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BlackRock Financial Management Provides $300MM Term Loan to Root
Friday, January 28, 2022

Lenders/Participants BlackRock Financial Management [Lender]
Structure Term Loan
Amount $300.000 Million
Borrower(s) Root Insurance Company
Description The five-year, $300 million term loan will carry an interest rate of term SOFR + 9%. In conjunction with the term loan, Root issued BlackRock warrants equal to 2% of all issued and outstanding shares on a diluted basis at an exercise price of $9.00 per share which carry an expiration date of the earlier of the maturity of the term loan or the full cash repayment of the term loan.
Industry Insurance
Related Tags BlackRock

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