Sec Form 13G Filing - Redpoint Omega II L.P. filing for Root Inc. (ROOT) - 2021-02-16

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.     ) *

Root, Inc.

Class A Common Stock

77664L 10 8

(Date of Event Which Requires Filing of This Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o                                    Rule 13d-1(b)

o                                    Rule 13d-1(c)

x                                  Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 77664L 10 8

(1)         This statement on Schedule 13G is filed by Redpoint Omega II, L.P. (“RO II”), Redpoint Omega Associates II, LLC (“ROA II”) and Redpoint Omega II, LLC (“RO II LLC,” together with RO II and ROA II, the “Reporting Persons”).  The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2)         Consists of (i) 14,685,053 shares of Class B Common Stock held by RO II, which may be converted into Class A Common Stock at a 1:1 ratio at the option of the Reporting Persons, and (ii) 454,165 shares of Class B Common Stock held by ROA II, which may be converted into Class A Common Stock at a 1:1 ratio at the option of the Reporting Persons.  RO II LLC serves as the sole general partner of RO II and the managers of RO II LLC commonly control ROA II.  As such, RO II LLC possesses power to direct the voting and disposition of the shares owned by RO II and ROA II and may be deemed to have indirect beneficial ownership of the shares held by RO II and ROA II.  RO II LLC owns no securities of the Issuer directly.  The information with respect to the ownership of ordinary shares by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2020.

(3)         The Common Stock beneficial ownership percentage is based on a total of 250,798,526 shares of Common Stock (59,443,588 shares of Class A Common Stock and 191,354,938 shares of Class B Common Stock) outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020.

(4)         The Class A Common Stock beneficial ownership percentage is based on 59,443,588 shares of the Issuer’s Class A Common Stock outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020, plus the number of shares of the Issuer’s Class B Common Stock beneficially owned by the Reporting Person, which are treated as converted into Class A Common Stock only for the purpose of computing the Class A Common Stock beneficial ownership percentage of the Reporting Person.

(5)         The shares held by the Reporting Persons represent 7.7% of the combined voting power of the Issuer’s Common Stock.

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CUSIP No. 77664L 10 8

(1)         This statement on Schedule 13G is filed by the Reporting Persons.  The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2)         Consists of (i) 14,685,053 shares of Class B Common Stock held by RO II, which may be converted into Class A Common Stock at a 1:1 ratio at the option of the Reporting Persons, and (ii) 454,165 shares of Class B Common Stock held by ROA II, which may be converted into Class A Common Stock at a 1:1 ratio at the option of the Reporting Persons.  RO II LLC serves as the sole general partner of RO II and the managers of RO II LLC commonly control ROA II.  As such, RO II LLC possesses power to direct the voting and disposition of the shares owned by RO II and ROA II and may be deemed to have indirect beneficial ownership of the shares held by RO II and ROA II.  RO II LLC owns no securities of the Issuer directly.  The information with respect to the ownership of ordinary shares by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2020.

(3)         The Common Stock beneficial ownership percentage is based on a total of 250,798,526 shares of Common Stock (59,443,588 shares of Class A Common Stock and 191,354,938 shares of Class B Common Stock) outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020.

(4)         The Class A Common Stock beneficial ownership percentage is based on 59,443,588 shares of the Issuer’s Class A Common Stock outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020, plus the number of shares of the Issuer’s Class B Common Stock beneficially owned by the Reporting Person, which are treated as converted into Class A Common Stock only for the purpose of computing the Class A Common Stock beneficial ownership percentage of the Reporting Person.

(5)         The shares held by the Reporting Persons represent 7.7% of the combined voting power of the Issuer’s Common Stock.

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CUSIP No. 77664L 10 8

(1)         This statement on Schedule 13G is filed by the Reporting Persons.  The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2)         Consists of (i) 14,685,053 shares of Class B Common Stock held by RO II, which may be converted into Class A Common Stock at a 1:1 ratio at the option of the Reporting Persons, and (ii) 454,165 shares of Class B Common Stock held by ROA II, which may be converted into Class A Common Stock at a 1:1 ratio at the option of the Reporting Persons.  RO II LLC serves as the sole general partner of RO II and the managers of RO II LLC commonly control ROA II.  As such, RO II LLC possesses power to direct the voting and disposition of the shares owned by RO II and ROA II and may be deemed to have indirect beneficial ownership of the shares held by RO II and ROA II.  RO II LLC owns no securities of the Issuer directly.  The information with respect to the ownership of ordinary shares by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2020.

(3)         The Common Stock beneficial ownership percentage is based on a total of 250,798,526 shares of Common Stock (59,443,588 shares of Class A Common Stock and 191,354,938 shares of Class B Common Stock) outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020.

(4)         The Class A Common Stock beneficial ownership percentage is based on 59,443,588 shares of the Issuer’s Class A Common Stock outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020, plus the number of shares of the Issuer’s Class B Common Stock beneficially owned by the Reporting Person, which are treated as converted into Class A Common Stock only for the purpose of computing the Class A Common Stock beneficial ownership percentage of the Reporting Person.

(5)         The shares held by the Reporting Persons represent 7.7% of the combined voting power of the Issuer’s Common Stock.

4

CUSIP No. 77664L 10 8

Introductory Note:  This statement on Schedule 13G is being filed by the Reporting Persons in respect of common stock of Root, Inc. (the “Issuer”).

Item 1(a).            Name of Issuer:

Root, Inc.

Item 1(b).            Address of Issuer’s Principal Executive Officers:

80 E Rich Street, Suite 500
Columbus, Ohio 43215

Item 2(a).            Name of Person(s) Filing:

Redpoint Omega II, L.P. (“RO II”)

Redpoint Omega Associates II, LLC (“ROA II”)

Redpoint Omega II, LLC (“RO II LLC”)

Item 2(b).            Address of Principal Business Office:

Redpoint Ventures

2969 Woodside Road

Woodside, California  94062

Item 2(c).             Citizenship:

RO II is a Delaware limited partnership

ROA II is a Delaware limited liability company

RO II LLC is a Delaware limited liability company

Item 2(d).            Title of Class of S ecurities:

Class A Common Stock

Item 2(e).             CUSIP Number:

77664L 10 8

Item 3.                           If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

Not applicable.

Item 4(a).                  Amount Beneficially Owned:

Item 4(b).                  Percent of Class:

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CUSIP No. 77664L 10 8

Item 4(c).                   Number of shares as to which such persons have:

The following information with respect to the ownership of Class A Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2020:

(1)   Represents the number of shares beneficially owned by the Reporting Persons as of December 31, 2020.

(2)   RO II LLC serves as the sole general partner of RO II and the managers of RO II LLC commonly control ROA II.  As such, RO II LLC possesses power to direct the voting and disposition of the shares owned by RO II and ROA II and may be deemed to have indirect beneficial ownership of the shares held by RO II and ROA II.  RO II LLC owns no securities of the Issuer directly.

(3)   The Common Stock beneficial ownership percentage is based on a total of 250,798,526 shares of Common Stock (59,443,588 shares of Class A Common Stock and 191,354,938 shares of Class B Common Stock) outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020.

(4)   The Class A Common Stock beneficial ownership percentage is based on 59,443,588 shares of the Issuer’s Class A Common Stock outstanding as of November 24, 2020, as reported on the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on December 2, 2020, plus the number of shares of the Issuer’s Class B Common Stock beneficially owned by the Reporting Person, which are treated as converted into Class A Common Stock only for the purpose of computing the Class A Common Stock beneficial ownership percentage of the Reporting Person.

(5)   The shares held by the Reporting Persons represent 7.7% of the combined voting power of the Issuer’s Common Stock.

Item 5.                                 Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof, the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following:  ¨

Item 6.                                 Ownership of More Than Five Percent on Behalf of Another Person:

Not applicable.

Item 7.                                 Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company:

Not applicable.

Item 8.                                 Identification and Classification of Members of the Group:

Not applicable.

Item 9.                                 Notice of Dissolution of Group:

Not applicable.

Item 10.                          Certification:

Not applicable.

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CUSIP No. 77664L 10 8

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 16, 2021

Exhibit(s):            99.1: Joint Filing Statement

7

Exhibit 99.1

AGREEMENT

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of common stock of Root, Inc.

Dated: February 16, 2021