Beware as Wall Street Goes Direct to Consumer

An unconventional Wall Street financing tool is increasing in popularity. Investors should make sure they aren’t on the wrong side of the cash machine. Hertz Global Holdings, which has filed for chapter 11 bankruptcy protection, on Monday said it planned to sell as much as $500 million in stock through an at-the-market financing, before suspending the offering on Wednesday pending a review by securities regulators. In this type of deal, a company can instruct its banker to sell stock on a rolling basis at prevailing market…

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