Business
Root, Inc. Schedules Conference Call to Discuss Fourth Quarter and Full Year 2021 Financial Results; Update on BlackRock Debt Financing
COLUMBUS, Ohio, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, today announced its plans to host a
About this update from Root, Inc.
[{"type":"text","content":"COLUMBUS, Ohio, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, today announced its plans to host a conference call to discuss financial results for the fourth quarter and full year of 2021 on February 24. The Company plans to release fourth quarter and full year 2021 results in the investor relations section of its website at ir.joinroot.com after the close of the financial markets on February 23. Webcast and Conference Call Details Date: February 24, 2022 Time: 8:00 a.m. Eastern Time Dial-in: (833) 665-0682 (US and Canada) (929) 517-0176 (International) Conference ID: 6198344 Webcast: https://ir.joinroot.com/news-events/events A replay of the webcast will be made available for on-demand viewing after the call on the Investor Relations page of the Company’s website at ir.joinroot.com. Debt UpdateRoot has agreed in principle to terms of a new term loan facility with BlackRock Financial Management, Inc., on behalf of funds and accounts under its management, and its affiliates (collectively, “BlackRock”), pending final approval by all parties and execution of definitive documents. The planned five-year $300 million term loan facility would carry an interest rate of term SOFR + 9%. The parties anticipate closing and funding the facility on or before January 31, 2022. About Root Inc.Root, Inc. is the parent company of Root Insurance Company. Root is a technology company revolutionizing personal insurance with a pricing model based upon fairness and a modern customer experience. Root’s mobile-first customer experience is designed to make insurance simple. Contacts Media:[email protected] Investor Relations:Christine PatrickVP, Investor [email protected] Source: ROOT, INC. Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws regarding Root, Inc. These forward-looking statements relate to, among other things, expectations about a new term loan facility, which is subject to negotiation and documentation of final terms and the terms and conditions contained in the definitive documentation. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict, inc...