Root’s debt rises and market cap shrinks in turbulent week
Investors have reacted to Root laying off 20 percent of its workforce by sending the share price down 18 percent in trading on Friday, capping a week for the auto insurtech that included it revealing a new $300mn BlackRock term loan facility with a 9 percent coupon.
If you are a subscriber, please sign back in to read this article
If you are not currently a subscriber please see contact details below