RE: Hertz Fills the “Intial Bankruptcy Offering”15 Jun 2020 20:19
From the SEC document [you could not make it up]:
Additional Risks Related to This Offering
We may not be able to maintain a listing of our common stock on the NYSE, which could have a material adverse effect on the liquidity of our common stock.
We are in the process of Chapter 11 reorganization cases under the Bankruptcy Code, which may cause our common stock to decrease in value, or may render our common stock worthless.
As a result of the Chapter 11 Cases, we are subject to the risks and uncertainties associated with Chapter 11 Cases, and operating under Chapter 11 may restrict our ability to pursue strategic and operational initiatives.
Prosecution of the Chapter 11 Cases has consumed and will continue to consume a substantial portion of the time and attention of our management, which may have an adverse effect on our business and results of operations, and we may face increased levels of employee attrition.
If we are unable to negotiate and confirm a Chapter 11 plan of reorganization, we could be required to liquidate under chapter 7 (“Chapter 7”) of the Bankruptcy Code in which case our common stock would be worthless.
Our post-bankruptcy capital structure is yet to be determined, and any changes to our capital structure may have a material adverse effect on existing debt and security holders, including holders of our common stock.
Any Chapter 11 plan that we may implement will likely be based in large part upon assumptions and analyses developed by us. If these assumptions and analyses prove to be incorrect, or adverse market conditions persist or worsen, our plan may be unsuccessful in its execution.
We may be subject to claims that will not be discharged in the Chapter 11 cases, which could have a material adverse effect on our financial condition and results of operations.
Operating in bankruptcy for a long period of time may harm our business.
There is no certainty as to amount of vehicle lease payments we will be required to make during the pendency of the bankruptcy case.
The price of our common stock has and may continue to fluctuate significantly, which could negatively affect us and holders of our common stock.
The Bankruptcy Court has entered an order imposing certain trading restrictions with respect to our common stock.
Due to a recent transaction or due to this stock issuance, our ability to use certain of our tax assets has been (or will be) limited.
etc, etc, etc
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