WASHINGTON In a move that some bankers and commentators have called insane, coronavirus-hit car rental company Hertz was granted permission Friday to sell $1 billion in shares, an extraordinary move after it declared bankruptcy in the United States and Canada.
The unusual green light was given by a bankruptcy court in the US state of Delaware, which held a hearing and approved the Motion, according to documents filed by Hertz with the Securities and Exchange Commission (SEC).
The company says it will sell the shares at its discretion in terms of timing and volume.
A former banker at the Jefferies financial services company, Dan Polner, calle…
Read the full article at: https://www.timesofisrael.com/absolutely-insane-hertz-despite-bankruptcy-allowed-to-sell-1b-in-shares/
