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[8-K] Bain Capital Specialty Finance, Inc. Reports Material Event

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Rhea-AI Filing Summary

Hagerty, Inc. (HGTY) filed a Form 144 indicating that Robert I. Kauffman, through Aldel LLC, plans to sell 31,869 common shares (≈ $324.7 k) on or around 22 Jul 2025 via Merrill Lynch on the NYSE. The shares represent roughly 0.04 % of the company’s 90.7 m shares outstanding.

The seller originally acquired 3.5 m shares on 2 Dec 2021 as part of the PIPE financing that accompanied Hagerty’s SPAC business combination. Over the past three months, the same account has already disposed of about 704,944 shares for an aggregate ≈ $7.0 m in gross proceeds, demonstrating an ongoing divestiture trend.

No new operational or financial results are included; the filing is solely a notice of intended insider sales. Continued sizable insider selling—over 0.8 % of shares outstanding in the last quarter—may raise sentiment and liquidity questions for investors.

Hagerty, Inc. (HGTY) ha depositato un Modulo 144 indicando che Robert I. Kauffman, tramite Aldel LLC, prevede di vendere 31.869 azioni ordinarie (circa 324,7 mila dollari) intorno al 22 luglio 2025 tramite Merrill Lynch alla NYSE. Le azioni rappresentano circa lo 0,04% delle 90,7 milioni di azioni in circolazione della società.

Il venditore ha originariamente acquisito 3,5 milioni di azioni il 2 dicembre 2021 nell’ambito del finanziamento PIPE collegato alla combinazione aziendale SPAC di Hagerty. Negli ultimi tre mesi, lo stesso conto ha già ceduto circa 704.944 azioni per un ricavo lordo complessivo di circa 7,0 milioni di dollari, evidenziando una tendenza continua alla dismissione.

Non sono inclusi nuovi risultati operativi o finanziari; la comunicazione è unicamente un avviso di vendite interne previste. La continua vendita significativa da parte degli insider — oltre lo 0,8% delle azioni in circolazione nell’ultimo trimestre — potrebbe sollevare dubbi sul sentiment e sulla liquidità per gli investitori.

Hagerty, Inc. (HGTY) presentó un Formulario 144 indicando que Robert I. Kauffman, a través de Aldel LLC, planea vender 31,869 acciones comunes (aproximadamente $324.7 mil) alrededor del 22 de julio de 2025 mediante Merrill Lynch en la NYSE. Las acciones representan aproximadamente el 0.04% de las 90.7 millones de acciones en circulación de la compañía.

El vendedor adquirió originalmente 3.5 millones de acciones el 2 de diciembre de 2021 como parte de la financiación PIPE que acompañó la combinación empresarial SPAC de Hagerty. En los últimos tres meses, la misma cuenta ya ha vendido alrededor de 704,944 acciones por un total bruto de aproximadamente $7.0 millones, mostrando una tendencia continua de desinversión.

No se incluyen nuevos resultados operativos o financieros; la presentación es únicamente un aviso de ventas internas previstas. La continua venta significativa por parte de los insiders — más del 0.8% de las acciones en circulación en el último trimestre — podría generar dudas sobre el sentimiento y la liquidez para los inversores.

Hagerty, Inc. (HGTY)는 Form 144를 제출하여 Robert I. Kauffman이 Aldel LLC를 통해 31,869주 보통주(약 324,700달러)를 2025년 7월 22일경 Merrill Lynch를 통해 NYSE에서 매도할 계획임을 알렸습니다. 이 주식은 회사의 총 9,070만 주 중 약 0.04%에 해당합니다.

판매자는 원래 2021년 12월 2일 Hagerty의 SPAC 사업 결합과 함께 진행된 PIPE 자금 조달의 일환으로 350만 주를 취득했습니다. 지난 3개월 동안 동일 계좌는 이미 약 704,944주를 매도하여 총 약 700만 달러의 총 수익을 올렸으며, 이는 지속적인 매도 추세를 보여줍니다.

