Root cancels Carvana warrants, issues new warrant for up to 1,525,560 shares
Root, Inc. entered into agreements with Carvana on August 31, 2026, cancelling Carvana's long-term warrants issued October 1, 2021, and issuing a new warrant for up to 1,525,560 Class A shares, exercisable only if conditions tied to insurance sales through the Integrated Platform are met. The filing also amends the commercial agreement, investment agreement and registration rights agreement between the companies, including changes to term, non-renewal notice and exclusivity.
Key points
- Carvana surrendered and Root cancelled all outstanding long-term warrants issued October 1, 2021
- New warrant covers up to 1,525,560 Class A common shares, split into five tranches of 305,112 shares each
- Each tranche is subject to conditions, including milestones tied to insurance sales through the Integrated Platform
- Second Amendment to the Commercial Agreement changes term, non-renewal notice and exclusivity terms
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 01, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.