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SPAC · Merger completed

Aldel Financial Inc.

Business combination with The Hagerty Group, LLC

Aldel Financial Inc. is a blank-check company (SPAC) that raised $100M in its initial public offering on Apr 12, 2021, listing on New York Stock Exchange. It completed its business combination with The Hagerty Group, LLC on Dec 2, 2021; the combined company is Hagerty, Inc. (HGTY). ThinkEquity led the IPO. Loeb & Loeb advised the SPAC and Blank Rome advised the underwriters on the IPO.

The Hagerty Group is a specialty insurance provider focused on the global automotive enthusiast market. It uses a membership model and offers events, media content and valuation tools.

Status
Merger completed
IPO date
Apr 12, 2021
IPO size
$100M
IPO exchange
New York Stock Exchange
Target
The Hagerty Group, LLC
Announced
Aug 18, 2021
Closed
Dec 2, 2021
Combined company
Hagerty, Inc. (HGTY)
IPO underwriters
ThinkEquity
SPAC counsel (IPO)
Loeb & Loeb
Underwriters' counsel (IPO)
Blank Rome

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