Root cancels 2021 Carvana warrants, issues tranche-based new warrant
Root canceled all outstanding 2021 warrants and issued a new common stock purchase warrant for up to 1,525,560 shares across five milestone-based tranches. The parties amended their commercial agreement as part of the exchange.
Root overhauled its strategic relationship with Carvana by canceling all outstanding 2021 warrants and issuing a new Common Stock Purchase Warrant for up to 1,525,560 shares across five milestone-based tranches.
Alongside the warrant exchange, the parties amended their Commercial Agreement to updat…