The selling shareholder, not the company, receives the proceeds
Hagerty announced on November 10 that its secondary offering had been increased to 10 million Class A shares at a public offering price of $14.85 each. The shares are being offered by Hagerty Holding Corp, or HHC.
Hagerty explicitly says it will receive none of the sale proceeds. HHC will bear the underwriting discounts and commissions. This announcement therefore does not describe the company raising that sale amount for its own operations.
Closing and the additional-share option
The offering is expected to close on or about November 12, 2026, subject to customary closing conditions. Pricing does not establish that closing has already occurred.
HHC also granted the underwriters a 30-day option to buy up to 1.5 million additional shares. The option is not confirmation that those extra shares have been sold.
What the quoted price means
The $14.85 figure is the stated public offering price, rather than a verified current exchange quote or a forecast. The offering is made through a prospectus supplement and accompanying base prospectus; the public announcement is not an allocation guarantee.
