$HTZGQ - Plan has been voted on and approved by the court! $8 value.
"As reflected on the summary chart, 97.82% of the 25,637,697.32 shares of Existing Hertz Parent Interests that voted on the Plan **voted to ACCEPT the Plan**."
Section E Page 13. Waiting on one thing. The effective date.
Could be as early as tomorrow. Once that is ordered all trading stops!
Although, there is one interesting paragraph that may tell the date:
"125. The Debtors completed their Liquidation Analysis attached as Exhibit F to the Disclosure Statement after extensive due diligence and the development of reasonable assumptions about the circumstances that would attend a hypothetical chapter 7 liquidation of the Debtors commenced as of **July 1, 2021, the date that is one day after the anticipated Effective Date of the Plan.**"
The plan, as submitted and approved, estimates the payout to be around $8 per share. This is 20+% higher than the current trading price. The plan also states that the owners of the shares up to the final trading day are the holders of all rights to the share.
"By nurturing the competition for plan sponsor in a manner consistent with their fiduciary duties, the Debtors were also able to significantly increase distributions to their stakeholders, resulting in a 100% return to general unsecured creditors and r**eturns to existing shareholders through a combination of cash, equity and warrants, with an estimated value of $7 to $8 per share.**"