새로운 운영 또는 재무 결과는 포함되어 있지 않으며, 이번 제출은 내부자 매도 예정 통지에 불과합니다. 지난 분기 동안 총 발행 주식의 0.8% 이상에 달하는 지속적인 내부자 매도는 투자자들에게 심리 및 유동성에 대한 우려를 불러일으킬 수 있습니다.

Hagerty, Inc. (HGTY) a déposé un Formulaire 144 indiquant que Robert I. Kauffman, via Aldel LLC, prévoit de vendre 31 869 actions ordinaires (environ 324,7 k$) aux alentours du 22 juillet 2025 via Merrill Lynch à la NYSE. Ces actions représentent environ 0,04 % des 90,7 millions d’actions en circulation de la société.

Le vendeur a initialement acquis 3,5 millions d’actions le 2 décembre 2021 dans le cadre du financement PIPE accompagnant la fusion SPAC de Hagerty. Au cours des trois derniers mois, ce même compte a déjà cédé environ 704 944 actions pour un produit brut d’environ 7,0 millions de dollars, montrant une tendance continue à la cession.

Aucun nouveau résultat opérationnel ou financier n’est inclus ; le dépôt est uniquement un avis de ventes prévues d’initiés. La poursuite de ventes significatives d’initiés — plus de 0,8 % des actions en circulation au dernier trimestre — pourrait soulever des questions de sentiment et de liquidité auprès des investisseurs.

Hagerty, Inc. (HGTY) hat ein Formular 144 eingereicht, in dem Robert I. Kauffman über Aldel LLC plant, am oder um den 22. Juli 2025 etwa 31.869 Stammaktien (ca. 324,7 Tsd. USD) über Merrill Lynch an der NYSE zu verkaufen. Die Aktien entsprechen etwa 0,04% der 90,7 Mio. ausstehenden Aktien des Unternehmens.

Der Verkäufer erwarb ursprünglich am 2. Dezember 2021 im Rahmen der PIPE-Finanzierung, die mit der SPAC-Unternehmenszusammenführung von Hagerty einherging, 3,5 Mio. Aktien. In den letzten drei Monaten hat dasselbe Konto bereits etwa 704.944 Aktien veräußert und dabei einen Bruttoerlös von ca. 7,0 Mio. USD erzielt, was einen anhaltenden Verkaufstrend zeigt.

Es sind keine neuen operativen oder finanziellen Ergebnisse enthalten; die Meldung dient ausschließlich als Hinweis auf geplante Insider-Verkäufe. Anhaltend umfangreiche Insider-Verkäufe — über 0,8% der ausstehenden Aktien im letzten Quartal — könnten bei Investoren Fragen hinsichtlich Stimmung und Liquidität aufwerfen.

Positive
  • None.
Negative
  • Consistent insider selling: ~705 k shares (≈0.8 % of O/S) already sold in last 3 months, with another 31.9 k planned, can dampen investor confidence.
  • No offsetting business update: Filing provides no operational metrics or positive catalysts to counter the negative sentiment from insider divestiture.

Insights

TL;DR: Ongoing insider divestiture—~0.8 % of shares sold in 3 months, more planned—skews negative for sentiment.

Insider Robert I. Kauffman has systematically liquidated ~705 k Hagerty shares since April, raising ≈ $7 m. The new Form 144 adds another 31.9 k shares. While the stake is small versus the total float, cumulative sales can pressure share supply and signal limited near-term confidence in upside. No offsetting positive disclosures accompany the filing. I view the news as modestly negative for near-term price action and investor perception.

TL;DR: Continuous insider selling reduces conviction; impact limited by small relative size.

From a portfolio-allocation view, the planned sale equates to just 0.04 % of shares outstanding, so mechanical market impact should be minimal. However, the broader pattern—~705 k shares already sold—may influence sentiment and could cap rallies. Absent contradictory fundamental catalysts, I categorize the filing as a sentiment head-wind rather than a thesis-changing event.

