Hertz 2009 Annual Report Download - page 71

PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
MARKET PRICE OF COMMON STOCK
Our common stock began trading on the NYSE on November 16, 2006. On February 23, 2010, there
were 1,549 registered holders of our common stock. The following table sets forth, for the periods
indicated, the high and low sales price per share of our common stock as reported by the NYSE:
2008 High Low
1st Quarter ......................................... 15.85 9.90
2nd Quarter ........................................ 14.70 9.53
3rd Quarter ........................................ 10.57 5.52
4th Quarter ......................................... 7.84 1.55
2009
1st Quarter ......................................... 6.27 1.97
2nd Quarter ........................................ 9.55 3.61
3rd Quarter ........................................ 11.99 7.72
4th Quarter ......................................... 12.55 8.82
PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS
None.
CURRENT DIVIDEND POLICY
We paid no cash dividends on our common stock in 2008 or 2009, and we do not expect to pay
dividends on our common stock for the foreseeable future. The agreements governing our indebtedness
restrict our ability to pay dividends. See ‘‘Item 7—Management’s Discussion and Analysis of Financial
Condition and Results of Operations—Liquidity and Capital Resources—Financing.’’
USE OF PROCEEDS FROM SALE OF REGISTERED SECURITIES
In May and June 2009, we completed a follow-on public offering of 52,900,000 shares of our common
stock at a price of $6.50 per share with proceeds before underwriting discounts and offering expenses of
approximately $343.9 million, or the ‘‘Common Stock Public Offering.’’ In addition, in July 2009 we
completed a private offering to investment funds affiliated with CD&R and Carlyle of an additional
32,101,182 shares of our common stock at a price of $6.23 per share (the same price per share paid to
us by the underwriters in the Common Stock Public Offering) with proceeds to us of approximately
$200.0 million, or the ‘‘Private Offering.’’ Giving effect to the Common Stock Public Offering and the
Private Offering, the Sponsors’ ownership percentage in us is approximately 51%.
In May and June 2009, we also completed a public offering of an aggregate principal amount of
$474,755,000 of 5.25% convertible senior notes due 2014, or the ‘‘Convertible Debt Public Offering.’’
We used the net proceeds from the Common Stock Public Offering, the Private Offering and the
Convertible Debt Public Offering, collectively the ‘‘2009 Hertz Holdings Offerings,’’ to increase our
liquidity and for general corporate purposes.
RECENT SALES OF UNREGISTERED SECURITIES
None.
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