{"id":836901,"date":"2025-04-14T08:24:56","date_gmt":"2025-04-14T12:24:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii\/"},"modified":"2025-04-14T08:24:56","modified_gmt":"2025-04-14T12:24:56","slug":"kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii\/","title":{"rendered":"Kodiak, a Leading Provider of AI-Powered Autonomous Vehicle Technology, to Go Public Via Business Combination With Ares Acquisition Corporation II"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<ul type=\"disc\">\n<li>\n          <i><br \/>\n            <span class=\"xn-location\">Kodiak&#8217;s<\/span> AI-powered autonomous platform is built to handle some of the world&#8217;s toughest trucking jobs and has logged over 2.6 million autonomous miles in real-world conditions<\/i>\n        <\/li>\n<li>\n          <i><br \/>\n            <span class=\"xn-location\">Kodiak<\/span> has the first publicly-announced driverless trucks in commercial operations and has strong customer traction across multiple target applications in an estimated $4+ trillion total addressable market<\/i>\n        <\/li>\n<li>\n          <i>Generates recurring revenue through driverless operations in the Permian Basin and autonomously delivering goods daily for customers in locations around the U.S.<\/i>\n        <\/li>\n<li>\n          <i><br \/>\n            <span class=\"xn-location\">Kodiak<\/span> has secured a firm commitment from its strategic partner, Atlas Energy Solutions (NYSE: AESI), for an initial order of 100 trucks<\/i>\n        <\/li>\n<li>\n          <i>Transaction places a pre-money equity value on <span class=\"xn-location\">Kodiak<\/span> of approximately <span class=\"xn-money\">$2.5 billion<\/span>, with existing <span class=\"xn-location\">Kodiak<\/span> equity holders rolling 100% of their interests into the combined company <\/i>\n        <\/li>\n<li>\n          <i>New and existing <span class=\"xn-location\">Kodiak<\/span> institutional investors including Soros<\/i><br \/>\n          <i> Fund Management, ARK Investments and Ares <\/i><br \/>\n          <i>have funded or committed over <span class=\"xn-money\">$1<\/span><\/i><br \/>\n          <i>10<\/i><br \/>\n          <i> million in financing to support the transaction alongside approximately <span class=\"xn-money\">$551 million<\/span> of cash held in trust<\/i>\n        <\/li>\n<li>\n          <i>Additionally, existing <span class=\"xn-location\">Kodiak<\/span> investor ARK Investments has expressed its continued support of <span class=\"xn-location\">Kodiak<\/span>. <span class=\"xn-location\">Kodiak<\/span> was featured in ARK&#8217;s Big Ideas 2025 report<\/i>\n        <\/li>\n<\/ul>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">MOUNTAIN VIEW, Calif.<\/span> and <span class=\"xn-location\">NEW YORK<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">April 14, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Kodiak Robotics, Inc. (&#8220;<span class=\"xn-location\">Kodiak<\/span>&#8221; or the &#8220;Company&#8221;), a leading provider of AI-powered autonomous vehicle technology, and Ares Acquisition Corporation II (NYSE: AACT) (&#8220;AACT&#8221;), a publicly traded special purpose acquisition company, today announced they have entered into a definitive business combination agreement through which <span class=\"xn-location\">Kodiak<\/span> will become a publicly-listed company. AACT is an affiliate of Ares Management Corporation (NYSE: ARES) (&#8220;Ares&#8221;).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2663696\/KODIAK_GEN5_HIGHWAY_1.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2663696\/KODIAK_GEN5_HIGHWAY_1.jpg\" title=\"Kodiak Robotics, Inc. (\u201cKodiak\u201d or the \u201cCompany\u201d), a leading provider of AI-powered autonomous vehicle technology, and Ares Acquisition Corporation II (NYSE: AACT) (\u201cAACT\u201d), a publicly traded special purpose acquisition company, today announced they have entered into a definitive business combination agreement through which Kodiak will become a publicly-listed company.\" alt=\"Kodiak Robotics, Inc. (\u201cKodiak\u201d or the \u201cCompany\u201d), a leading provider of AI-powered autonomous vehicle technology, and Ares Acquisition Corporation II (NYSE: AACT) (\u201cAACT\u201d), a publicly traded special purpose acquisition company, today announced they have entered into a definitive business combination agreement through which Kodiak will become a publicly-listed company.