Hagerty Raises $105M In Capital From Strategic Investors
Portfolio Pulse from Benzinga Newsdesk
Hagerty raises $105M in capital, including $80M of convertible preferred equity and a $25M commitment of long-term debt financing for Hagerty Reinsurance Limited. The funds will support growth initiatives, expand product offerings, and invest in technology to improve customer interactions.
June 23, 2023 | 8:18 pm
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Hagerty raises $105M in capital to support growth initiatives, expand product offerings, and invest in technology, potentially driving stock price up.
The capital raise will help Hagerty expand its product offerings and invest in technology, which could lead to increased revenues and profitability. This may have a positive impact on the stock price in the short term.
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