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Monday, October 18, 2021

Q Stock, New Funding; the Rise of Hertz Global Holdings (OTCMKTS: HTZGQ)

Hertz Global Holdings (OTCMKTS: HTZGQ) has been making an explosive move up the charts in recent days quickly emerging as a volume leader in small caps. HTZGQ started trading on the pink sheets after the NYSE determined that Hertz was no longer suitable for listing following the Company’s May 22, 2020 Chapter 11 filing and its review of the Company’s appeal of the delisting.

Penny stock speculators are all too familiar with the spectacular runs many of these big-boards make in bankruptcy after hitting the OTCQB and there is certainly huge potential for HTZGQ now that they have secured $5.65 billion in funding total according to the WSJ to buy a new fleet of cars. Some of the most historic q runners in recent years are WAHUQ, LEHKQ and LEHLQ.

Hertz Global Holdings (OTCMKTS: HTZGQ) operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin American, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. Hertz was recently ranked No. 1 overall ranking for Customer Satisfaction in the J.D. Power 2020 North America Rental Car Satisfaction Study, which surveys leisure and business customers. Hertz also received top honors in the following categories: reservation process, pick-up process and rental car, which includes satisfaction with the overall vehicle and its cleanliness.

Several weeks ago Hertz secured commitments for debtor-in-possession (“DIP”) financing totaling $1.65 billion and has filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware. The proposed DIP financing will support the Company as it moves through its next stage of its Chapter 11 process. The financing is to be provided by certain of the Company’s pre-petition first-lien lenders and is expected to be structured as a delayed draw term loan debtor facility. This has been followed by the WSJ reporting Hertz has secured another $4 bilion on top of the 1.65 billion to carry itself through bankruptcy.

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HTZGQ

Hertz President and CEO Paul Stone said, “This new financing will provide additional financial flexibility as we continue to navigate the pandemic’s effects on the travel industry and take steps to best position our business for the future. We are pleased with the strong interest from our pre-petition first-lien lenders and appreciate their support of Hertz and our future opportunities as a rental car leader.”

On October 30 Hertz announced its common stock will start trading exclusively on the over-the-counter market. Stock quotations will be available on the OTC Bulletin Board (Pink Sheets) under the ticker symbol HTZGQ. The NYSE determined that Hertz was no longer suitable for listing following the Company’s May 22, 2020 Chapter 11 filing and its review of the Company’s appeal of the delisting. The stock will no longer trade on the NYSE effective October 30, 2020.

Hertz is suddenly looking to be in good shape after the WSJ reported: “Hertz Global Holdings Inc. soon plans to line up a $4 billion financing package to refresh its vehicle fleet, on top of a $1.65 billion loan to carry itself through bankruptcy.”

https://twitter.com/Stockpro1221/status/1323353763680276483

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Currently running northbound in a hurry HTZGQ is an exciting story in small caps quickly making waves since hitting the pinksheets on October 30 after the NYSE determined that Hertz was no longer suitable for listing following the Company’s May 22, 2020 Chapter 11 filing and its review of the Company’s appeal of the delisting. Penny stock speculators are all too familiar with the spectacular runs many of these big boards make in bankruptcy after hitting the OTCQB and there is certainly huge potential for HTZGQ now that they have secured $5.65 billion in funding total according to the WSJ to buy a new fleet of cars. Some of the most historic q runners in recent years are WAHUQ, LEHKQ and LEHLQ and we have covered many of them. We will be updating on HTZGQ when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HTZGQ.

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Disclosure: we hold no position in HTZGQ either long or short and we have not been compensated for this article.

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