Hagerty Holding Corp to sell 9M Class A shares in secondary offering; Hagerty gets no proceeds

Hagerty, Inc.

Selling Stockholder Hagerty Holding Corp intends to offer 9,000,000 shares of Hagerty Class A Common Stock (NYSE: HGTY) in an underwritten secondary public offering.
Underwriters granted a 30-day option to buy up to an additional 1,350,000 shares; J.P. Morgan and Wells Fargo Securities are lead bookrunning managers.
Hagerty will not receive any proceeds; HHC will bear the underwriting discount and Hagerty the remaining expenses.
HHC said net proceeds will fund redemption, for the benefit of the Kim Hagerty Revocable Trust, of a corresponding number of its HHC shares.

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