Cooley-Led Auto Insurer Leads 5 IPOs Raising Nearly $1.2B

Law360 (October 28, 2020, 7:04 PM EDT) -- The Cooley-led parent company of a mobile phone-based auto insurance company headed a pack of five companies whose shares began trading on the stock market Wednesday, raising nearly $1.2 billion through initial public offerings steered by eight firms.

Columbus, Ohio-based Root Inc. led the group by raising more than $724 million, and another company serving the insurance industry scored the second largest amount with a $176 million offering. The other companies to debut Wednesday hailed from the precious metal mining, life sciences and technology industries. The offerings are all set to close Oct. 30.

Cooley LLP is advising two issuers including...

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