SEC Reviews Hertz's Suspended $500M Stock Sale
June 18, 2020
disclosed, on June 15, 2020, Hertz Global Holdings entered into an open
market sale agreement under which the Company may offer and sell,
from time to time at its sole discretion, shares of its common stock,
par value $0.01 per share, having an aggregate offering price of up to
$500.0 million through an agent (the “ATM Program”).
The Company was advised orally by the Staff (the “Staff”) of the Commission’s Division of Corporation Finance in the afternoon of June 15, 2020 that the Staff intended to review the Prospectus Supplement. After discussions with the Staff, sales under the ATM Program were promptly suspended pending further understanding of the nature and timing of the Staff’s review. The Company is not currently offering any shares under the ATM Program. The Company’s advisors have been in regular contact with the Commission since the Staff’s initial contact on June 15, 2020.