Hertz Jumps 177%

On Friday, stock for Hertz soared 177%.
According to regulatory filings Hertz has lined up potential debtor-in-possession financing of $1.65 billion.
Hertz entered a commitment letter for the $1.65 billion deal.
The deal is not official until it is approved by the bankruptcy court.
On or around October 29th the bankruptcy court will hold a hearing to review the potential financing.
Up to $1 billion of the financing could be used for new interim fleet financing.