Hagerty launches warrant exchange: 0.20 shares per warrant, seeks capital simplification

Hagerty, Inc.

Offer to exchange each warrant for 0.20 shares of Class A common stock, up to 3,896,707 shares total.
Consent solicitation seeks to amend warrant agreements to allow forced exchange at 0.18 shares (10% less).
Support agreements: 44.3% of Public Warrants, 57.2% of Private Placement, 81.5% of PIPE Warrants already committed.
Need additional 5.7% of Public Warrants to adopt IPO Warrant Amendment; PIPE amendment already sufficient.
Offer expires July 2, 2024; no recommendation from company, but holders urged to read tender documents.

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