Hertz Global (HTZ) to terminate the ATM Program

Hertz Global (NYSE: HTZ)

As previously disclosed, on June 12, 2020, the United States Bankruptcy Court for the District of Delaware granted the motion of Hertz Global Holdings, Inc. (the “Company”) for authority to enter into an Offer and Sale Agreement and to sell shares of its common stock, par value $0.01 per share (the “Common Stock”). Also as previously disclosed, the Company commenced an “at the market” offering of up to $500 million of its Common Stock after the filing on June 15, 2020, of a prospectus supplement (the “Prospectus Supplement”) under its effective shelf registration statement on Form S-3 (File No. 333-231878) (the “ATM Program”).

In the afternoon on June 15, 2020, the Staff (the “Staff”) of the Securities and Exchange Commission’s Division of Corporation Finance verbally notified the Company that the Staff was reviewing the Prospectus Supplement. Promptly thereafter, the Company suspended all sales of Common Stock under the ATM Program.

Effective June 18, 2020, the Finance Committee of the Board of Directors determined that it was in the best interests of the Company to terminate the ATM Program and directed that the ATM Program be terminated.

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