\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <span class=\"xn-location\">Kodiak<\/span> is a pioneering autonomous driving company developing technology to address critical challenges in the transportation industry, including driver shortages, demands for shorter delivery timelines, and rising costs. <span class=\"xn-location\">Kodiak&#8217;s<\/span> single-platform automated driving system, the Kodiak Driver, combines advanced AI-driven software with modular hardware. The Kodiak Driver integrates learnings from real-world experience across commercial trucking and public sector applications to continuously improve AI models and increase reliability and efficiency in a wide range of environments. <span class=\"xn-location\">Kodiak&#8217;s<\/span> platform is designed to enable technology integration with customers&#8217; existing operations, providing a flexible, scalable, Driver-as-a-Service solution tailored to customers&#8217; needs.<\/p>\n<p>\n        <span class=\"xn-location\">Kodiak<\/span> was founded in 2018 by industry veteran, <span class=\"xn-person\">Don Burnette<\/span>, with a vision of becoming the trusted world leader in autonomous ground transportation dedicated to commercializing driverless trucking at scale. In 2024, we believe <span class=\"xn-location\">Kodiak<\/span> became the first company to announce delivery of a driverless trucking product to a customer. Today, <span class=\"xn-location\">Kodiak<\/span> provides differentiated solutions that are demonstrated to make costs more efficient and predictable, enhance fuel economy, and enhance safety across the commercial trucking and public sector markets. By partnering with AACT and accessing the public markets, <span class=\"xn-location\">Kodiak<\/span> is expected to accelerate its go-to-market strategy that aims to address an estimated $4+ trillion global opportunity.<\/p>\n<p>&#8220;This is a remarkable milestone for the <span class=\"xn-location\">Kodiak<\/span> team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology,&#8221; said Burnette, Founder and CEO of <span class=\"xn-location\">Kodiak<\/span>. &#8220;We believe entering the public markets will accelerate our strategy to expand our existing partner relationships, provide our technology to a broader customer base, and deliver enhanced solutions across the commercial trucking and public sector industries. Further, with <span class=\"xn-location\">Kodiak&#8217;s<\/span> disciplined approach to capital management, along with strategic and financial support from Ares, we believe we are well-positioned to execute on our long-term growth plans. On behalf of the entire <span class=\"xn-location\">Kodiak<\/span> team, we are thrilled to be working with Ares and AACT as we continue to drive our mission to create a safer and more efficient future for the trucking industry.&#8221;<\/p>\n<p>&#8220;As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer, <span class=\"xn-location\">Kodiak<\/span> has quickly set itself apart as an industry leader in a significant addressable market,&#8221; said <span class=\"xn-person\">David Kaplan<\/span>, Chief Executive Officer and Co-Chairman of the Board of Directors of AACT and Co-Founder of Ares. &#8220;We are excited to partner with Don and the <span class=\"xn-location\">Kodiak<\/span> team as they seek to further capitalize on significant industry tailwinds and deliver value for their stakeholders.&#8221;<\/p>\n<p>&#8220;We believe <span class=\"xn-location\">Kodiak&#8217;s<\/span> scalable technology, combined with its established network, position the Company to meet the evolving and growing demands of its customers and communities,&#8221; said Allyson Satin, Chief Operating Officer of AACT and Partner at Ares. &#8220;We look forward to lending Ares&#8217; decades of experience investing and navigating through dynamic market environments in support of <span class=\"xn-location\">Kodiak&#8217;s<\/span> long-term goals.&#8221;<\/p>\n<p>\n        <b>Key Investment Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Leading AI-Powered Automated Driving System on Single Technology Platform: <\/b><br \/>\n          <span class=\"xn-location\">Kodiak<\/span> leverages an integrated hardware and software architecture across all deployments to increase reliability, scalability, and efficiency while continuously learning across domains. The Kodiak Driver has logged over 2.6 million autonomous miles in real-world conditions and has been developed for scalability and adaptability to all vehicle types.