Root, Inc. Files Registration Statement for Proposed Initial Public Offering
Root, Inc., the parent company of Root Insurance Company, today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Root intends to list its common stock on the Nasdaq Stock Market, under the ticker symbol ROOT.
Goldman Sachs & Co. LLC, Morgan Stanley, Barclays, and Wells Fargo Securities will act as lead bookrunners for the proposed offering. Credit Suisse, Deutsche Bank Securities, Evercore ISI, and Truist Securities will act as additional book runners, and Cantor Fitzgerald & Co., JMP Securities, and Siebert Williams Shank will act as co-managers of the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by emailing [email protected] or telephone at 1-888-603-5847; or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, telephone: (800) 326-5897 or by emailing [email protected].
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Root, Inc.
Root, Inc. is the parent company of Root Insurance Company. We are a technology company revolutionizing personal insurance with a pricing model based upon fairness. Our modern, mobile-first customer experience is designed to make insurance simple.
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