SEC Reviews Hertz's Suspended $500M Stock Sale

June 18, 2020

As previously 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 offering is pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-231878). On June 15, 2020, the Company filed a prospectus supplement (the “Prospectus Supplement”) relating to the ATM Program with the Securities and Exchange Commission.

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.

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