Corporate ActionNov 10, 2026, 04:26 PM
Hagerty Announces Secondary Offering of 9M Shares by Holding Corp.
AI Summary
Hagerty, Inc. announced that Hagerty Holding Corp. intends to conduct a secondary public offering of 9,000,000 shares of Class A Common Stock, with an option for underwriters to purchase an additional 1,350,000 shares. The company itself will not receive any proceeds from this offering. The Selling Stockholder will use the net proceeds to redeem its shares for the benefit of the Kim Hagerty Revocable Trust. J.P. Morgan and Wells Fargo Securities are serving as the underwriters.
Key Highlights
- Hagerty Holding Corp. intends to offer 9,000,000 shares of Class A Common Stock in a secondary public offering.
- The Selling Stockholder also intends to grant underwriters an option to purchase up to an additional 1,350,000 shares.
- Hagerty, Inc. will not receive any proceeds from the sale of shares by the Selling Stockholder.
- Proceeds from the sale will be used by the Selling Stockholder to redeem HHC shares for the benefit of the Kim Hagerty Revocable Trust.
- J.P. Morgan and Wells Fargo Securities are acting as representatives of the underwriters.
Price Impact
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