Hagerty Holding Corp. Prices Upsized 9.25M Share Secondary at $11.95
HGTY sits 44% above its 52-week low of $9.36 on elevated volume (28× avg).
Summary
Hagerty Holding Corp. priced an upsized secondary offering of 9.25 million Class A shares at $11.95, raising ~$106 million for the Hagerty family. Hagerty, Inc. receives no proceeds.
Key Events · Financing and Capital Events · HGTY
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Upsized Secondary Offering Priced
Hagerty Holding Corp. is selling 9.25 million Class A shares at $11.95 per share, up from the originally announced 8.25 million shares. Gross proceeds total $110.5 million.
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Proceeds Go to Family, Not Company
Hagerty, Inc. receives no proceeds. Net proceeds of approximately $106.1 million after underwriting discounts go to Hagerty Holding Corp., which will use them to redeem shares held by the Kim Hagerty Revocable Trust.
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Markel Exchange for Regulatory Compliance
Markel is concurrently exchanging 7,269,685 paired interests for Class A shares (or 7,836,411 if the underwriters' option is fully exercised) to maintain regulatory compliance. Markel will not sell any shares in this offering.
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60-Day Lock-Up Agreements
Directors, executive officers, State Farm, Markel, and the selling stockholder have agreed to 60-day lock-up agreements, restricting additional sales of Class A shares.
Analysis · HGTY · Finance
The Hagerty family's holding company is selling 9.25 million Class A shares at $11.95, raising roughly $106 million after underwriting discounts. The offering was upsized from the originally announced 8.25 million shares, and Markel is concurrently exchanging 7.27 million paired interests for Class A shares to maintain regulatory compliance. Hagerty, Inc. receives no proceeds — this is a liquidity event for the founding family, not a capital raise for the company. The 60-day lock-up on directors, officers, and major holders tempers near-term overhang, but the expanded float and family selling pressure are the key considerations for existing shareholders.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30% of the 1963 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.14%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, HGTY was trading at $13.49 on NYSE in the Finance sector, with a market capitalization of approximately $4.6B. The 52-week trading range was $9.36 to $14.00. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.