Hertz Global Holdings, which provides vehicle rental services, filed on Friday with the SEC to raise up to $100 million in an initial public offering. The company is currently listed on the OTC (HTZZ).
Hertz operates a vehicle rental business globally primarily through the Hertz, Dollar, and Thrifty brands from company-owned, licensee, and franchisee locations in the US, Africa, Asia, Australia, Canada, the Caribbean, Europe, Latin America, the Middle East, and New Zealand. The company also sells vehicles through Hertz Car Sales and operates the Firefly vehicle rental brand and the Hertz 24/7 car sharing business in international markets. In May 2020, Hertz filed voluntary petitions for relief under Chapter 11, and emerged from bankruptcy this past June.
The Estero, FL-based company was founded in 1918 and booked $5.7 billion in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol HTZ. Goldman Sachs, J.P. Morgan, Morgan Stanley, Barclays, and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
