Hagerty announces secondary offering of 8.7M shares by major stockholders

Hagerty, Inc.

Selling stockholders (Hagerty Holding Corp and Aldel LLC) offer 8.7M shares of HGTY Class A common stock; underwriters have 30-day option for 1.305M additional shares.
Hagerty receives no proceeds from the secondary offering; selling stockholders bear underwriting discount.
HHC intends to use net proceeds to effect a redemption for benefit of estate of Kim Hagerty.
Keefe Bruyette & Woods and J.P. Morgan are joint lead bookrunners; BMO, Citizens, Wells Fargo are additional bookrunners.

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