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Hertz Global (NYSE:HTZ) stock fell 9.5%, to $1.81, and was halted earlier today ahead of the announcement.
Hertz, which filed for bankruptcy on May 22, terminated a plan to sell up to $500 million in shares after the Securities and Exchange Commission said it had issues over the proposed sale.
The company previously asked the bankruptcy court to allow it to sell up to $1 billion in shares in a move meant to take advantage of the recent interest in its shares. Shares of Hertz had rebounded sharply after hitting lows of 40 cents intraday on May 26.
