Hagerty (HGTY) said Thursday it has priced an upsized secondary offering of 9.7 million Class A common shares at $9.34 per share.
The underwriters have been granted a 30-day option to purchase up to 1.46 million additional shares.
The shares are being sold by Hagerty Holding and Aldel.
Hagerty will not receive proceeds from the sale. Hagerty Holding said it will use its proceeds to redeem shares for the benefit of the estate of Kim Hagerty.
The transaction is expected to close on Monday.
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