---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-289291"
form_type: "8-K"
ticker: "ROOT"
cik: "0001788882"
company_name: "Root, Inc."
filed_at: "2021-10-01T23:59:59+00:00"
generated_at: "2026-06-29T00:03:25.860060+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Root closes $126M Carvana investment, issues convertible preferred and warrants

## Summary
- Received approx. $126M from Carvana for 14M Series A Convertible Preferred shares at $9.00/sh.
- Issued eight tranches of warrants exercisable for up to 129M shares (29.9% fully diluted).
- Five-year commercial agreement to develop integrated insurance platform; Root exclusive for auto insurance on Carvana platform.
- Carvana gets right to appoint Ernest Garcia III to Root's board of directors.

## SEC filing metadata
- accession: 0001193125-21-289291
- form_type: 8-K
- ticker: ROOT
- cik: 0001788882
- company_name: Root, Inc.
- filed_at: 2021-10-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1788882/000119312521289291/0001193125-21-289291-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1788882/000119312521289291/d236036d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-289291
- JSON: https://secwatch.observer/filing/0001193125-21-289291.json
- Plain text: https://secwatch.observer/filing/0001193125-21-289291.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.