Hagerty Announces Secondary Public Offering Of 9M Shares By Hagerty Holding Corp.

In connection with the offering, the Selling Stockholder also intends to grant the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of Hagerty's Class A Common Stock.

Hagerty will not receive any proceeds from the sale of shares of its Class A Common Stock by the Selling Stockholder. The Selling Stockholder will bear the underwriting discount attributable to its sale of the Class A Common Stock, and Hagerty will bear the remaining expenses. HHC has advised us that the net proceeds from the sale of its shares in this offering will be used to effect a redemption, for the benefit of the Kim Hagerty Revocable Trust, of a corresponding number of its HHC shares. J.P. Morgan and Wells Fargo Securities are acting as representatives of the underwriters and lead bookrunning managers of the offering.