---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-048633"
form_type: "8-K"
ticker: null
cik: "0001835972"
company_name: "iLearningEngines, Inc."
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T02:18:02.269274+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Arrowroot Acquisition issues $2M promissory note to sponsor, draws $700K at 15% interest

## Summary
- Unsecured promissory note for up to $2M issued to sponsor Arrowroot Acquisition LLC; initial drawdown of $700K.
- Note bears 15% simple annual interest; matures upon initial business combination or winding up.
- Repayment limited to funds outside the trust account; note forfeited if no business combination occurs.
- Drawdowns require sponsor approval; minimum $10K per request unless agreed otherwise.

## SEC filing metadata
- accession: 0001213900-23-048633
- form_type: 8-K
- cik: 0001835972
- company_name: iLearningEngines, Inc.
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1835972/000121390023048633/0001213900-23-048633-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1835972/000121390023048633/ea179998-8k_arrowroot.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-048633
- JSON: https://secwatch.observer/filing/0001213900-23-048633.json
- Plain text: https://secwatch.observer/filing/0001213900-23-048633.txt

## Key facts
- Debt Financings
  iLearningEngines, Inc. incurred loan of $2,000,000 with Arrowroot Acquisition LLC at 15% per annum maturing upon closing of the Company’s initial business combination or the date that the winding up of the Company is effective.
  - Instrument: loan
  - Principal: $2,000,000
  - Counterparty: Arrowroot Acquisition LLC
  - Rate: 15% per annum
  - Maturity: upon closing of the Company’s initial business combination or the date that the winding up of the Company is effective
  - Event: incurrence
  source text: On June 13, 2023, Arrowroot Acquisition Corp., a Delaware corporation and blank check company (the “Company”), issued an unsecured promissory note (the “Note”) in the principal amount of $2,000,000 to Arrowroot Acquisition LLC (the “Sponsor”), of which $700,000 was funded by the Sponsor upon execution of the Note. The Note bears interest at 15% per annum and matures upon closing of the Company’s initial business combination or the date that the winding up of the Company is effective (such date, the “Maturity Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835972/000121390023048633/0001213900-23-048633-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.