Hagerty holder sells 10.6M shares at $11.95
A major stockholder in Hagerty completed a fully upsized secondary sale of 10.6 million Class A shares at $11.95, with no proceeds going to the company.
Rhea-AI Filing Summary
Hagerty, Inc. (HGTY) reported that selling stockholder Hagerty Holding Corp. completed a secondary public offering of 10,637,500 shares of Hagerty’s Class A common stock at a public offering price of $11.95 per share. The deal was made under an existing effective shelf registration statement.
The selling stockholder initially agreed to sell 9,250,000 shares and granted underwriters Wells Fargo Securities and J.P. Morgan Securities a 30-day option for up to 1,387,500 additional shares, which was exercised in full. The transaction closed on September 11, 2026. Hagerty will not receive any proceeds; net proceeds to Hagerty Holding Corp. are intended to fund a redemption of a corresponding number of its shares for the benefit of the Kim Hagerty Revocable Trust, with the selling stockholder bearing underwriting discounts and commissions.
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8-K Event Classification
3 items: 1.01, 8.01, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Base shares offered: 9,250,000 shares
Underwriters’ option shares: 1,387,500 shares
Total shares sold: 10,637,500 shares
+4 more
7 metrics
Base shares offered
9,250,000 shares
Shares of Class A common stock offered by Hagerty Holding Corp.
Underwriters’ option shares
1,387,500 shares
Additional Class A shares subject to 30-day option, exercised in full
Total shares sold
10,637,500 shares
Aggregate Class A shares sold in the secondary offering
Public offering price
$11.95 per share
Price to the public for each Class A common share
Registration statement number
333-261810
Effective registration statement used for the offering
Pricing date
September 9, 2026
Date the secondary offering was priced
Closing date
September 11, 2026
Date the secondary offering closed
Key Terms
secondary offering, Underwriting Agreement, public offering price, prospectus supplement, +1 more
5 terms
secondary offering financial
"Hagerty Announces Pricing of its Upsized Secondary Offering of Class A Common Stock"
A secondary offering is when a company sells new shares of its stock to the public after its initial sale. This allows existing shareholders or the company itself to raise additional money. For investors, it can impact the stock’s price by increasing the total number of shares available, which may influence the stock’s value and how the market perceives the company’s financial health.
Underwriting Agreement financial
"entered into an underwriting agreement with Wells Fargo Securities, LLC"
An underwriting agreement is a contract where a company selling new stocks or bonds hires financial firms to buy those securities and resell them to investors. It matters because the agreement sets the offering price, number of securities, fees and which party bears the risk if sales fall short—think of it as a promise that the sale will happen and a roadmap investors can use to understand how the new securities reach the market.
public offering price financial
"at a public offering price of $11.95 per Share"
The public offering price is the amount of money a company charges investors to buy its shares during a new stock sale to the public. It determines how much the company raises and how much each share is worth at the start of trading. For investors, it helps gauge the initial value of the stock and whether it might be a good investment opportunity.
prospectus supplement regulatory
"The offering is being made only by means of a prospectus supplement"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
forward-looking statements regulatory
"This press release contains statements that constitute “forward-looking statements”"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Hagerty, Inc. (HGTY) announce in this 8-K?
Hagerty disclosed that selling stockholder Hagerty Holding Corp. completed a secondary public offering of 10,637,500 Class A shares at $11.95 per share, including full exercise of the underwriters’ option, with the offering closing on September 11, 2026.
Does Hagerty, Inc. (HGTY) receive any proceeds from this offering?
No. Hagerty will not receive any of the proceeds from the sale of Class A common stock. All proceeds go to the selling stockholder, which also bears the underwriting discounts and commissions related to the sale.
Who is the selling stockholder in Hagerty’s (HGTY) secondary offering and how will proceeds be used?
The selling stockholder is Hagerty Holding Corp.. It has advised that net proceeds from the offering will be used to effect a redemption of a corresponding number of its shares for the benefit of the Kim Hagerty Revocable Trust.
Who led the underwriting for the Hagerty (HGTY) secondary offering?
The offering was underwritten by a syndicate led by Wells Fargo Securities and J.P. Morgan Securities as representatives and lead bookrunning managers. Additional bookrunning managers included BMO Capital Markets, Citizens Capital Markets, Keefe, Bruyette & Woods, and Oppenheimer & Co.
When did the Hagerty (HGTY) secondary offering close?
The secondary offering of Hagerty’s Class A common stock closed on September 11, 2026, following pricing on September 9, 2026 and the full exercise of the underwriters’ option to purchase additional shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
