These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; iLearningEngines’ failure to realize the anticipated benefits of the Business Combination; risks related to the rollout of iLearningEngines’ business and the timing of expected business milestones; iLearningEngines’ dependence on a limited number of customers and partners; iLearningEngines’ ability to obtain sufficient financing to pay its expenses incurred in connection with the closing of the business combination; the ability of iLearningEngines to issue equity or equity-linked securities or obtain debt financing in the future; risks related to iLearningEngines’ need for substantial additional financing to implement its operating plans, which financing it may be unable to obtain, or unable to obtain on acceptable terms; iLearningEngines’ ability to maintain the listing of its securities on Nasdaq or another national securities exchange; the risk that the Business Combination disrupts current plans and operations of iLearningEngines; the effects of competition on iLearningEngines future business and the ability of iLearningEngines to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; risks related to political and macroeconomic uncertainty; the outcome of any legal proceedings that may be instituted against iLearningEngines or any of their respective directors or officers, including litigation related to the Business Combination; the impact of the global COVID-19 pandemic on any of the foregoing risks; and those factors discussed in iLearningEngines’ filings with the Securities and Exchange Commission under the heading "Risk Factors.” If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.
BETHESDA, 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”).
In addition, forward-looking statements reflect iLearningEngines’ expectations, plans, or forecasts of future events and views as of the date of this communication.iLearningEngines anticipate that subsequent events and developments will cause iLearningEngines’ assessments to change.
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Author / Journalist: iLearningEngines Holdings, Inc.
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