That will not happen. The stock is worthless.
Even if the plan did change, there still will not be any money for common shareholders. It is an impossibility, as common shareholders are always dead last in line in a bankruptcy. Everyone else must be satisfied 100% of what they are owed before common shareholders are even considered.
Since the current plan is not even close to satisfying 100% of the claims in front of them, common shareholders won't get a penny.
The only chance of anything for common shareholders would be if the new owners wished the stock to remain publicly listed. In such a scenario, the current shareholders would receive a tiny percentage of the new shares in order to continue the stock's publicly traded status. But that is not, and will not, happen in this case, as the new owners have no desire to maintain Hertz's publicly traded stock. And even if it did, the overall return to existing shareholders would only be a few cents, far less than the current trading price of the bankrupt shares.
Common shareholders are being wiped out. The stock is worthless and going to $0. That is how bankruptcy works.
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