Silver Lake Invests in Root
11.02.20
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The Firm represented Silver Lake in connection with its investment in Root, Inc., which closed concurrently with the closing of the initial public offering of Root. Silver Lake purchased in a private placement $250 million of shares of Class A common stock at a price per share equal to $27, the initial public offering price.
Root, Inc. is the parent company of Root Insurance, the nation’s first licensed insurance carrier powered entirely by mobile.
The Simpson Thacher team included Kenneth Wallach, Hui Lin, Christine Turner and Lauren Maxfield (Capital Markets); Russell Light and Nicole Humphrey (Tax); Corina McIntyre (Intellectual Property); Steve DeLott (Insurance); and Vanessa Burrows (Healthcare).