George Soros-Backed Kodiak Robotics Merger Fuels AACT SPAC Stock Rally

Ares Acquisition Corporation II (AACT) shares surged 6.42% in after-hours trading to $9.45 following the successful fundraising for its planned merger with Kodiak Robotics. Institutional investors, including George Soros and Cathie Wood, pledged over $212.5 million in PIPE financing, exceeding the initial target of $100 million. The post-merger company will be listed on NASDAQ under the ticker symbols "KDK" and "KDKRW", subject to listing criteria and closing conditions.