Hagerty, Inc. (HGTY) ha depositato un Modulo 144 indicando che Robert I. Kauffman, tramite Aldel LLC, prevede di vendere 31.869 azioni ordinarie (circa 324,7 mila dollari) intorno al 22 luglio 2025 tramite Merrill Lynch alla NYSE. Le azioni rappresentano circa lo 0,04% delle 90,7 milioni di azioni in circolazione della società.

Il venditore ha originariamente acquisito 3,5 milioni di azioni il 2 dicembre 2021 nell’ambito del finanziamento PIPE collegato alla combinazione aziendale SPAC di Hagerty. Negli ultimi tre mesi, lo stesso conto ha già ceduto circa 704.944 azioni per un ricavo lordo complessivo di circa 7,0 milioni di dollari, evidenziando una tendenza continua alla dismissione.

Non sono inclusi nuovi risultati operativi o finanziari; la comunicazione è unicamente un avviso di vendite interne previste. La continua vendita significativa da parte degli insider — oltre lo 0,8% delle azioni in circolazione nell’ultimo trimestre — potrebbe sollevare dubbi sul sentiment e sulla liquidità per gli investitori.

Hagerty, Inc. (HGTY) presentó un Formulario 144 indicando que Robert I. Kauffman, a través de Aldel LLC, planea vender 31,869 acciones comunes (aproximadamente $324.7 mil) alrededor del 22 de julio de 2025 mediante Merrill Lynch en la NYSE. Las acciones representan aproximadamente el 0.04% de las 90.7 millones de acciones en circulación de la compañía.

El vendedor adquirió originalmente 3.5 millones de acciones el 2 de diciembre de 2021 como parte de la financiación PIPE que acompañó la combinación empresarial SPAC de Hagerty. En los últimos tres meses, la misma cuenta ya ha vendido alrededor de 704,944 acciones por un total bruto de aproximadamente $7.0 millones, mostrando una tendencia continua de desinversión.

No se incluyen nuevos resultados operativos o financieros; la presentación es únicamente un aviso de ventas internas previstas. La continua venta significativa por parte de los insiders — más del 0.8% de las acciones en circulación en el último trimestre — podría generar dudas sobre el sentimiento y la liquidez para los inversores.

Hagerty, Inc. (HGTY)는 Form 144를 제출하여 Robert I. Kauffman이 Aldel LLC를 통해 31,869주 보통주(약 324,700달러)를 2025년 7월 22일경 Merrill Lynch를 통해 NYSE에서 매도할 계획임을 알렸습니다. 이 주식은 회사의 총 9,070만 주 중 약 0.04%에 해당합니다.

판매자는 원래 2021년 12월 2일 Hagerty의 SPAC 사업 결합과 함께 진행된 PIPE 자금 조달의 일환으로 350만 주를 취득했습니다. 지난 3개월 동안 동일 계좌는 이미 약 704,944주를 매도하여 총 약 700만 달러의 총 수익을 올렸으며, 이는 지속적인 매도 추세를 보여줍니다.

새로운 운영 또는 재무 결과는 포함되어 있지 않으며, 이번 제출은 내부자 매도 예정 통지에 불과합니다. 지난 분기 동안 총 발행 주식의 0.8% 이상에 달하는 지속적인 내부자 매도는 투자자들에게 심리 및 유동성에 대한 우려를 불러일으킬 수 있습니다.

Hagerty, Inc. (HGTY) a déposé un Formulaire 144 indiquant que Robert I. Kauffman, via Aldel LLC, prévoit de vendre 31 869 actions ordinaires (environ 324,7 k$) aux alentours du 22 juillet 2025 via Merrill Lynch à la NYSE. Ces actions représentent environ 0,04 % des 90,7 millions d’actions en circulation de la société.

