As filed with the Securities and Exchange Commission on October 27, 2020
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ROOT, INC.
(Exact name of Registrant as specified in its charter)
| | | | | | | | |
| Delaware | 6331 | 84-2717903 |
(State or other jurisdiction of
incorporation or organization) | (Primary Standard Industrial
Classification Code Number) | (I.R.S. Employer Identification Number) |
80 E. Rich Street, Suite 500
Columbus, Ohio 43215
(866) 980-9431
(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)
Alexander Timm
Chief Executive Officer
Root, Inc.
80 E. Rich Street, Suite 500
Columbus, Ohio 43215
(866) 980-9431
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
| | | | | | | | |
David Peinsipp
Nicole Brookshire
Peter N. Mandel
Cooley LLP
101 California Street, 5th Floor
San Francisco, California 94111
(415) 693-2000 | Jonathan A. Allison
General Counsel & Secretary
80 E. Rich Street, Suite 500
Columbus, Ohio 43215
(614) 591-4570 | Richard A. Kline
Sarah B. Axtell
Goodwin Procter LLP
601 Marshall Street
Redwood City, California 94063
(650) 752-3100 |
Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☐
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☒ (333-249332)
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
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| Large accelerated filer ☐ | Accelerated filer ☐ |
| Non-accelerated filer ☒ | Smaller reporting company ☐ |
| Emerging growth company ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION OF REGISTRATION FEE
| | | | | | | | | | | | | | |
| Title of Each Class of Securities to be Registered | Amount to Be Registered(1) | Proposed Maximum Aggregate Offering Price Per Share | Proposed Maximum Aggregate Offering Price (2) | Amount of Registration Fee(3) |
Class A Common Stock, $0.0001 par value per share (2)(3) | 2,586,729 | $27.00 | $69,841,683 | $7,620 |
(1) Represents only the additional number of shares being registered and includes an additional 337,399 shares of common stock issuable upon exercise of the underwriters’ option to purchase additional shares. Does not include the securities that the Registrant previously registered on the Registration Statement on Form S-1 (File No. 333-249332).
(2) The registration fee is calculated in accordance with Rule 457(a) under the Securities Act of 1933, as amended, based on the proposed maximum aggregate offering price.
(3) The registrant previously registered 28,268,742 shares of its common stock with an aggregate offering price not to exceed $706,718,550 on a Registration Statement on Form S-1 (File No. 333-249332), which was declared effective by the Securities and Exchange Commission on October 27, 2020. In accordance with Rule 462(b) under the Securities Act, an additional amount of securities having a proposed maximum aggregate offering price of $69,841,683 are hereby registered, which includes shares issuable upon the exercise of the underwriters’ option to purchase additional shares.
This Registration Statement shall become effective upon filing in accordance with Rule 462(b) promulgated under the Securities Act of 1933, as amended.
EXPLANATORY NOTE AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
This Registration Statement on Form S-1 (this “Registration Statement”) is being filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, for the sole purpose of increasing the aggregate number of shares of common stock offered by Root, Inc. (the “Registrant”) by 2,586,729 shares, 337,399 of which are subject to purchase upon exercise of the underwriters’ option to purchase additional shares of the Registrant’s common stock. The additional securities that are being registered for sale are in an amount and at a price that together represent no more than 20% of the maximum aggregate offering price set forth in the Calculation of Registration Fee table contained in the Registration Statement on Form S-1, as amended (File No. 333-249332) (the “Prior Registration Statement”). The information set forth in the Prior Registration Statement and all exhibits thereto are hereby incorporated by reference in this filing.
The required opinion and consents are listed on an Exhibit Index attached hereto and filed herewith.
EXHIBIT INDEX
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Exhibit
Number | | Description |
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| 5.1 | | |
| | |
| 23.1 | | |
| | |
| 23.2 | | |
| | |
| 24.1 | | |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Columbus, State of Ohio, on October 27, 2020.
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| ROOT, INC. | |
| |
| |
| By: | /s/ Alexander Timm |
| Alexander Timm |
| Chief Executive Officer |
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
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| Signature | | Title | | Date |
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| /s/ Alexander Timm | | Chief Executive Officer and Director (Principal Executive Officer) | | October 27, 2020 |
| Alexander Timm | | | | |
| | | | |
| * | | Chief Financial Officer and Director (Principal Financial Officer) | | October 27, 2020 |
| Daniel Rosenthal | | | | |
| | | | |
| * | | Chief Accounting Officer (Principal Accounting Officer) | | October 27, 2020 |
| Megan Binkley | | | | |
| | | | |
| * | | Director | | October 27, 2020 |
| Christopher Olsen | | | | |
| | | | |
| * | | Director | | October 27, 2020 |
| Doug Ulman | | | | |
| | | | |
| * | | Director | | October 27, 2020 |
| Elliot Geidt | | | | |
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| * | | Director | | October 27, 2020 |
| Jerri DeVard | | | | |
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| * | | Director | | October 27, 2020 |
| Larry Hilsheimer | | | | |
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| * | | Director | | October 27, 2020 |
| Luis von Ahn | | | | |
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| * | | Director | | October 27, 2020 |
| Nancy Kramer | | | | |
| | | | |
| * | | Director | | October 27, 2020 |
| Nick Shalek | | | | |
| | | | |
| * | | Director | | October 27, 2020 |
| Scott Maw | | | | |
*Pursuant to Power of Attorney
| | | | | |
| By: | /s/ Alexander Timm |
| Alexander Timm |
| Attorney-in-Fact |
