$HGTY

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Hagerty Prices Upsized Secondary Offering by Selling Shareholder; Shares Down Pre-Bell

Hagerty (HGTY) said Wednesday it has priced an upsized secondary offering by a selling shareholder of about 9.3 million class A common shares at $11.95 per share.The selling stockholder also granted the underwriters a 30-day option to purchase up to about 1.4 million additional shares.The company said it will not receive any proceeds from the offering, which is set to close around Friday.Shares of Hagerty were down over 6% in recent premarket activity Thursday.Price: $12.34, Change: $-0.92, Percent Change: -6.94%

$HGTY

Wire69d ago

Hagerty to Acquire Bennetts for $45.5 Million

Hagerty (HGTY) signed a definitive deal to acquire specialty motorcycle insurance broker Bennetts from Lucida Group for 34 million British pounds ($45.5 million), the car insurance provider said Thursday.The acquisition will expand Hagerty's international footprint and is estimated to be immediately accretive, eventually tripling Hagerty's UK revenue to about 25 million pounds, the company said.Closing is expected in Q3, subject to regulatory approval, Hagerty added.Price: $12.06, Change: $+0.14, Percent Change: +1.17%

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