Hagerty Prices Upsized Secondary Offering of Common Stock

Insurance
Insurance
Public Offering
Public Offering
Merger:
Dec 03, 2021
Industry:
INSURANCE AGENTS, BROKERS & SERVICE
Market Cap.:
1.38 bn.

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Hagerty Announces Pricing of Upsized Secondary Offering

TRAVERSE CITY, Michigan, USA Hagerty, Inc. (NYSE: HGTY) announced the pricing of its upsized secondary offering of Class A Common Stock. The selling stockholder, Hagerty Holding Corp. (HHC), offered 9,250,000 shares at a price to the public of $11.95 per share.

In connection with the offering, the selling stockholder granted underwriters a 30-day option to purchase up to an additional 1,387,500 shares. The offering is expected to close on or about September 11, 2026.

Transaction Details

  • Issuer: Hagerty, Inc. (NYSE: HGTY)
  • Selling Stockholder: Hagerty Holding Corp. (HHC)
  • Offering Size: 9,250,000 shares of Class A Common Stock (upsized)
  • Offering Price: $11.95 per share
  • Underwriters Option: Up to 1,387,500 additional shares
  • Expected Close: September 11, 2026

Hagerty will not receive any proceeds from the share sale. Net proceeds will be used by HHC to effect a redemption of a corresponding number of its shares for the benefit of the Kim Hagerty Revocable Trust. Wells Fargo Securities and J.P. Morgan acted as representatives of the underwriters and lead bookrunning managers.

About Hagerty, Inc.

Hagerty is an automotive enthusiast brand committed to saving driving and to fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over 875,000 who can’t get enough of cars. For more information, please visit www.hagerty.com or connect with us on Facebook, Instagram, Twitter and LinkedIn.. More information can be found at newsroom.hagerty.com.

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