Earnings summaries and quarterly performance for AACT.
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Kodiak AI, Inc. Completes Business Combination and Adopts New Policies
AACT
M&A
Financial Restatement
Executive Compensation
- 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..
- 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.
- Unaudited pro forma combined financial statements are available for the six months ended June 30, 2025, and the year ended December 31, 2024.
| Metric | FY 2024 | 6 Months Ended June 30, 2025 |
|---|---|---|
| Revenues ($USD Thousands) | $14,933 | $1,974 |
| Net loss ($USD Thousands) | $(257,041) | $(54,665) |
| Net loss per share ($USD) | $(1.48) | $(0.31) |
Sep 30, 2025, 9:30 PM
Ares Acquisition Corporation II Shareholders Approve Business Combination with Kodiak Robotics
AACT
M&A
Proxy Vote Outcomes
Delisting/Listing Issues
- 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.
- Following the approval, AACT will change its jurisdiction of incorporation to Delaware and be renamed Kodiak AI, Inc..
- 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.
- For the Business Combination Proposal, 36,431,650 Ordinary Shares were voted in favor.
Sep 23, 2025, 9:27 PM
Ares Acquisition Corporation II and Kodiak Robotics Announce Funds Raised and Meeting Postponement
AACT
M&A
Proxy Vote Outcomes
New Projects/Investments
- 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.
- 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.
- 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.
- 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.
- 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".
Sep 23, 2025, 10:38 AM
Ares Acquisition Corporation II Announces $145 Million Investment for Business Combination
AACT
M&A
Convertible Preferred Issuance
New Projects/Investments
- 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.
- This new commitment brings the total financing from institutional investors to over $220 million since the business combination was announced.
- An Extraordinary General Meeting of shareholders is scheduled for September 23, 2025, to approve the proposed business combination.
- As of August 18, 2025, AACT's trust account held approximately $562 million in cash.
Sep 15, 2025, 12:36 PM
Quarterly earnings call transcripts for AACT.
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