- **Kodiak AI, Inc. completed its business combination on September 24, 2025**, involving the merger of Legacy Kodiak with Ares Acquisition Corporation II (AACT), which subsequently changed its name to Kodiak AI, Inc..  **[1853138_0001193125-25-225299_d933659d8k.htm:1]** 
- The company adopted a **Compensation Recovery Policy (clawback policy) on September 24, 2025**, to comply with Section 10D of the Exchange Act, allowing for the recovery of "Excess Compensation" from "Covered Executives" in the event of an accounting restatement.  **[1853138_0001193125-25-225299_d933659dex1019.htm:1]** 
- Unaudited pro forma combined financial statements are available for the six months ended June 30, 2025, and the year ended December 31, 2024.  **[1853138_0001193125-25-225299_d933659dex991.htm:14]** **[1853138_0001193125-25-225299_d933659dex991.htm:15]** 

| Metric | FY 2024 | 6 Months Ended June 30, 2025 |
|---|---|---|
| Revenues ($USD Thousands) | **$14,933**  **[1853138_0001193125-25-225299_d933659dex991.htm:15]**  | **$1,974**  **[1853138_0001193125-25-225299_d933659dex991.htm:14]**  |
| Net loss ($USD Thousands) | **$(257,041)**  **[1853138_0001193125-25-225299_d933659dex991.htm:15]**  | **$(54,665)**  **[1853138_0001193125-25-225299_d933659dex991.htm:14]**  |
| Net loss per share ($USD) | **$(1.48)**  **[1853138_0001193125-25-225299_d933659dex991.htm:15]**  | **$(0.31)**  **[1853138_0001193125-25-225299_d933659dex991.htm:14]**  |

Kodiak AI, Inc. Completes Business Combination and Adopts New Policies

- On **September 23, 2025**, Ares Acquisition Corporation II (AACT) shareholders approved the **Business Combination Proposal** and other related proposals with Kodiak Robotics, Inc. at an extraordinary general meeting.  **[1853138_0001193125-25-213630_d59806d8k.htm:1]** 
- Following the approval, AACT will change its jurisdiction of incorporation to Delaware and be renamed **Kodiak AI, Inc.**.  **[1853138_0001193125-25-213630_d59806d8k.htm:3]** 
- The common stock and public warrants of the post-Business Combination company are expected to begin trading on Nasdaq on or about **September 25, 2025**, under the symbols **"KDK"** and **"KDKRW"**, respectively.  **[1853138_0001193125-25-213630_d59806d8k.htm:3]** 
- For the Business Combination Proposal, **36,431,650 Ordinary Shares** were voted in favor.  **[1853138_0001193125-25-213630_d59806d8k.htm:1]**

Ares Acquisition Corporation II Shareholders Approve Business Combination with Kodiak Robotics

- Ares Acquisition Corporation II (AACT) and Kodiak Robotics, Inc. have raised **over $275 million** to support their proposed business combination, including **$212.5 million** from institutional investors and **$62.9 million** remaining in the Trust Account after redemptions.  **[1853138_0001193125-25-212149_d946584dex991.htm:0]** 
- The Extraordinary General Meeting of shareholders to approve the business combination was postponed and will now be held on **September 23, 2025, at 2:00 p.m. Eastern Time**.  **[1853138_0001193125-25-212149_d946584dex991.htm:0]** 
- Following redemptions, **43,866,808 Class A Ordinary Shares** were redeemed for approximately **$502.4 million**, resulting in **5,492,904 Class A Ordinary Shares** held by public shareholders and **$62.9 million** remaining in the Trust Account before expenses.  **[1853138_0001193125-25-212149_d946584d8k.htm:7]** 
- Non-redemption agreements were entered into on **September 22, 2025**, with third-party holders agreeing not to redeem **865,949 Class A Ordinary Shares** in exchange for **368,028 shares of Common Stock** from Kodiak.  **[1853138_0001193125-25-212149_d946584d8k.htm:5]** **[1853138_0001193125-25-212149_d946584d8k.htm:6]** 
- The post-business combination company intends to list its common stock and public warrants on The Nasdaq Stock Market under the proposed symbols **"KDK" and "KDKRW"**.  **[1853138_0001193125-25-212149_d946584dex991.htm:1]**

Ares Acquisition Corporation II and Kodiak Robotics Announce Funds Raised and Meeting Postponement

- Ares Acquisition Corporation II (AACT) and Kodiak Robotics, Inc. announced a **$145 million PIPE commitment** of convertible preferred stock and common stock warrants from institutional investors to support their proposed business combination.  **[1853138_0001193125-25-202878_d945093dex991.htm:0]** 
- This new commitment brings the total financing from institutional investors to **over $220 million** since the business combination was announced.  **[1853138_0001193125-25-202878_d945093dex991.htm:0]** 
- An Extraordinary General Meeting of shareholders is scheduled for **September 23, 2025**, to approve the proposed business combination.  **[1853138_0001193125-25-202878_d945093dex991.htm:0]** **[1853138_0001193125-25-202878_d945093dex991.htm:1]** 
- As of **August 18, 2025**, AACT's trust account held approximately **$562 million** in cash.  **[1853138_0001193125-25-202878_d945093dex991.htm:0]**

Company not found (AACT)