Dollar Thrifty Automotive Sells 5.75 Million Common Shares
November 4, 2009 (FinancialWire) — Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) has completed a public offering of 5.75 million shares of its common stock at $19.25 per share. Goldman, Sachs & Co. (NYSE: GS) and J.P. Morgan Securities (NYSE: JPM) acted as joint bookrunning managers.
The company has granted the underwriters a 30-day option to purchase up to an additional 862,500 shares of common stock.
Dollar Thrifty saw net proceeds of around $105 million, which it plans to use for general corporate purposes.
Tulsa, Oklahoma-based Dollar Thrifty Automotive’s brands include Dollar Rent A Car and Thrifty Car Rental. The company operates in over 70 countries, and has more than 600 corporate and franchised locations in the United States and Canada.
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