Aldel Financial Inc.
Completed 2021-12-02- CIK 1840776
- ADF
- Now HGTY
- IPO 2021-04-12
- $116M trust
- 907 filings
Successfully merged with The Hagerty Group, LLC • Now trading as HGTY
- IPO Size
- $115M
- raised at the IPO
- Trust
- $116M
- as of 2021-09-30
- Current Status
- Completed
- from its latest filing
- IPO Year
- 2021
- year it listed
Filings, by quarter
907 filings over 24 quarters; violet bars carry a milestone
- 21 Q1: 20 filings
- 21 Q2: 18 filings
- 21 Q3: 12 filings
- 21 Q4: 40 filings
- 22 Q1: 9 filings
- 22 Q2: 28 filings
- 22 Q3: 11 filings
- 22 Q4: 15 filings
- 23 Q1: 21 filings
- 23 Q2: 44 filings
- 23 Q3: 12 filings
- 23 Q4: 8 filings
- 24 Q1: 19 filings
- 24 Q2: 95 filings
- 24 Q3: 113 filings
- 24 Q4: 103 filings
- 25 Q1: 85 filings
- 25 Q2: 87 filings
- 25 Q3: 66 filings
- 25 Q4: 35 filings
- 26 Q1: 16 filings
- 26 Q2: 29 filings
- 26 Q3: 18 filings
- 26 Q4: 3 filings
- S-1 filed 21 Q1
- IPO 21 Q2
- Definitive agreement 21 Q3
- Completed 21 Q4
SPAC Overview
Where it stands on the road from S-1 to merger
Timeline Progress
About
Aldel Financial Inc. is a blank-check company seeking an initial business combination. Its intended search concentrates on companies exiting restructuring or businesses with transient current ownership, with an emphasis on businesses that can benefit from strategic guidance and public-market access.
Investment Focus
Distressed/Opportunistic
Key Information
As the filings state it
- IPO Date
- 2021-04-12
- Total Redemptions
- $30.4M
- PIPE
- $704M
- Jurisdiction of Incorporation
- Delaware
- SIC
- 6770
- Completion Date
- 2021-12-02
- Merger Target
- The Hagerty Group, LLC
- SPAC Ticker
- ADF
- Merged Ticker
- HGTY
Stock Performance
HGTYTrading symbol, and its price at each step since the first trade
| Point | Date | Price | Move |
|---|---|---|---|
| First Trade | 2021-06-01 | $9.95 | |
| At Merger | 2021-12-03 | $15.62 | +57% |
| 6 Months Post-Merger | 2022-06-06 | $10.33 | -34% |
| 1 Year Post-Merger | 2022-12-05 | $9.03 | -42% |
| 2 Years Post-Merger | 2023-12-04 | $8.55 | -45% |
| Current Price | 2026-10-16 | $15.30 | +54% |
SPAC Team
The banks on its IPO, and the team as the filings describe it
Underwriters
Extended Team Information
Led by Robert I. Kauffman, the management team has finance, investment and merchant banking backgrounds and experience in restructuring, M&A, debt financing, IPOs and other capital-markets transactions. The team has experience at major financial institutions and has completed restructuring, going-public, M&A and financing transactions.