Corporate ActionJul 23, 2026, 04:08 PM
Hertz Adjusts Public Warrant Exercise Price to $12.81, Shares to 1.0772
AI Summary
Hertz Global Holdings announced an anti-dilution adjustment to its public warrants. This action was triggered by the issuance of $380,000,000 in 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030 by its subsidiary, The Hertz Corporation. Consequently, the exercise price of the public warrants decreased from $13.61 to $12.81, and the number of shares a holder is entitled to upon exercise increased from 1.0140 to 1.0772.
Key Highlights
- Public warrant exercise price decreased from $13.61 to $12.81.
- Number of shares per public warrant increased from 1.0140 to 1.0772.
- Adjustment triggered by issuance of $350,000,000 Exchangeable Notes by subsidiary.
- An additional $30,000,000 in Exchangeable Notes were issued on July 10, 2026.
- The notes are 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030.
Price Impact
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