Avis Budget Group, Inc. entered into an Equity Distribution Agreement on March 27, 2026, allowing the company to sell up to 5,000,000 shares of its common stock through at-the-market offerings, with net proceeds intended for general corporate purposes.
Key takeaways
The company entered into an Equity Distribution Agreement on March 27, 2026.
The agreement allows for the sale of up to 5,000,000 shares of common stock.
Sales may be made through at-the-market offerings as defined in Rule 415 under the Securities Act.
The sales agents include BofA Securities, Inc., BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SG Americas Securities, LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC.
The company will pay sales agents a commission not to exceed 2.00% of the gross sales price per share.
Net proceeds from any sales are expected to be used for general corporate purposes.