iLearningEngines, Inc. and Arrowroot Acquisition Corp. Announce Special Meeting to Approve Business Combination

Technology and private equity companies, iLearningEngines, Inc. and Arrowroot Acquisition Corp., have recently announced the effectiveness of their registration statement and a special meeting to approve their proposed business combination. The special purpose acquisition company, Arrowroot Acquisition Corp., sponsored by Arrowroot Capital Management, specializes in enterprise software, while iLearningEngines is a leader in AI-powered learning automation and information intelligence.

The registration statement on Form S-4, filed by Arrowroot with the U.S. Securities and Exchange Commission (SEC), has been declared effective. This marks a significant step in the process of the proposed business combination between Arrowroot and iLearningEngines. The definitive proxy statement/prospectus, included in the registration statement, has been mailed to shareholders of Arrowroot, with the special meeting scheduled for February 12, 2024.

The special meeting will be held virtually, through a live video webcast, accessible via the [https://www.virtualshareholdermeeting.com/ARRW2024SM](https://www.virtualshareholdermeeting.com/ARRW2024SM) link. Shareholders of Arrowroot, as of the record date of January 18, 2024, are entitled to notice and voting rights at the special meeting. The meeting will serve as a platform to discuss and vote on the business combination and resolutions related to it.

Assuming all closing conditions are satisfied and the business combination is approved by Arrowroot stockholders, the combined company will operate as iLearningEngines, Inc. and plans to be listed on the Nasdaq Global Market under the ticker symbols "AILE" for common stock and "AILEW" for warrants. However, the Nasdaq listing is subject to the fulfillment of all Nasdaq listing requirements.

iLearningEngines, founded by Harish Chidambaran in 2010, is a leading cloud-based, AI-driven training platform for enterprises. The company's AI and Learning Automation platform enables enterprises to scale outcome-based training and distribute knowledge throughout their organizations. With a strong presence in regulated sectors such as healthcare, education, insurance, retail, and more, iLearningEngines has established itself as one of the fastest-growing companies in North America.

Arrowroot Acquisition Corp. is a special purpose acquisition company formed to facilitate mergers, acquisitions, and similar transactions with businesses. Sponsored by Arrowroot Capital Management, a prominent investor in enterprise software, Arrowroot aims to bring together businesses that complement its expertise and investment focus.

The full details of the business combination can be found in the registration statement on Form S-4 filed with the SEC, which includes a prospectus and proxy statement. Shareholders and interested parties are strongly encouraged to review these documents for comprehensive information regarding the business combination, Arrowroot, and iLearningEngines. Copies of the registration statement and other related documents can be obtained without charge from Arrowroot Acquisition Corp.

It is important to note that the investment in any securities described in this communication has not been approved or disapproved by the SEC or any other regulatory authority. Additionally, forward-looking statements have been provided in this press release. These statements are subject to various risks and uncertainties and are based on assumptions and expectations at the time of writing. Actual events and circumstances may differ from these statements due to factors beyond the control of iLearningEngines and Arrowroot. Both companies have disclaimed any obligation to update the forward-looking statements in the future.

In conclusion, iLearningEngines and Arrowroot Acquisition Corp. are moving forward with their proposed business combination, with the effectiveness of the registration statement and the announcement of the special meeting. As shareholders prepare for the meeting, they are encouraged to review the relevant documents and stay informed about the progress of the business combination. If approved, the combined company is expected to operate as iLearningEngines, Inc. and be listed on the Nasdaq Global Market.