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      "text": "Following the consummation of the Business Combination, Hagerty will incur significant increased expenses and administrative burdens as a public company, which could negatively impact its business, financial condition and results of operations.\nHagerty's failure to timely and effectively implement controls and procedures required by Section 404(a) of the Sarbanes-Oxley Act that will be applicable to the company after the Business Combination is consummated could negatively impact its business.\nHagerty will qualify as an \"emerging growth company\" within the meaning of the Securities Act, and if the company takes advantage of certain exemptions from disclosure requirements available to emerging growth companies, it could make Hagerty's securities less attractive to investors and may make it more difficult to compare Hagerty's performance to the performance of other public companies.\nHagerty's business and operations could be negatively affected if it becomes subject to any securities litigation or shareholder activism, which could cause Hagerty to incur significant expense, hinder execution of business and growth strategy and impact its stock price.\nBecause Hagerty does not anticipate paying any cash dividends in the foreseeable future, capital appreciation, if any, would be your sole source of gain.\nFuture offerings of debt or offerings or issuances of equity securities by Hagerty may adversely affect the market price of Hagerty's Common Stock or otherwise dilute all other stockholders.\nHagerty will qualify as, and intends to elect to be treated as, a \"controlled company\" within the meaning of the NYSE listing standards and, as a result, the company's stockholders may not have certain corporate governance protections that are available to stockholders of companies that are not controlled companies.\nThe dual class structure of Hagerty's common stock may adversely affect the trading market for its Class A common stock following the closing of the transaction.\nThe dual class structure of Hagerty's common stock will have the effect of concentrating voting power with the Hagerty's Equityholders, which will limit your ability to influence the outcome of important transactions, including a change in control.\nPursuant to the Tax Receivable Agreement, Hagerty may be required to pay Hagerty Equityholders for certain tax benefits, which amounts could be substantial.",
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      "text": "Risks Related to an Investment in Hagerty",
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