iLearningEngines (AILE) Announces $20M Funding to Execute Growth Plans
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iLearningEngines Secures $20 Million Incremental Funding To Help Execute Growth Plans
July 3, 2024 8:00 AM EDTBETHESDA, Md., July 03, 2024 (GLOBE NEWSWIRE) -- iLearningEngines, Inc. (NASDAQ: AILE) (iLearningEngines or ILE) a leader in AI-powered learning and work automation, announced today that it has entered into a First Amendment to Loan and Security Agreement (the Amendment) with the involved financial institutions (the Lenders) and East West Bank, as administrative agent and collateral agent for the Lenders, which amends the existing Loan and Security Agreement, dated April 17, 2024, between iLearningEngines wholly owned subsidiary, iLearningEngines Holdings, Inc. (iLE Holdings), the Lenders and East West Bank (the Loan Agreement). The purpose of the Amendment is to, among other things, secure an... More
