BETHESDA, Md., Aug. 12, 2024 (GLOBE NEWSWIRE) -- iLearningEngines, Inc. (NASDAQ: AILE) ("iLearningEngines" or "ILE"), a leader in AI-powered learning and work automation for enterprises, today announced that on August 9, 2024 the SEC declared effective ILE's registration statement on Form S-1 related to the registration for resale of certain existing shares of the ILE's common stock and warrants held by current shareholders. The company filed the registration statement, in part, to satisfy registration obligations contained in the Amended and Restated Registration Rights Agreement, dated April 16, 2024, by and among iLearningEngines, members of Arrowroot Acquisition LLC, and certain former stockholders of iLearningEngines, Inc.
iLearningEngines is neither issuing nor selling new shares of its common stock in connection with the registration statement, and there will be no change to the number of outstanding shares unless warrants covered by the registration statement are subsequently exercised. A substantial portion of the registered shares are subject to resale restrictions, the details of which are disclosed in the registration statement.
As a reminder, iLearningEngines will report financial results for the second quarter ended June 30, 2024 before the U.S. financial markets open on Tuesday, August 13, 2024. The company will also host a conference call and webcast presentation on Tuesday, August 13, 2024 at 8:00 a.m. Eastern Time to discuss the Company's financial results. A live webcast of the call will be available on iLearningEngines' Investor Relations website, https://investors.ilearningengines.com/, via its "Events & Presentations" page. Please use the following registration link to access the call by phone. A replay of the webcast also will be available for a limited time at https://investors.ilearningengines.com/.
About iLearningEngines
iLearningEngines (Nasdaq: AILE) is a leading Applied AI platform for learning and work automation. iLearningEngines enables Enterprises to rapidly productize and deploy a wide range of AI applications and use cases (AI Engines) at scale.
iLearningEngines is powered by proprietary vertical specific AI models and data with a flexible No Code AI canvas to drive rapid out-of-the-box deployment while offering low latency and high levels of data security and compliance.
Serving over 1,000 enterprise end customers, iLearningEngines is deployed globally into some of the most demanding vertical markets including Healthcare, Education, Insurance, Retail, Energy, Manufacturing and Public Sector to achieve mission critical outcomes.
For more information about iLearningEngines, please visit: www.ilearningengines.com.
IR & Press Contacts:
Investor Contact:
Kevin Hunt, ICR Inc.
iLearningEnginesIR@icrinc.com
Press Contact:
Dan Brennan, ICR Inc.
iLearningPR@icrinc.com
