secwatch.observer — SEC 8-K summary
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Issuer:     iLearningEngines, Inc. (—)
CIK:        0001835972
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0001140361-23-010328
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.03, 5.07, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arrowroot SPAC extends deadline to July 2023; $247M redeemed, sponsor loans up to $1.76M
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- Stockholders approved extension of business combination deadline from March 4, 2023 to July 6, 2023, with up to seven monthly extensions to Feb 4, 2024.
- Holders of 24,304,187 Class A shares redeemed at ~$10.17/share, totaling ~$247.3 million.
- Sponsor issued unsecured promissory note for up to $1,760,000 to fund trust account for extensions; note bears no interest, matures upon business combination.
- Charter amendment filed March 1, 2023 to effect extension.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1835972/000114036123010328/0001140361-23-010328-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1835972/000114036123010328/brhc10049384_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-010328

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer