Hertz seeks unusual $1bn share sale while in bankruptcy

Hertz, the car rental group facing bankruptcy, is looking to sell up to $1bn in stock to take advantage of frenzied trading in its shares, in an unprecedented move for a company whose solvency is in doubt. The proposed cash infusion, outlined in a filing on Thursday, would help fund the company’s reorganisation process and […]

United’s unusual plan to sell $1 billion of stock

Such a sale is a highly unusual move for an established company that is losing buckets of money and reporting steep declines in its revenue. United last week warned investors it expects to report an adjusted $1 billion pre-tax loss for the first quarter, and that it...