Hertz wins court approval to offer potentially worthless stock
The car-rental giant is seeking to take advantage of the recent improbable rally in its shares to help resolve the massive debts that forced it into bankruptcy. The unsecured creditors committee backed the unusual move, which the company said could raise as much as $1 billion.
source https://www.autonews.com/used-cars/hertz-wins-court-approval-offer-potentially-worthless-stock