Root closes $300M term loan with BlackRock, issues warrants for 2% of diluted shares

Root, Inc.

Five-year $300M term loan at SOFR + 9%, secured by substantially all assets of Root and subsidiaries.
Warrants issued to BlackRock for 2% of fully diluted shares at $9.00 per share, expiring upon loan maturity or full repayment.
BlackRock receives board observation rights; loan matures January 27, 2027.
Proceeds enhance liquidity and extend debt maturity; CEO cites long-term partnership and strategy execution.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.