Brief: Root Inc Not Materially Impacted By Silicon Valley Bank Closure

Root

11/03/2023 14:43

March 11 (Reuters) - Root Inc  ROOT.O :
    * ROOT, INC. NOT MATERIALLY IMPACTED BY SILICON VALLEY BANK
CLOSURE
    * CURRENTLY MAINTAINS APPROXIMATELY $1.3 MILLION ON DEPOSIT
WITH
SILICON VALLEY BANK
    * CONSIDERS ITS OWN BANKING EXPOSURE TO ANY LIQUIDITY
CONCERN AT
SVB AS IMMATERIAL TO COMPANY'S CASH POSITION
    * CO PLANS TO TRANSFER ITS FUNDS FROM SVB AT EARLIEST
OPPORTUNITY

Source text for Eikon:  ID:nGNXYmLrM 
Further company coverage:  ROOT.O 

 ((Reuters.Briefs@thomsonreuters.com;))