Hagerty to acquire remaining 60% of Broad Arrow Group for $64.8M in all-stock deal

Hagerty, Inc.

Hagerty to acquire remaining 60.26% stake in Broad Arrow Group for ~$64.8 million in all-stock transaction expected to close by Aug 16, 2022.
Earlier in Jan 2022, Hagerty acquired 39.74% of Broad Arrow for $15.25M; transaction makes Broad Arrow wholly-owned subsidiary.
Kenneth Ahn will continue as President of Hagerty Marketplace; Broad Arrow founders and team join Hagerty.
Deal valued using $2.8013 per Broad Arrow share divided by 20-day VWAP of Hagerty stock; registration rights granted.

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