Financing ·
Hagerty Holding Corp. to sell up to 10.35M shares of Class A common stock in secondary offering
HGTYHagerty, Inc.
Hagerty Holding Corp., the selling stockholder, intends to offer 9,000,000 shares of Hagerty’s Class A Common Stock in an underwritten secondary public offering, with a 30-day option for underwriters to purchase up to an additional 1,350,000 shares. J.P. Morgan and Wells Fargo Securities are acting as lead bookrunning managers. Hagerty will not receive any proceeds from the sale; the selling stockholder intends to use net proceeds to redeem HHC shares for the benefit of the Kim Hagerty Revocable Trust. Hagerty operates in the automotive enthusiast industry, providing vehicle insurance, auctions, media, and membership services.