other material
confidence high
sentiment neutral
materiality 0.40
Hagerty prices upsized secondary offering at $11.95/share; 10,637,500 shares sold
Hagerty, Inc.
- Secondary offering of 9,250,000 shares upsized; underwriters' 30-day option exercised in full for 1,387,500 more shares.
- Seller Hagerty Holding Corp. receives all proceeds; company gets none. Proceeds fund redemption for Kim Hagerty Revocable Trust.
- Offering closed September 11, 2026; Wells Fargo and J.P. Morgan lead bookrunners.
- Public price $11.95 per share; seller bears underwriting discounts and commissions.
- Additional bookrunners: BMO Capital Markets, Citizens, Keefe Bruyette & Woods, Oppenheimer & Co.