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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
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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