Hagerty, Inc. (NYSE: HGTY) priced an upsized secondary offering of 9,250,000 shares of Class A common stock at $11.95 per share, the company announced.
The offering was sold by selling stockholder Hagerty Holding Corp., based in Traverse City, Mich. The company itself will not receive any proceeds from the transaction. Underwriting discounts and commissions are being borne by the selling stockholder.
Underwriters received a 30-day option to purchase up to an additional 1,387,500 shares. Wells Fargo Securities and J.P. Morgan are serving as lead bookrunning managers, with BMO Capital Markets, Citizens Capital Markets, Keefe, Bruyette & Woods (a Stifel company), and Oppenheimer & Co. acting as additional bookrunning managers.
Hagerty Holding Corp. stated that net proceeds from the sale will be used to effect a redemption of a corresponding number of its shares for the benefit of the Kim Hagerty Revocable Trust.
The offering is expected to close on or about September 11, 2026, subject to customary closing conditions.
Hagerty provides vehicle insurance products and services for driving enthusiasts, protecting approximately 3.0 million vehicles across the United States, Canada, and the UK.
