Hagerty slips 12% after pricing an upsized secondary offering at $14.85 per share
קריאה של פחות מדקה
נקודות מפתח:
- Hagerty priced its upsized secondary offering of 10M shares of Class A common stock at $14.85 per share, with the shares being sold by existing shareholder Hagerty Holding Corp.
- The offering is expected to generate approximately $148.5M in gross proceeds for HHC, excluding underwriting discounts and commissions.
- The selling stockholder has also granted underwriters a 30-day option to purchase up to an additional 1.5M shares at the offering price.
- Hagerty will not receive any proceeds from the offering, as the transaction involves the sale of existing shares rather than newly issued stock. While HHC plans to use the net proceeds to redeem a corresponding number of its own shares for the benefit of the Kim Hagerty Revocable Trust.
- The offering is expected to close on or about November 12, 2026.
- The stock price fell about 11% on Tuesday after market hours.
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