HTZ News

In 2021, 27 IPOs raised $1 billion or more, the biggest-ever crop of billion-dollar IPOs in a single year. While the largest issuers have historically outperformed the broader group average, that is not the case for 2021 IPOs. Of last year's 27 billion-dollar deals, just three are trading above issue (11%), and the group averages a -40% return, below the total 2021 average of -33%...read more

During November, 34 IPOs raised $17.6 billion, the IPO market's biggest November since 1999. Blank check companies continued to gain momentum, as 60 SPACs raised $11.1 billion. The most active sector was technology, which accounted for 11 of the month's IPOs and included a mix of consumer engagement software, cloud storage, and crypto mining. Familiar consumer brands like Hertz,...read more

It was another busy week for the IPO market as 15 new issuers went public, with Rivian (RIVN) in the spotlight. The pre-revenue electric truck developer became the largest IPO of 2021, raising nearly $12 billion in the largest IPO since Alibaba (NYSE: BABA) in 2014, and popped 29% in its public debut. Rivian Automotive (RIVN) upsized and priced...read more

Hertz Global Holdings, which provides vehicle rental services, raised $1.3 billion by offering 44.5 million shares (100% secondary), at $29, the high end of the range of $25 to $29. The selling shareholders sold 7.4 million more shares than anticipated, and the company expects to repurchase $300 million worth of shares in the offering from the underwriters. Hertz has been listed...read more