Knighthead Capital Management Amends Hertz Stake Filing
Ticker: HTZWW · Form: SC 13D/A · Filed: Jul 2, 2024 · CIK: 1657853
Sentiment: neutral
Topics: activism, filing-amendment, investment-management
Related Tickers: HTZ
TL;DR
Knighthead Capital still has a big stake in Hertz, filing an update on July 2nd.
AI Summary
Knighthead Capital Management, LLC, through its affiliates CK Amarillo LP and Certares Opportunities LLC, has amended its Schedule 13D filing regarding Hertz Global Holdings, Inc. as of July 2, 2024. The filing indicates a significant stake and ongoing involvement in the company's strategic direction.
Why It Matters
This amendment signals continued active participation by a major investment firm in Hertz's corporate governance and strategic decisions, potentially influencing future company performance and shareholder value.
Risk Assessment
Risk Level: medium — Amendments to 13D filings by significant investors can indicate shifts in strategy or increased activism, which may introduce volatility.
Key Players & Entities
- Knighthead Capital Management, LLC (company) — Filing entity and investment manager
- CK Amarillo LP (company) — Affiliate of Knighthead Capital Management, LLC
- Certares Opportunities LLC (company) — Group member with Knighthead Capital Management, LLC
- Hertz Global Holdings, Inc. (company) — Subject company
- Laura Torrado (person) — Contact person for the filing
FAQ
What is the primary purpose of this SC 13D/A filing?
This filing is an amendment (Amendment No. 7) to a Schedule 13D, indicating changes in the beneficial ownership of Hertz Global Holdings, Inc. by the reporting persons.
Who are the main reporting persons involved in this filing?
The main reporting persons are Knighthead Capital Management, LLC, CK Amarillo GP, LLC, and Certares Opportunities LLC.
What is the CUSIP number for Hertz Global Holdings, Inc. common stock?
The CUSIP number for Hertz Global Holdings, Inc. common stock is 42806J304.
When was the most recent filing date for this amendment?
The filing was made as of date 20240702, with the date of change also being 20240702.
What is the business address of CK Amarillo LP?
The business address of CK Amarillo LP is C/O Knighthead Capital Management, LLC, 280 Park Avenue, 22nd Floor, New York, NY 10017.
Filing Stats: 3,198 words · 13 min read · ~11 pages · Grade level 16.3 · Accepted 2024-07-02 20:50:48
Key Financial Figures
- $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
- $43,504,000 — D for an aggregate commitment amount of $43,504,000 using the working capital of the Invest
- $43.5 million — obligation, to sell the Investors up to $43.5 million aggregate principal amount of its 8.000
- $250 million — nt terminated upon THC selling at least $250 million aggregate principal amount of Exchangea
- $1,000 — "Exchange Rate") is 150.9388 Shares per $1,000 capitalized principal amount of Exchang
- $6.6252 — initial exchange price of approximately $6.6252 per Share). Prior to April 15, 2029, th
Filing Documents
- ef20032037_sc13da.htm (SC 13D/A) — 150KB
- 0001140361-24-032239.txt ( ) — 152KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete, and correct. Dated: July 2, 2024 CK AMARILLO LP By: CK AMARILLO GP, LLC, its general partner. By: /s/ Tom LaMacchia Name: Tom LaMacchia Title: Authorized Signatory By: /s/ Laura Torrado Name: Laura Torrado Title: Authorized Signatory CK AMARILLO GP, LLC By: /s/ Tom LaMacchia Name: Tom LaMacchia Title: Authorized Signatory By: /s/ Laura Torrado Name: Laura Torrado Title: Authorized Signatory CERTARES OPPORTUNITIES LLC By: CERTARES MANAGEMENT LLC, its Sole Member. By: /s/ Tom LaMacchia Name: Tom LaMacchia Title: Managing Director & General Counsel KNIGHTHEAD CAPITAL MANAGEMENT, LLC By: /s/ Laura Torrado Name: Laura Torrado Title: General Counsel [ Signature Page to Schedule 13D ]