On June 13, 2019, Hertz Global Holdings, Inc. (“Hertz Global” or the “Company”) issued a press release announcing the approval by the Company’s board of directors of the Company’s rights offering to raise proceeds of up to $750 million (the “Offering”). to the Offering, each stockholder of the Company will receive one transferable subscription right for each share of common stock held as of 5:00 p.m. Eastern Time, on June 24, 2019. A copy of the press release is furnished as Exhibit 99.1 to this current report. The Offering will be made only by means of a prospectus, and this Form 8-K and the press release furnished as Exhibit 99.1 do not constitute an offer to sell, or a solicitation of an offer to buy, any of the Company\’s securities.

On June 13, 2019 at 8:30 a.m., Eastern Time, the Company will conduct a live webcast and conference call to discuss the Offering, which can be accessed through a link on the Investor Relations section of the Hertz website, IR.Hertz.com, or by dialing (800) 230-1074 or (612) 234-9960. Certain financial information relating to the Company\’s second quarter 2019 outlook will be discussed on the webcast and is included in the prospectus supplement filed with the Securities and Exchange Commission (the \”SEC\”) related to the Offering. The webcast will include a non-GAAP financial measure. A description of this non-GAAP financial measure is included in the prospectus supplement filed with the SEC related to the Offering.

This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set forth by specific reference in such a filing.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this release include \”forward-looking statements.\” Forward-looking statements include information concerning the rights offering, the Company\’s liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. 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 certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company\’s actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on Forms 10-K, 10-Q and 8-K filed or furnished to the SEC.

Among other items, such factors could include: whether the Company will distribute rights on June 26, 2019 to its stockholders of record; whether stockholders of record will have until July 12, 2019 to exercise their rights; the Company’s expectations that the rights will be admitted for trading on the NYSE; the expiration date of the rights offering; the levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; the effect of the Company\’s separation of its vehicle and equipment rental businesses, any failure by Herc Holdings Inc. to comply with the agreements entered into in connection with the separation and the Company\’s ability to obtain the expected benefits of the separation; significant changes in the competitive environment and the effect of competition in the Company\’s markets on rental volume and pricing, including on the Company\’s pricing policies or use of incentives; occurrences that disrupt rental activity during the Company\’s peak periods; the Company\’s ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in its rental operations accordingly; increased vehicle costs due to declines in the value of the Company\’s non-program vehicles; the Company\’s ability to maintain sufficient liquidity and the availability to it of additional or continued sources of financing for its revenue earning vehicles and to refinance its existing indebtedness; the Company\’s ability to purchase adequate supplies of competitively priced vehicles and risks relating to increases in the cost of the vehicles it purchases; the Company\’s ability to adequately respond to changes in technology and customer demands; the Company\’s ability to retain customer loyalty and market share; the Company\’s recognition of previously deferred tax gains on the disposition of revenue earning vehicles; an increase in the Company\’s vehicle costs or disruption to its rental activity, particularly during its peak periods, due to safety recalls by the manufacturers of its vehicles; the Company\’s access to third-party distribution channels and related prices, commission structures and transaction volumes; the Company\’s ability to execute a business continuity plan; a major disruption in the Company\’s communication or centralized information networks; a failure to maintain, upgrade and consolidate the Company\’s information technology networks; financial instability of the manufacturers of the Company\’s vehicles; any impact on the Company from the actions of its franchisees, dealers and independent contractors; the Company\’s ability to sustain operations during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; the Company\’s ability to maintain favorable brand recognition and a coordinated branding and portfolio strategy; the Company\’s ability to maintain an effective employee retention and talent management strategy and resulting changes in personnel and employee relations; costs and risks associated with litigation and investigations; risks related to the Company\’s indebtedness, including its substantial amount of debt, its ability to incur substantially more debt, the fact that

substantially all of its consolidated assets secure certain of its outstanding indebtedness and increases in interest rates or in its borrowing margins; the Company\’s ability to meet the financial and other covenants contained in its senior credit facilities and letter of credit facility, its outstanding unsecured senior notes, its outstanding senior second priority secured notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and the Company\’s ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on operating results; risks associated with operating in many different countries, including the risk of a violation or alleged violation of applicable anticorruption or antibribery laws and the Company\’s ability to repatriate cash from non-U.S. affiliates without adverse tax consequences; the Company\’s ability to prevent the misuse or theft of information it possesses, including as a result of cyber security breaches and other security threats; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations, such as the adoption of new regulations under the Tax Cuts and Jobs Act, where such actions may affect the Company\’s operations, the cost thereof or applicable tax rates; risks relating to the Company\’s deferred tax assets, including the risk of an \”ownership change\” under the Internal Revenue Code of 1986, as amended; the Company\’s exposure to uninsured claims in excess of historical levels; fluctuations in interest rates and commodity prices; the Company\’s exposure to fluctuations in foreign currency exchange rates and other risks and uncertainties described from time to time in periodic and current reports that the Company files with the SEC.

Additional information concerning these and other factors can be found in the Company\’s filings with the SEC, including the prospectus supplement to be filed with the SEC relating to the rights offering, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and 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.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit 99.1 Press Release of Hertz Global Holdings, Inc. dated June 13, 2019.

Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in a filing.

HERTZ GLOBAL HOLDINGS, INC Exhibit
EX-99.1 2 hertz-rightsofferingxpress.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Hertz Global Holdings Announces Rights Offering for Common StockJune 13,…
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