4//SEC Filing
ARROWROOT ACQUISITION LLC 4
Accession 0001415889-24-011194
CIK 0001835972other
Filed
Apr 17, 8:00 PM ET
Accepted
Apr 18, 9:45 PM ET
Size
14.2 KB
Accession
0001415889-24-011194
Insider Transaction Report
Form 4
ARROWROOT ACQUISITION LLC
10% Owner
Transactions
- Conversion
Common Stock
2024-04-16+7,027,500→ 7,027,500 total - Sale
Class B Common Stock
2023-05-08$0.00/sh−40,000$168→ 7,027,500 total→ Common Stock (40,000 underlying) - Conversion
Class B Common Stock
2024-04-16−7,027,500→ 0 total→ Common Stock (7,027,500 underlying) - Disposition to Issuer
Common Stock
2024-04-16−400,000→ 6,627,500 total - Award
Common Stock
2024-04-16$10.00/sh+460,384$4,603,840→ 7,087,884 total
Footnotes (4)
- [F1]On April 16, 2024 pursuant to the Agreement and Plan of Merger and Reorganization, dated as of April 27, 2023 (the "Merger Agreement"), by and among the Issuer, ARAC Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and iLearningEngines Holdings, Inc. ("Legacy iLearningEngines"), Merger Sub merged with and into Legacy iLearningEngines with the separate corporate existence of Merger Sub ceasing and Legacy iLearningEngines continuing as the surviving corporation and a wholly-owned subsidiary of Issuer (the "Merger"). Prior to the effective time of the Merger, pursuant to the Issuer's amended and restated certificate of incorporation, each outstanding share of the Issuer's Class A Common Stock and Class B Common Stock was reclassified as a single share of the Issuer's Common Stock.
- [F2]Matthew Safaii and Thomas Olivier control the Reporting Person, and as such have voting and investment discretion with respect to the securities held by the Reporting Person and may be deemed to have beneficial ownership of the securities held directly by the Reporting Person.
- [F3]Immediately prior to the closing of the Merger, pursuant to a Sponsor Forfeiture Agreement dated March 27, 2024, 400,000 shares of Common Stock were forfeited to the Issuer for no consideration.
- [F4]Shares issued at the effective time of the Merger upon conversion of principal amount of, and accrued interest on, working capital loans provided to the Issuer by the Reporting Person, at the conversion price of $10.00 per share.
Documents
Issuer
iLearningEngines, Inc.
CIK 0001835972
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001847821
Filing Metadata
- Form type
- 4
- Filed
- Apr 17, 8:00 PM ET
- Accepted
- Apr 18, 9:45 PM ET
- Size
- 14.2 KB