Arrowroot Acquisition completed its merger with iLearningEngines, following shareholder approval earlier this month. More than 99% of the shares voted were cast in favor of the deal. The company develops AI-powered learning automation and information intelligence for corporate and educational use.
The deal was announced in April last year at a pro forma implied enterprise value of $1.4 billion, which includes the target’s rollover equity of $1.241 billion.
The agreement included a minimum cash requirement of $100 million. Read more.
