Hertz Seeks Permission to Sell New Shares Amid Bankruptcy

Hertz World wide has requested a bankruptcy judge to approve a offer to provide up to 246.eight million unissued shares, up to $one billion, to Jefferies even as impending liquidation threatens to wipe out their value.

Hertz shares jumped to as superior as $5.fifty three soon after the filing right before falling to less than $three by Friday afternoon. The stock closed at 56 cents on Might 22.

“The recent market place prices of and the buying and selling volumes in Hertz’s typical stock most likely current a distinctive opportunity for the debtors to increase capital on terms that are

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