Le vendeur a initialement acquis 3,5 millions d’actions le 2 décembre 2021 dans le cadre du financement PIPE accompagnant la fusion SPAC de Hagerty. Au cours des trois derniers mois, ce même compte a déjà cédé environ 704 944 actions pour un produit brut d’environ 7,0 millions de dollars, montrant une tendance continue à la cession.

Aucun nouveau résultat opérationnel ou financier n’est inclus ; le dépôt est uniquement un avis de ventes prévues d’initiés. La poursuite de ventes significatives d’initiés — plus de 0,8 % des actions en circulation au dernier trimestre — pourrait soulever des questions de sentiment et de liquidité auprès des investisseurs.

Hagerty, Inc. (HGTY) hat ein Formular 144 eingereicht, in dem Robert I. Kauffman über Aldel LLC plant, am oder um den 22. Juli 2025 etwa 31.869 Stammaktien (ca. 324,7 Tsd. USD) über Merrill Lynch an der NYSE zu verkaufen. Die Aktien entsprechen etwa 0,04% der 90,7 Mio. ausstehenden Aktien des Unternehmens.

Der Verkäufer erwarb ursprünglich am 2. Dezember 2021 im Rahmen der PIPE-Finanzierung, die mit der SPAC-Unternehmenszusammenführung von Hagerty einherging, 3,5 Mio. Aktien. In den letzten drei Monaten hat dasselbe Konto bereits etwa 704.944 Aktien veräußert und dabei einen Bruttoerlös von ca. 7,0 Mio. USD erzielt, was einen anhaltenden Verkaufstrend zeigt.

Es sind keine neuen operativen oder finanziellen Ergebnisse enthalten; die Meldung dient ausschließlich als Hinweis auf geplante Insider-Verkäufe. Anhaltend umfangreiche Insider-Verkäufe — über 0,8% der ausstehenden Aktien im letzten Quartal — könnten bei Investoren Fragen hinsichtlich Stimmung und Liquidität aufwerfen.

false 0001655050 0001655050 2025-07-22 2025-07-22
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 22, 2025

 

 

BAIN CAPITAL SPECIALTY FINANCE, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   814-01175   81-2878769

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

200 Clarendon Street

37th Floor

 
Boston, Massachusetts   02116
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (617) 516-2000

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, par value $0.001 per share   BCSF   New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 


Item 2.02.

Results of Operations and Financial Condition.

On July 22, 2025, Bain Capital Specialty Finance, Inc. issued a press release announcing that it will (i) release its financial results for the quarter ended June 30, 2025 on Tuesday, August 5, 2025 after the close of the financial market and (ii) host a call on Wednesday, August 6, 2025 at 8:30 a.m. Eastern Time to discuss the financial results. A copy of the press release is attached hereto as Exhibit 99.1.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such Section. The information in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.

 

99.1    Bain Capital Specialty Finance, Inc. Financial Results Press Release, dated July 22, 2025
104    Cover page interactive data file (formatted as Inline XBRL)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Bain Capital Specialty Finance, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  BAIN CAPITAL SPECIALTY FINANCE, INC.
Date: July 22, 2025   By:  

/s/ Adriana Rojas Garzón

    Name:   Adriana Rojas Garzón
    Title:   Vice President

FAQ

Why did Hagerty (HGTY) file a Form 144?

To notify the SEC of Robert I. Kauffman’s intent to sell 31,869 common shares around 22 Jul 2025.

How many Hagerty shares has the insider recently sold?

Over the past three months, the filer disposed of approximately 704,944 shares for roughly $7.0 million in proceeds.

What percentage of Hagerty’s outstanding shares does the new sale represent?

The planned 31,869-share sale equals about 0.04 % of the 90.7 million shares outstanding.

When were the shares originally acquired?

The insider acquired 3.5 million shares on 2 Dec 2021 through PIPE financing tied to Hagerty’s SPAC merger.

Does the filing include any financial performance data?

No. Form 144 is a trading notice and contains no revenue, earnings, or guidance information.
Bain Capital Specialty Finance Inc

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