Public Notice of Warrant Exchange on July 5, 2024 in accordance with IRC §6045B
On July 5, 2024, Hagerty, Inc. exchanged 0.2 Hagerty Class A Common Stock for every warrant that was tendered prior to the July, 2, 2024 deadline (the “Warrant Exchange”). The warrant exchange is intended to be treated as a tax-free recapitalization under IRC §368(a)(1)(E) of the Internal Revenue Code. The warrant holders’ aggregate basis in the Class A Common Stock received, including any fractional shares deemed received, is expected to be equal to their aggregate tax basis in the warrants exchanged. Any cash received in lieu of a fractional share of Hagerty Class A Common Stock pursuant to the Warrant Exchange and then as having sold the fractional share of Hagerty Class A Common Stock resulting in the recognition of gain or loss on the sale transaction.
Form 8937 - Original Offer Warrant Exchange Final
Public Notice of Warrant Exchange on July 25, 2024 in accordance with IRC §6045B
On July 25, 2024, Hagerty, Inc. exchanged 0.18 Hagerty Class A Common Stock for Hagerty outstanding warrants. The warrant exchange is intended to be treated as a tax-free recapitalization under IRC §368(a)(1)(E) of the Internal Revenue Code. The warrant holders’ aggregate basis in the Class A Common Stock received, including any fractional shares deemed received, is expected to be equal to their aggregate tax basis in the warrants exchanged. Any cash received in lieu of a fractional share of Hagerty Class A Common Stock pursuant to the Warrant Exchange and then as having sold the fractional share of Hagerty Class A Common Stock resulting in the recognition of gain or loss on the sale transaction.
Form 8937 - Post Offer Warrant Exchange Final