secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001840776-23-000173
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty amends credit agreement to increase financial flexibility; leverage limit set at 3.75x from June 2024
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- Tenth Amendment adds baskets for investments, debt, and liens subject to pro forma leverage ≤ 3.25x.
- Maximum permitted leverage ratio under financial covenant set to 3.75x for periods on or after June 2024.
- Additional debt capacity via incremental pari-passu debt or asset-backed securitization.
- Amendment effective November 28, 2023, provides increased operational flexibility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077623000173/0001840776-23-000173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077623000173/hgty-20231128.htm
  HTML page:      https://secwatch.observer/filing/0001840776-23-000173

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