The Hertz Corporation, a subsidiary of Hertz Global Holdings Inc., is an American car rental company based in Estero, Florida that operates 10,200 corporate and franchisee locations internationally. As the second-largest US car rental company by sales, locations, and fleet size, Hertz operates in 150 countries, including North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East, and New Zealand. The Hertz Corporation owns Dollar and Thrifty Automotive Group – which separates into Thrifty Car Rental and Dollar Rent A Car.
Hertz Global Holdings, the parent company of The Hertz Corporation, was ranked 335th in Forbes’ 2018 Fortune 500 list. As of 2018, the company has revenues of US$9.5 billion, assets of US$21.3 billion, and 38,000 employees.
Hertz’s plan to sell $500 million in shares was “promptly suspended pending further understanding of the nature and timing of the Staff’s [SEC’s] review”. Hertz (HTZ) stock is down in the pre-market.
To sell the shares, Hertz has entered into an Open Market Sale Agreement, or sales agreement, with Jefferies LLC. In the pre-market today, Hertz (HTZ) stock is 9.52% up, $2.07 per share.
Hertz Global Holdings experienced more than 700% in its HTZ stock value in 4 days with a 24-hour rise of 112%. This growth comes days after the North American car rental service filed for bankruptcy.
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