Every 8-K that Ares Acquisition Corporation II (AACT) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow AACT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AACT filings page.
Kodiak AI, Inc. entered into subscription agreements for a $100 million private placement of 15,384,609 common shares at $6.50 each, with accompanying five-year warrants for 15,384,609 shares exercisable at $6.00. An affiliate of Ares Management is investing about $5 million. Kodiak plans to use the proceeds for working capital and general corporate purposes.
For the quarter ended March 31, 2026, Kodiak reported revenue of $1.8 million, up 74% quarter-over-quarter, and net income of $26.5 million driven largely by a $64.7 million non-cash gain on common stock warrants, despite a $37.9 million GAAP operating loss. Free cash flow was negative $35.0 million, and cash, cash equivalents and marketable securities totaled $90.2 million at quarter end, excluding the planned PIPE proceeds.
Operationally, Kodiak expanded its fleet to 28 customer-owned fully-driverless trucks and accumulated more than 23,500 cumulative hours of paid driverless operations, a 120% increase over the end of Q4 2025.
Kodiak AI, Inc. reported fourth quarter and full year 2025 results that combine rapid operational scaling with very heavy losses. Q4 revenue was $1.1 million, up 37% from the prior quarter, driven by expanding deployment of its Kodiak Driver autonomous trucking platform.
For 2025, revenue totaled $3.8 million versus $14.9 million in 2024, while net loss widened sharply to $585.5 million, largely reflecting non-cash fair value changes and equity-related charges. Cash used in operating activities was $94.4 million, and free cash flow was negative $116.5 million, underscoring significant cash burn.
Operationally, Kodiak scaled to 20 fully driverless trucks with Atlas Energy Solutions, logged over 10,700 cumulative hours of paid driverless operations, signed a collaboration with Bosch, won a U.S. Marine Corps contract, refinanced $30 million of debt, and ended the year with $120.7 million in cash, cash equivalents and marketable securities.
Kodiak AI, Inc. entered into a new senior secured venture loan and security agreement with Horizon Technology Finance Corporation, providing a term loan facility of up to $30.0 million. The company and its subsidiary Kodiak Robotics, Inc. borrowed $30.0 million on December 31, 2025, using part of the proceeds to repay existing indebtedness with the same lender and the remainder for working capital and general corporate purposes.
The loan bears interest at the prime rate plus 3.50%, with a prime floor of 6.50%. Kodiak will make interest-only payments from February 1, 2026 through July 1, 2028, then repay principal and interest in 18 equal monthly installments until the January 1, 2030 maturity date. The borrowers paid a $300,000 commitment fee and will owe a $1.2 million final payment at payoff, and may prepay subject to a 2.0% or 1.0% premium depending on timing.
The facility is secured by substantially all of the borrowers’ assets, including intellectual property, and includes customary covenants and events of default. In connection with this transaction, Kodiak terminated its prior venture loan and security agreement dated September 28, 2022 with the same lender.
Kodiak AI, Inc. filed Amendment No. 2 to its Form 8-K to provide updated unaudited pro forma condensed combined financial information following the consummation of the business combination between Ares Acquisition Corporation II and Kodiak Robotics, Inc.
The update incorporates the Company’s financial results for the quarter ended September 30, 2025 and presents pro forma information for the nine months ended September 30, 2025 and for the year ended December 31, 2024, as set forth in Exhibit 99.1. The company stated that, aside from these pro forma updates, no other information from the prior 8-K filings is amended.
Kodiak AI’s securities are listed on Nasdaq under common stock ticker KDK and redeemable warrants ticker KDKRW, with each warrant exercisable for one share at an exercise price of $9.28.
Kodiak AI, Inc. filed an 8‑K stating it furnished a press release announcing financial results for the period ended September 30, 2025. The release, dated November 12, 2025, is included as Exhibit 99.1 and incorporated by reference.
The company notes the information under Item 2.02, including Exhibit 99.1, is furnished and not deemed filed under Section 18 of the Exchange Act. Kodiak AI’s securities listed on Nasdaq include Class A common stock (symbol KDK) and redeemable warrants (symbol KDKRW) exercisable for one share at an exercise price of $9.28.
Kodiak AI, Inc. announced Warrant Adjustments to its outstanding warrants, effective after the close of trading on October 20, 2025. The Company notified holders on October 21, 2025, covering 24,999,990 publicly traded warrants and 14,300,000 private placement warrants, each exercisable for shares of common stock.
The adjustments were made under Section 4.3.2 of the Warrant Agreement following the business combination with Kodiak Robotics, Inc. and AAC II Merger Sub, Inc. The triggers included issuing equity at a Newly Issued Price of less than $9.20 per share, aggregate gross proceeds from such issuances representing more than 60% of total equity proceeds (net of redemptions), and a Market Value over a 20‑day period below $9.20 per share. The Market Value was determined to be $8.07 per share.
A Warrant Adjustment Notice dated October 21, 2025 was filed as Exhibit 99.1.
Ares Acquisition Corp II (now Kodiak AI, Inc.) filed an amendment to a Current Report to supply updated unaudited pro forma condensed combined financial information. The amendment incorporates revised preliminary valuations for the Preferred Stock, the PIPE Warrants, and the Non-Redemption Warrants and otherwise leaves the original report unchanged. The pro forma figures cover the six months ended June 30, 2025 and the year ended December 31, 2024. The filing also includes a cover page interactive Inline XBRL data file. The amendment is labeled as being filed solely to provide these updated pro forma financials and is signed by the company’s CEO, Don Burnette.
