Dollar, and Thrifty, and is recognized as a leading vehicle rental company.
Hertz Global Holdings, Inc. (OTCPK: HTZZ) announced the appointment of Jennifer Feikin to its Board of Directors, effective July 29, 2021. Feikin, an accomplished executive with extensive experience in digital technology and consumer product development, aims to enhance Hertz’s strategic direction. Her past roles include key positions in Google and AOL Time Warner, where she focused on innovation and product strategies. The board now comprises 9 members, and Hertz looks forward to benefiting from Feikin's expertise as it strives to increase value for its customers and shareholders.
Hertz Global Holdings, Inc. (OTCPK:HTZGQ) has successfully completed its Chapter 11 restructuring, emerging as a financially stronger entity. The Bankruptcy Court confirmed its Plan of Reorganization on June 10, 2021. Following this process, Hertz reduced its corporate debt by nearly 80%, eliminating $5 billion of debt and securing $5.9 billion in new equity capital. Effective July 1, the company's stock will trade under new symbols: HTZZ for common stock and HTZZW for warrants. Hertz aims to capitalize on recovery in travel demand and has executed operational improvements to enhance profitability.
