UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
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| ITEM 1.01 | Entry into a Material Definitive Agreement. |
On August 7, 2025, Hagerty, Inc. (the “Company”), The Hagerty Group, LLC, Hagerty Holding Corp. and Aldel LLC (Hagerty Holding Corp. and Aldel LLC together, the “Selling Stockholders”) entered in an underwriting agreement (the “Underwriting Agreement”) with Keefe, Bruyette & Woods, Inc. and J.P. Morgan Securities LLC as representatives of the several underwriters named therein (collectively, the “Underwriters”). Pursuant to the Underwriting Agreement, the Selling Stockholders agreed to sell an aggregate of 9,700,000 shares of the Company’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”), and granted the Underwriters a 30-day option to purchase up to an additional 1,455,000 shares (collectively, the “Shares”) of Class A Common Stock (the “Offering”).
The Offering was made pursuant to an effective registration statement previously filed by the Company with the Securities and Exchange Commission (Registration No. 333-261810), at a public offering price per Share of $9.34. The Offering closed on August 11, 2025.
The Underwriting Agreement contains customary representations, warranties and agreements of the parties, conditions to closing, and indemnification obligations of the parties. The foregoing description of the Underwriting Agreement is qualified in its entirety by the text of the Underwriting Agreement attached as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference.
A copy of the opinion of DLA Piper LLP (US) relating to the validity of the Shares sold in the Offering is filed herewith as Exhibit 5.1.
| ITEM 8.01 | Other Events |
On August 7, 2025, the Company issued a press release announcing the pricing of the Offering. A copy of this press release is attached as Exhibit 99.1 hereto.
| ITEM 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| Exhibit |
Description | |
| 1.1 | Underwriting Agreement, dated as of August 7, 2025, by and among the Company, The Hagerty Group, LLC, Hagerty Holding Corp., Aldel LLC, Keefe, Bruyette & Woods, Inc. and J.P. Morgan Securities LLC as representatives of the several underwriters named therein. | |
| 5.1 | Opinion of DLA Piper LLP (US). | |
| 23.1 | Consent of DLA Piper LLP (US) (included in Exhibit 5.1). | |
| 99.1 | Press release regarding pricing of the Offering. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HAGERTY, INC. | ||||||
| /s/ Diana M. Chafey | ||||||
| Date: August 11, 2025 | Diana M. Chafey | |||||
| Chief Legal Officer and Corporate Secretary | ||||||