Hagerty went public via a SPAC merger with Aldel Financial in a $3.13bn deal.

Hagerty, a specialty insurance services provider, went public via a SPAC merger with Aldel Financial, a special purposes acquisition company, in a $3.13bn deal. PIPE investors include insurance services providers State Farm and Markel. "Being listed on the NYSE marks the start of an exciting new chapter in Hagerty's history. We are confident that we have sufficient capital to advance our strategy, which remains focused on investing in the company's digital user experience to support and accelerate growth in our membership base, while expanding our portfolio of engaging and exciting car-focused events and services. We believe this strategy will create rewarding new experiences for car lovers and sustainable value for our shareholders over the long term," McKeel Hagerty, Hagerty CEO.