Hertz Global Holdings Inc (HTZ)

[jaxstraw]

So tomorrow they issue newco stock ?

According to Barrons, Hertz could start trading at an initial value of $13.8, which values it at $6.5 billion. At this value, the company will trade at an EV-to-2023 EBITDA multiple of nearly nine times. Compared to this, Hertz’s close competitor Avis is trading at a NTM EV-to-EBITDA multiple of 22.8x. Therefore, Hertz is providing exposure to attractive rental car market dynamics at a very reasonable price.

[ANTADOG]

9,69~~ ANT

[ANTADOG]

"More upside is likely after Hertz exits bankruptcy -- expected on June 30, with the new stock trading the next day. Hertz will emerge with little or no net corporate debt, while Avis has about $3.5 billion..."
fyi ANT

[sony12]

When will this trade out of bankruptcy thanks

[ANTADOG]

anyone realized Hertz will rise again on little or no debt compared to the rivals? I did, new book, first chapter.... ANT

[alchemytrader]

Cant believe Carl Ichan lost like 1.5 billion here only to have to recover.

[Eldeano57]

https://invest.ameritrade.com/grid/p/site#r=jPage/https://research.ameritrade.com/grid/wwws/research/stocks/news/article?c_name=invest_VENDOR&docKey=1-DN20210628010417-010417

[ANTADOG]

Even 9 bucks is in the cards for today, goin' full effect today, ANT

[ANTADOG]

8,78~~ ANT

[ANTADOG]

and a new hod already, luv it, know it, ANT

[ANTADOG]

Gettin' close now, awesome, ANT

[ANTADOG]

wouldn't be surprised to see it break that 8,50 hod b4 close, let's see, ANT

[Eldeano57]

HOLD

[kingsransome]

so,current holders get $5 in warrant price,,may be tricky trading ahead,careful

[kingsransome]

funds may run this to $25 this week,,MHOP$$$$$

[Eldeano57]

https://www.barrons.com/articles/hertz-stock-price-forecast-51624661301

[MasterBlastr]

You lose the difference.

[Eldeano57]

What happens if it goes to $9-$10 in the meantime?

[MasterBlastr]

Hertz shareholders will get $1.53/share + 3% equity in the reorganized company + warrants. So really the value is just about where it sits right now.

https://www.marketwatch.com/articles/hertz-stock-bankruptcy-51623793538?mod=mw_quote_news

[LouisDesyjr]

The existing common is expected to not be totally wiped out

With all he strangness going on, the existing common is expected to recover some value. My problem is most of this 'expected value' is the long dated warrants with a term of 30 years. I think this is the longest dated options I have even seen.

Louis J. Desy Jr.

[LouisDesyjr]

Current valuation as of a few weeks ago was around $7.53/share

The thinking is the existing shares are worth around $7.50 or so; with the existing shares being exchanged for the following when the reorg is completed:

$1 stock (3% of new shares)
$1.53 cash
$5 in warrants (large parts of the value of the warrants is the 30 year term for them.

Louis J. Desy Jr.

[kingsransome]

lol,,not allowed

[MasterBlastr]

Short the pig to zero. Never cover. Free cash.

[kingsransome]

what u talkin bout willis,,shares are to be $7.36 and may be considerably more then $7.36 a share..says on live news ameritrade think or swim platform.

[MasterBlastr]

Commons will be cancelled. Anyone holding while they are cancelled will get zero. Warrants mean you will have the opportunity to buy at $5 regardless what they are trading at.

[LouisDesyjr]

The warrants, meaning the present value of them

What I mean is the warrants are being assigned a present value of $5, and most of that is because they are 30 year warrants.

Normally, I would agree with something like the Black-Sholes valuation formula but here it seems either it will be apparent within something like 10 or even 5 years if the company is going to be ok, or if the warrants will end up worthless; i.e. waiting the additional 20 years will do nothing since the company and stock will just 'wander'.

Louis J. Desy Jr.

[MasterBlastr]

I'll watch.

[Eldeano57]

576 shares @ avg 1.03. I hold till it hits 80 or so.

[MasterBlastr]

You just got lucky. Buy on a dip and hold.

[nagoya1]

Lose what - bought at 1.50ish and sold starting at 7.50 going upwards.
Your advice dont buy, thanks and I know jack sh’t. Hrtz some more

[MasterBlastr]

Keep holding . . . lose it all.

[nagoya1]

WOW, thanks for more lucrative advice. Had I listened to you back in March I would have sold and I wouldn't have sold in the $8s like I did.



MasterBlastr Member Level Wednesday, 03/03/21 05:42:31 PM
Re: Runners123 post# 30700 Post #3077 of 3257

Shareholders are getting wiped out. Period. Full stop.

Glad to see everyone knows what is going on...

I still have some free shares, I'll wait and see what happens.

BTW, I have no idea as to what will happen, and this is not meant as trading advice.

HRTZ

[MasterBlastr]

HTRGQ shares vanish. No exchange of shares. Everyone except old shareholders will be issued shares in the reorganized company. Of course there will be some that will deny what is happening. Just like so many people who died of COVID but never believed that is what it was. Refused to accept what was killing them until the lights went out.

[WidePile]

So, I YOLO'd with HTZGQ over a year ago and held on through it all netting a >750% return.

Can someone informed share the latest with respect to HTZGQ shareholders? We got the warrants, but what happens to the currently existing shares outstanding? I still have some outstanding shares and it's not clear if they will go to $0 (SELL!) or just become shares in the new company (i.e. HOLD!).

There is no investor relations email or phone number and even my brokerage doesn't seem to know.

TL;DR = Is Hertz changing ticker symbols when they come out of bankruptcy thus rendering the existing shares null and void ($0) or are they keeping the same ticker?

[MasterBlastr]

If all that commons are getting is $5 warrants, watch the share price get absolutely crushed.

[LouisDesyjr]

Wonder about reorg value

It looks like most of the reorg value for the existing common shares is the new warrants, like on the order of $5 per share. I think the warrants have a term of something unusual long, like 30 years and do wonder if the typical methods of valuing warrants really should be used.

The expectation is the longer the term the better chance a company has reaching the exercise price, but I would expect if a company is not showing promise within 5 or 10 years it probably is never going to get there; so giving that extra time value in assessing the present value of the warrants might have people assigning too high a value to them.

Louis J. Desy Jr.

[kingsransome]

shares a proposed to be much higher then the $7.45 what was said recently $$$

[nagoya1]

DOes this still apply now...HRTZ

[eddy2]

New common shares will be introduced by way of a forward split while additional equity is introduced by debt holding the outstanding shares at the present status. Tax credit will slowly be converted over too receivables for the common shareholders as the new tax debt is paid down. Rocky road ahead buy the dips and sell on the rise. Very promising indeed.

[nagoya1]

Well lookie lookie, hertzing along some me more.
Hrtz

[kingsransome]

insiders locked shares up,,,squeez to $22+ again,,soon nuff $$$$ MHOP

[nagoya1]

Still hertzing along. HRTZ

[hyborianwar]

will there be new shares issued?

[NYC_JimBob]

Hertz so good ......

[nagoya1]

Keep it up. HTRZ

[nagoya1]

Keep up the hurts, hrtz.

[VwapWickHunter125x]

Hmmm

[nagoya1]

Hertzing some more.

[nagoya1]

Come on hertz- u can do it.

[$Pistol Pete$]

Nice