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Kodiak Robotics and Ares Acquisition Corporation II (NYSE: AACT) have secured over $275 million in funding for their proposed business combination, significantly exceeding their initial target. The funding includes $212.5 million from institutional investors and $62.9 million remaining in the Trust Account after redemptions.
The extraordinary general meeting to approve the business combination has been postponed to 2:00 PM ET on September 23, 2025. Upon completion, the combined company plans to list on Nasdaq under the symbols "KDK" and "KDKRW" for common stock and public warrants, respectively.
Kodiak Robotics and Ares Acquisition Corporation II (NYSE: AACT) have secured a significant $145 million PIPE commitment in convertible preferred stock and common stock warrants to support their proposed business combination. Institutional investors have now funded or committed over $220 million in total financing since announcing the merger.
The deal includes potential access to $562 million in AACT's trust account (subject to redemptions). The extraordinary general meeting for shareholder approval is scheduled for September 23, 2025. Upon completion, the combined company plans to list on Nasdaq under the symbols "KDK" and "KDKRW" for common stock and public warrants, respectively.
Ares Acquisition Corporation II (NYSE: AACT) urges shareholders to vote on the proposed business combination with Kodiak Robotics, Inc., a leading AI-powered autonomous vehicle technology provider. The Extraordinary General Meeting is scheduled for September 23, 2025, with shareholders of record as of August 20, 2025 eligible to vote.
Following the business combination, the company will be renamed to Kodiak AI, Inc. and will transition from NYSE to Nasdaq, trading under the symbols "KDK" and "KDKRW" for common stock and warrants respectively. The last trading day on NYSE is expected to be around September 24, 2025, with Nasdaq trading anticipated to begin on September 25, 2025.
Kodiak Robotics and Roush Industries have achieved a significant milestone with the delivery of their first Kodiak Driver-equipped autonomous truck from Roush's production line. The truck was delivered to Atlas Energy Solutions (NYSE: AESI) in August 2025, marking Atlas's eighth delivery out of a 100-truck order.
The manufacturing partnership, announced in June 2025, involves Roush upfitting trucks with Kodiak's AI-powered autonomous driving system at their Livonia, Michigan facility. The companies plan to scale production to hundreds of trucks by the end of 2026.
Additionally, Kodiak is pursuing a business combination with Ares Acquisition Corporation II (NYSE: AACT), with a shareholder vote scheduled for September 23, 2025. Upon approval, the combined company plans to list on Nasdaq under symbols "KDK" and "KDKRW" on September 25, 2025, targeting the $4+ trillion global trucking market.
Ares Acquisition Corporation II (NYSE: AACT) and Kodiak Robotics announced key milestones in their proposed business combination. The SEC has declared effective their Registration Statement on Form S-4, and an extraordinary general meeting is scheduled for September 23, 2025, to approve the merger.
Following the completion of the business combination, the combined company plans to list on Nasdaq under the symbols "KDK" and "KDKRW". The meeting will be held both in-person in New York and virtually, with shareholders of record as of August 20, 2025 eligible to vote.
Kodiak Robotics, focused on autonomous trucking technology, is already operating driverless freight deliveries. The company views this merger as an opportunity to scale operations and advance its autonomous technology implementation in trucking and public sector applications.
Kodiak Robotics, preparing to go public through a merger with Ares Acquisition Corporation II (NYSE: AACT), has appointed Surajit Datta as its new Chief Financial Officer. Datta brings over 20 years of experience in strategic finance, particularly from AI and technology companies including SentinelOne and Arm.
The appointment comes as Kodiak prepares for its NASDAQ listing in the second half of 2025. Datta will oversee all financial operations, including FP&A, accounting, tax, treasury, investor relations, and internal audit. He succeeds Eric Chow, who will support the transition through the end of 2025.
Kodiak Robotics (NYSE:AACT) has appointed Mohamed "Mo" Elshenawy, former President and CTO of Cruise LLC, to its board of directors. This strategic appointment comes as Kodiak prepares to become publicly listed through a business combination with Ares Acquisition Corporation II.
Elshenawy brings over 20 years of experience in AI, product, and engineering leadership, particularly in autonomous vehicle technology. At Cruise, he led the launch of the first commercial driverless rideshare service in San Francisco. He currently serves as CTO at Hims & Hers Health and holds advisory positions at Mercedes-Benz and Wasoko-MaxAB.
The company recently added other notable board members, including Ken Goldman and Kristin Sverchek. Following the business combination expected to close in H2 2025, the company will be renamed to Kodiak AI, Inc. and trade under the ticker symbol KDK.
Kodiak Robotics, an AI-powered autonomous vehicle technology company, has appointed two new board members ahead of its public listing through a business combination with Ares Acquisition Corporation II (NYSE: AACT). The new appointees are:
Ken Goldman, a veteran financial executive with over 40 years of leadership experience, former CFO of Yahoo!, Fortinet, and other public companies, who has served on more than 40 corporate boards and helped three companies go public.
Kristin Sverchek, former President of Lyft and its first General Counsel, brings expertise in taking high-growth tech companies public and technology-enabled transportation.
The business combination is expected to close in H2 2025, after which the company will be renamed to Kodiak AI, Inc. and trade under the ticker symbols KDK and KDK WS.
Ares Acquisition II (NYSE: AACT) has reported that approximately 1.3% of public shareholders have exercised their redemption rights ahead of the extraordinary general meeting. Only 640,288 Class A ordinary shares were submitted for redemption, leaving an estimated $550 million in the company's trust account.
Following the Meeting and pending Extension approval, the company projects 61,859,712 Class A Ordinary Shares will be outstanding, including the Sponsor's conversion of 12,500,000 Class B shares. The Sponsor has committed to monthly trust account deposits of $0.02 per outstanding public share starting April 25, 2025, continuing until either a business combination is completed or the deadline expires.
The company's proposed merger with Kodiak Robotics, Inc. is anticipated to close in the second half of 2025, subject to shareholder approval and other closing conditions.
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