secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2022-08-10T23:59:59+00:00
Accession:  0001840776-22-000106
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000106/0001840776-22-000106-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000106/hgty-20220809.htm
  HTML page:      https://secwatch.observer/filing/0001840776-22-000106

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer