Auto Insurance Startup Root Readies $568M IPO

Law360 (October 20, 2020, 4:48 PM EDT) -- Mobile app-based auto insurance company Root launched a $568 million initial public offering on Tuesday guided by Cooley LLP and underwriters' counsel Goodwin Procter LLP, in a float that comes alongside a $500 million private placement.

The auto insurance startup said in a filing with the U.S. Securities and Exchange Commission that it plans to offer 24.2 million shares — with the company selling 22 million shares and an existing stockholder selling 2.2 million — for between $22 and $25 apiece. At the midpoint, the IPO would raise $568 million.

Root Inc., the parent company of Root Insurance Co., said in...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!