Hertz Global Holdings (NASDAQ: HTZ) has announced an offering of $100,000,000 in shares of common stock, which will be lent to J.P. Morgan Securities LLC under a share lending agreement.

Under the terms of the arrangement, J.P. Morgan Securities LLC, acting as underwriter and share borrower, will receive all proceeds from the sale of the borrowed shares. Hertz will not receive any proceeds from the sale but will collect a nominal lending fee from J.P. Morgan Securities LLC for the use of the shares, according to a press release statement.