Ares Acquisition Corp. II and Kodiak Raise Over $275 Million to Support Proposed Merger

Ares Acquisition Corp. II and Kodiak have raised more than $275 million in support of their proposed merger. The funds will be used to finance the deal, which will combine the two companies. The merger is expected to create a new entity with a strong financial backing. The companies did not disclose any further details about the merger.

Ares Acquisition Corp. II (NYSE: AACT) and Kodiak Robotics, Inc. have raised over $275 million to support their proposed merger, as announced on September 23, 2025. The funding includes approximately $212.5 million in financing for Kodiak and AACT, with the remaining $62.9 million held in trust following redemptions Kodiak and Ares Acquisition Corporation II Have Raised Over $275 Million to Support Proposed Business Combination Following Redemptions^[1].

The extraordinary general meeting of AACT shareholders, originally scheduled for September 23, 2025, at 9:00 a.m., has been postponed to 2:00 p.m. to allow additional time for engagement with shareholders. The meeting will be held both in person and virtually via live webcast Kodiak and Ares Acquisition Corporation II Have Raised Over $275 Million to Support Proposed Business Combination Following Redemptions^[1].

Kodiak Robotics, founded in 2018, is a leading provider of AI-powered autonomous vehicle technology. The company's vision is to become the trusted world leader in autonomous ground transportation, addressing critical supply chain challenges through its driverless solution, the Kodiak Driver Kodiak and Ares Acquisition Corporation II Have Raised Over $275 Million to Support Proposed Business Combination Following Redemptions^[1].

Ares Acquisition Corp. II is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination Kodiak and Ares Acquisition Corporation II Have Raised Over $275 Million to Support Proposed Business Combination Following Redemptions^[1].

The merger is expected to create a new entity with strong financial backing, although further details about the merger have not been disclosed. The combined company intends to list its common stock and public warrants on the Nasdaq Stock Market under the proposed symbols "KDK" and "KDKRW," respectively, subject to the closing of the proposed business combination and fulfillment of all Nasdaq listing requirements Kodiak and Ares Acquisition Corporation II Have Raised Over $275 Million to Support Proposed Business Combination Following Redemptions^[1].

The extraordinary general meeting is crucial for shareholders to voice their opinions and authorize their proxies. Shareholders are encouraged to participate either in person or virtually, with proxy voting available online or by mail Kodiak and Ares Acquisition Corporation II Have Raised Over $275 Million to Support Proposed Business Combination Following Redemptions^[1].