Root secures $200M term loan, authorizes $75M buyback, and refinances 2022 debt

Filed May 6, 2026 · Period ending May 4, 2026 · ~1 min read

Key Changes

• high

  Root obtained a $200 million senior secured term loan maturing May 2029, with variable interest rates of 3.00%-3.75% over SOFR based on debt-to-capital ratio. The loan is secured by substantially all company assets.

  Item 1.01 verify on EDGAR →
• high

  Board authorized a $75 million share repurchase program, signaling management confidence in valuation and returning capital to shareholders.

  Item 7.01 verify on EDGAR →
• high

  Company must maintain quarterly financial covenants including minimum capital ratios for insurance subsidiaries, maximum debt-to-capital ratio, minimum net worth, and adequate debt service coverage. Covenant breaches could trigger default.

  Item 1.01 verify on EDGAR →