Otterbourg Advises East West Bank in Strategic Financing of iLearningEngines
April 17, 2024
A team from Otterbourg advised East West Bank, the largest publicly traded bank based in Southern California, in connection with a $60 million credit facility provided to iLearningEngines (Nasdaq: AILE), a publicly traded company that operates an artificial intelligence platform for learning automation.
iLearningEngines had previously gone public through its merger with Arrowfoot Acquisition Corp, a special purpose acquisition corporation (SPAC). The East West financing was done in connection with a unique take-private transaction to “de-SPAC” the company, requiring the expertise of the firm both as to financing and securities law.
The Otterbourg team was led by partners Jason Miller (Finance) and Adele Hogan (M&A) and included associate Matthew Callahan (Finance).
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