Hagerty Inc Class A (HGTY) has provided an announcement.
The Hagerty Group updated its financial arrangements by amending its credit facility, notably adding Wells Fargo as a new lender and securing an additional $75 million in revolving credit. While the lenders involved have various ongoing financial dealings with Hagerty, including cash management and banking services, this strategic financial move aims to bolster Hagerty’s capital position and facilitate its growth strategy. Additionally, the company announced the appointment of Mr. Briglia as President of Insurance, effective July 1, 2024.
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