Hertz Shareholders Raise $1.3 Billion in Nasdaq Listing

Shareholders of Hertz Global Holdings Inc. $Hertz Global (HTZ.US)$ a poster-child of the meme-stock frenzy, raised $1.3 billion after pricing an upsized Nasdaq listing.

The Estero, Florida-based car-rental company’s existing backers will sell 44.5 million shares at $29 apiece, according to a statement Monday. They had initially planned to sell 37.1 million shares at $25 to $29 each, an earlier filing with the U.S. Securities and Exchange Commission showed.

A darling of retail investors that are active on trading platforms such as Robinhood Markets Inc. and discussion forums like Reddit Inc., the company’s over-the-counter shares have jumped more than 20% since listing in July.

Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley are advising the listing. Hertz plans for its shares to trade on the Nasdaq Global Select Market under the symbol HTZ.

Article excerpted from Yahoo.