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      6. Hagerty Inc (HGTY)

      7. Hagerty Inc (HGTY) News

      Hagerty Inc

      Hagerty Inc (HGTY)

      NYSE
      11.09
      -0.10
      (-0.89%)
      Closed November 16 4:00PM
      Delayed by 15 minutes
      11.10
      0.01
      (0.09%)
      After Hours: 7:59PM
      Delayed by 15 minutes

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      HGTY News

      Official News Only

      Form 8-K - Current report
      Edgar (US Regulatory)
      September 06 2024
      HGTY (-0.89%)

      Form 10-Q - Quarterly report [Sections 13 or 15(d)]
      Edgar (US Regulatory)
      August 06 2024
      HGTY (-0.89%)

      Form 8-K - Current report
      Edgar (US Regulatory)
      August 06 2024
      HGTY (-0.89%)

      Form 8-K - Current report
      Edgar (US Regulatory)
      July 26 2024
      HGTY (-0.89%)

      HGTY Discussion

      View Posts
      crudeoil24 crudeoil24 3 years ago
      Up 81% @ 19.30
      👍️0
      crudeoil24 crudeoil24 3 years ago
      SPAC closing > Shares of specialist automotive insurer Hagerty Inc. jumped on their market debut after its combination with listed special-purpose acquisition company Aldel Financial Inc. closed.

      In morning trading, the shares were quoted 18% higher at $12.60 on the New York Stock Exchange.

      Hagerty and Aldel announced a tie-up in August that gave the insurance provider a pro forma enterprise value of $3.13 billion and provided cash proceeds to fuel the company's digital-initiatives push. Aldel's shareholders approved the deal at a special meeting Wednesday.

      Hagerty said its merger with Aldel included a $704 million fully committed investment led by strategic investors State Farm and Markel Corp.

      "We are confident we have sufficient capital to advance our strategy," Hagerty Chief Executive McKeel Hagerty said.

      Special-purpose acquisition companies, or SPACs, are shell company that raise money and list publicly with the goal of merging with a private company. SPAC mergers have become popular alternatives to traditional initial public offerings, and have allowed startups with scant track records to list.

      Aldel, led by Chairman and CEO Robert Kauffman and co-sponsored by Fundamental Global, raised $116 million in its April initial public offering.


      Write to Robb M. Stewart at robb.stewart@wsj.com
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