Hertz Stockholders Price Public Offering Of 44.52 Mln Shares At $29.00/shr

(RTTNews) - Hertz Global Holdings Inc. (HTZZ) said that certain stockholders has priced upsized public offering of 44.52 million shares of its common stock at $29.00 per share.

Of the shares offered, Hertz expects to repurchase from the underwriters 10.34 million shares having an aggregate purchase price of $300 million at the price to the public in the offering.

In addition, a selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 6.68 million shares of Hertz common stock.

Hertz said it will not receive any proceeds from the sale of shares by the selling stockholders. Hertz expects to fund the Repurchase with cash on hand.

The shares are expected to begin trading on The Nasdaq Global Select Market on November 9, 2021 under the ticker symbol "HTZ." In addition, Hertz's outstanding warrants are also expected to begin trading on The Nasdaq Global Select Market under the ticker symbol "HTZWW" on that date.

The offering is expected to close on November 12, 2021.