secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2022-08-17T23:59:59+00:00
Accession:  0001840776-22-000118
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty closes acquisition of remaining 60.26% of Broad Arrow Group, making it wholly owned
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- Closed on August 16, 2022; Broad Arrow becomes wholly-owned subsidiary of Hagerty's OpCo.
- Prior 39.74% stake was purchased for $15.25M in January 2022; now 100% owned.
- Parties plan to build Hagerty Marketplace digital platform for collector vehicle transactions.
- Contributors received equity interests in OpCo and Hagerty in exchange for Broad Arrow shares.
- Deal originally disclosed via Contribution Agreement dated August 9, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000118/0001840776-22-000118-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000118/hgty-20220816.htm
  HTML page:      https://secwatch.observer/filing/0001840776-22-000118

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