ESTERO, Fla., Dec. 22, 2021 /PRNewswire/ -- Hertz Global
Holdings, Inc. (NASDAQ: HTZ) ("Hertz" or the "Company") today
announced the final results of its tender offer (the "Offer") to
purchase all of its outstanding Series A Preferred Stock, par value
$0.01 per share (the "Series A
Preferred Shares"), at a price per Series A Preferred Share of
$1,250.00, less any applicable
withholding taxes, and the related consent solicitation (the
"Consent Solicitation") to amend the certificate of designation of
the Series A Preferred Shares (the "Proposed Amendment"). The Offer
and Consent Solicitation expired at midnight (at the end of the
day), Eastern Time on Tuesday, December 21,
2021.
Based on the final tabulation by Computershare Trust Company,
N.A., the depositary for the Offer and Consent Solicitation, all
Series A Preferred Shares were tendered and not withdrawn in the
Offer, and corresponding consents have been delivered in the
Consent Solicitation. Pursuant to the terms of the Offer and
Consent Solicitation, the Company has accepted for purchase all of
the Series A Preferred Shares tendered in the Offer, for an
aggregate purchase price of $1,875,000,000. The accepted shares represent
100% of the Company's outstanding Series A Preferred Shares as of
December 21, 2021. Based on the final
results, the requisite consent of at least a majority of the
outstanding Series A Preferred Shares required to approve the
Proposed Amendment was obtained, although it will not be necessary
to implement the Proposed Amendment in light of the fact that all
Series A Preferred Shares were tendered in the Offer.
The depositary will promptly issue payment for the shares
accepted for purchase. Payment for shares will be made in cash,
subject to applicable withholding and without interest.
ADDITIONAL INFORMATION REGARDING THE TENDER OFFER
This communication is for informational purposes only. This
communication is not a recommendation to buy or sell Hertz
Series A Preferred Shares or any other securities, and it is
neither an offer to purchase nor a solicitation of an offer to sell
Hertz Series A Preferred Shares or any other securities. Hertz
has filed a tender offer statement on Schedule TO (as amended or
supplemented, the "Schedule TO"), including an offer to purchase,
letter of transmittal and related materials, with the United States
Securities and Exchange Commission (the "SEC"). The Offer and
Consent Solicitation are only made pursuant to the offer to
purchase, letter of transmittal and consent and related materials
filed as a part of the Schedule TO. Stockholders should read
carefully the offer to purchase, letter of transmittal and consent
and related materials because they contain important information,
including the various terms of, and conditions to, the Offer and
Consent Solicitation. Stockholders may obtain a free copy of the
tender offer statement on Schedule TO, the offer to purchase,
letter of transmittal and other documents that Hertz has filed with
the SEC at the SEC's website at www.sec.gov or from the Hertz
website at www.hertz.com or
from the depositary for the tender offer.
ABOUT HERTZ
The Hertz Corporation, a subsidiary of Hertz Global Holdings,
Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands
throughout North America,
Europe, the Caribbean, Latin
America, 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
operates the Firefly vehicle rental brand and Hertz 24/7 car
sharing business in international markets and sells vehicles
through Hertz Car Sales.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this release include
"forward-looking statements" within the meaning of applicable
securities laws and regulations. These statements often include
words such as "believe," "expect," "project," "potential,"
"anticipate," "intend," "plan," "estimate," "seek," "will," "may,"
"would," "should," "could," "forecasts" or similar expressions.
These statements are based on the Company's current views with
respect to future events and the timing of the tender offer. These
forward-looking statements are subject to a number of risks and
uncertainties including prevailing market conditions, as well as
other factors. Forward-looking statements represent the Company's
estimates and assumptions only as of the date that they were made,
and, except as required by law, the Company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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SOURCE The Hertz Corporation