Hertz Global Holdings, Inc. (HTZ) on Monday announced today the sale of an aggregate of about 49.8 million shares of common stock of Hertz Holdings by investment funds associated with Clayton, Dubilier & Rice, LLC, The Carlyle Group and BofA Merrill Lynch to Goldman, Sachs & Co., as the sole underwriter in the registered public offering of those shares.
The last reported sale price of Hertz Holdings' common stock on May 6 was $24.96 per share. Goldman Sachs proposes to offer for sale the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.
The announced sale of common stock represents the entire interest of the sponsors and their associated investment funds, except for de minimis amounts held by certain entities associated with the sponsors previously received as compensation for service on Hertz Holdings' board of directors or acquired in the ordinary course of business. Hertz Holdings will not receive any proceeds from the offering.
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