secwatch.observer — SEC 8-K summary
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Issuer:     HERC HOLDINGS INC (HRI)
CIK:        0001364479
Form:       8-K
Filed at:   2025-05-12T23:59:59+00:00
Accession:  0001193125-25-117313
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Herc Holdings provides pro forma financing details for $4.8B H&E acquisition
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- Combined company TEV $12+ billion; pro forma revenue ~$5.1B, Adj. EBITDA (synergized) ~$2.3B.
- Financing includes $750M Term Loan B due 2032, $2.75B new unsecured debt, and $919M ABL draw.
- Pro forma net leverage 3.6x (synergized) and Net First Lien leverage 1.6x; target 2.0x-3.0x net leverage.
- Estimated run-rate cost synergies of $125M; combined fleet OEC $10B with over 600 branches.
- LTM Q1 2025 Herc Adj. EBITDA $1.583B; quarterly dividend $0.70/share maintained.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364479/000119312525117313/0001193125-25-117313-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364479/000119312525117313/d37092d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-117313

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer