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SPAC · Merger completed

Arrowroot Acquisition Corp.

Business combination with iLearningEngines Inc.

Arrowroot Acquisition Corp. is a blank-check company (SPAC) that raised $250M in its initial public offering on Mar 3, 2021, listing on Nasdaq Capital Market. It completed its business combination with iLearningEngines Inc. on Apr 16, 2024; the combined company is iLearningEngines, Inc. (AILE). Arrowroot Capital led the IPO. Cooley advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.

iLearningEngines is an AI-powered learning automation and information company based in Bethesda, Maryland and Marina Del Rey, California. It agreed a business combination with Arrowroot Acquisition Corp. in April 2023.

Status
Merger completed
IPO date
Mar 3, 2021
IPO size
$250M
IPO exchange
Nasdaq Capital Market
Target
iLearningEngines Inc.
Announced
May 2, 2023
Stated deal value
$1.4B
Closed
Apr 16, 2024
Combined company
iLearningEngines, Inc. (AILE)
IPO underwriters
Arrowroot Capital
SPAC counsel (IPO)
Cooley
Underwriters' counsel (IPO)
Ellenoff Grossman & Schole

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