Kodiak Robotics completed a business combination with Ares Acquisition Corporation II (AACT) and domesticated into Kodiak AI, Inc. At closing, AACT Class A shares and related warrants converted into Kodiak common stock and corresponding warrants, and AACT units were adjusted so holders received common stock and one-half of a public warrant.
Legacy Kodiak securityholders received Earn Out Securities tied to three VWAP-based share-price milestones of $18, $23 and $28 (each threshold vests 25,000,000 securities if met within a four-year earn-out period). Second-lien financing of $43.9 million was funded pre-closing (including a $10.0 million Exchanged SAFE that remains outstanding), and 1,091,519 shares were issued to an advisor to satisfy $12.5 million of fees. Non-redemption agreements prevented rescission or redemption of 3,319,712 Class A shares and resulted in issuance of 7,606,666 warrants and 368,028 shares. Kodiak’s common stock and public warrants began trading on Nasdaq under KDK and KDKRW on September 25, 2025.
Ares Acquisition Corp II (AACT) entered into a definitive Business Combination Agreement with Kodiak Robotics, Inc., under which AACT and its wholly owned merger subsidiary will combine with Kodiak. A related S-4 registration statement (No. 333-287278) containing a proxy statement/prospectus was declared effective by the SEC on August 29, 2025, and AACT began mailing the definitive proxy that same day, with Supplement No. 1 filed September 15, 2025 and Supplement No. 2 filed September 23, 2025.
The filing emphasizes forward-looking statements about the combined company and lists numerous risks that could cause actual results to differ materially, including technology and product risks related to autonomous vehicles, potential regulatory or shareholder approval delays, redemption levels by public holders, the need to complete PIPE and other financing, supply-chain and manufacturing risks, and the possibility that anticipated benefits of the Business Combination are not realized. The filing is signed on behalf of Ares Acquisition Corporation II by Allyson Satin, Chief Operating Officer.
Ares Acquisition Corporation II (AACT) filed an 8-K reporting a proposed business combination with Legacy Kodiak that would domesticate AACT to Delaware and rename it "Kodiak AI, Inc." The filing states that upon closing each issued Class A ordinary share will convert one-for-one into common stock of the new Delaware corporation. AACT filed a definitive proxy statement/prospectus on August 29, 2025, for an extraordinary general meeting to vote on the transaction; a press release dated September 23, 2025, is furnished as Exhibit 99.1. The filing discloses Non-Redemption Warrants exercisable into 7,606,666 shares and describes exercise-price adjustment mechanics to a floor of $8.00 (and later $6.00 under certain conditions). The parties note potential additional capital raises and list customary registration rights for shares underlying the Non-Redemption Warrants.
Ares Acquisition Corporation II (AACT) filed an 8-K describing material steps in its proposed business combination with Kodiak Robotics, Inc. AACT will domesticate from the Cayman Islands to Delaware and change its name to "Kodiak AI, Inc." at closing, at which point each AACT Class A ordinary share will convert one-for-one into Kodiak common stock. The filing describes a Series A Preferred Investment and PIPE transactions tied to closing, and discloses that the registration statement was declared effective and the proxy statement/prospectus was mailed on August 29, 2025.
The company set a Second Lien conversion price of $6.00 as of September 15, 2025; assuming conversions and based on AACTs $11.39 closing price on August 18, 2025, certain sponsor-affiliated loans would convert into 3,531,854 shares (~$40.2 million) and an officer/employee vehicle would receive 2,074,549 shares (~$23.6 million). An Extraordinary General Meeting to vote on the business combination is scheduled for September 23, 2025, at 9:00 a.m. ET, held in person and via webcast.
Ares Acquisition Corporation II filed an 8-K attaching an Investor Presentation dated August 25, 2025 regarding the previously announced proposed business combination with Kodiak Robotics, Inc. The presentation summarizes the expected benefits of the merger, market size estimates for commercial trucking and public sector applications, Kodiak's product and operational roadmap, and projected Driver-as-a-Service economics including assumptions around human driver costs and customer savings. The filing discloses a contemplated $100.0 million PIPE and notes the Registration Statement (File No. 333-287278) that will include a proxy statement/prospectus for shareholder voting. The document emphasizes forward-looking assumptions and lists numerous risks, including regulatory approvals, redemption levels by AACT public holders, supply chain and manufacturing risks, competition, and the possibility that the transaction benefits may not be realized.
Ares Acquisition Corporation II (AACT) has entered into a material working capital loan agreement with its sponsor, Ares Acquisition Holdings II LP, for up to $2 million. The unsecured loan, dated June 23, 2025, will be used to finance transaction costs related to AACT's proposed business combination with Kodiak Robotics.
Key terms of the working capital loan:
- No interest on unpaid principal balance
- Matures upon earlier of business combination completion or last day to complete business combination
- Convertible into warrants of post-merger company at $1.00 per warrant
- Each warrant exercisable for one ordinary share at $11.50
The company has filed an S-4 registration statement (No. 333-287278) on May 14, 2025, regarding the proposed merger with Kodiak Robotics. If AACT fails to complete a business combination, the loan will only be repaid using funds available outside the trust account.