Hagerty, Inc. announced the pricing of a secondary offering on September 9, 2026. The offering involves the sale of 9,250,000 shares of Class A common stock by Hagerty Holding Corp., the Selling Stockholder, at a public offering price of $11.95 per share.
The company stated that Hagerty will not receive any proceeds from the sale of these shares. Instead, the Selling Stockholder will bear the underwriting discounts and commissions associated with the transaction.
According to the filing, the net proceeds from the sale of the shares will be used to effect a redemption of a corresponding number of Hagerty Holding Corp. shares for the benefit of the Kim Hagerty Revocable Trust.
The offering was upsized from the originally planned amount, with underwriters granted a 30-day option to purchase an additional 1,387,500 shares. The underwriters exercised this option in full, resulting in the sale of a total of 10,637,500 shares. The closing of the offering occurred on September 11, 2026.
Wells Fargo Securities and J.P. Morgan Securities LLC are serving as representatives of the underwriters and lead bookrunning managers. BMO Capital Markets, Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, and Oppenheimer & Co. are acting as additional bookrunning managers.
