Since filing for bankruptcy on May 22, Hertz’s shares have risen more than threefold in value. Hertz is now seeking approval from a bankruptcy court to potentially sell 246.78 million unissued shares to Jefferies LLC. “The recent market prices of and the trading volumes in Hertz’s common stock could potentially present a unique opportunity for the debtors to raise capital on terms that are far superior to any debtor-in-possession financing,” the company said in a regulatory filing on Thursday. …read more
Source:: Yahoo Finance