<\/p>\n<\/li>\n<li>\n          <b>First to Market With Fully Active Driverless Semi-Truck Operations: <\/b>Through its partnership with Atlas Energy Solutions (&#8220;Atlas&#8221;), <span class=\"xn-location\">Kodiak<\/span>-powered driverless trucks have surpassed 750 hours of commercial driverless operations across <span class=\"xn-location\">West Texas&#8217;s<\/span> Permian Basin without a human driver on board. This milestone marks the first publicly announced deployment of customer-owned autonomous semi-trucks in real-world operations. <span class=\"xn-location\">Kodiak<\/span> expects to support Atlas in further expanding its fleet in 2025; in <span class=\"xn-chron\">March 2025<\/span>, the Company secured a firm commitment from Atlas to order an initial 100 trucks, after exceeding key performance and operational milestones.<\/p>\n<\/li>\n<li>\n          <b>Commercial Trucking Business Generating Recurring-Revenue Today:<\/b><br \/>\n          <span class=\"xn-location\">Kodiak&#8217;s<\/span> Driver-as-a-Service business model is tailored to meet the unique needs of its customers by charging customers either a per truck or per mile recurring license fee. Today, <span class=\"xn-location\">Kodiak<\/span> earns recurring revenue through its partnership with Atlas, and owns and operates autonomous trucks that generate a fee paid per delivery.<\/p>\n<\/li>\n<li>\n          <b>Strong Customer Traction Across Multiple Target Applications:<\/b> In addition to Atlas, <span class=\"xn-location\">Kodiak&#8217;s<\/span> partner-first approach has resulted in collaborations with major industry players including Bridgestone, C.R. <span class=\"xn-location\">England<\/span>, <span class=\"xn-person\">J.B. Hunt<\/span>, <span class=\"xn-person\">Martin Brower<\/span>, and Werner Enterprises. In addition, <span class=\"xn-location\">Kodiak<\/span> was awarded a contract by the U.S. Department of Defense and has received approximately <span class=\"xn-money\">$30 million<\/span> to adapt its autonomous technology for U.S. Army vehicles.<\/p>\n<\/li>\n<li>\n          <b>Estimated $4+ Trillion Total Global Addressable Market Across Target End Markets: <\/b>Today, <span class=\"xn-location\">Kodiak&#8217;s<\/span> lane network operates primarily in the Sunbelt region, serving some of the most freight-dense lanes in the U.S. With what we believe is a supportive regulatory environment, partnerships with leading shippers and carriers and a today-ready platform, <span class=\"xn-location\">Kodiak<\/span> estimates a roughly <span class=\"xn-money\">$1 trillion<\/span> market opportunity in the U.S. alone, with the potential for a total global addressable market of over <span class=\"xn-money\">$4 trillion<\/span>.<\/p>\n<\/li>\n<li>\n          <b>Deep Management Expertise: <\/b><br \/>\n          <span class=\"xn-location\">Kodiak<\/span> is led by a team of autonomy veterans with expertise in AI, software, and operations, backed by experience in trucking and the deployment of autonomous systems. The management team is supported by a team of more than 200 people to develop <span class=\"xn-location\">Kodiak&#8217;s<\/span> technology and grow the business.<\/li>\n<\/ul>\n<p>\n        <b>Transaction Overview<\/b>\n      <\/p>\n<p>The proposed business combination ascribes a pre-money equity value of <span class=\"xn-money\">$2.5 billion<\/span> to <span class=\"xn-location\">Kodiak<\/span>. The combined company is expected to receive approximately <span class=\"xn-money\">$551 million<\/span> of cash held in AACT&#8217;s trust account at closing, assuming no redemptions of existing AACT shares and based on trust value per share as of <span class=\"xn-chron\">December 31, 2024<\/span>. Additionally, certain institutional investors, including affiliates of Soros Fund Management, ARK Investments and Ares, have invested or committed over <span class=\"xn-money\">$110 million<\/span> to support the transaction. Additionally, existing <span class=\"xn-location\">Kodiak<\/span> investor ARK Investments has expressed its continued support of the Company.<\/p>\n<p>The boards of directors of both <span class=\"xn-location\">Kodiak<\/span> and AACT have unanimously approved the proposed business combination, which is expected to close in the second half of 2025, subject to approval by AACT and <span class=\"xn-location\">Kodiak<\/span> stockholders and the satisfaction or waiver of customary closing conditions. Upon the closing of the proposed business combination, the combined company will be named Kodiak AI, Inc., and its common stock and public warrants are expected to be listed\u00a0on a national stock exchange and trade under the ticker symbols KDK and KDK WS, respectively, subject to approval by the relevant exchange.<\/p>\n<p>For a summary of the material terms of the transaction, as well as a copy of the business combination agreement and investor presentation, please see the Current Report on Form 8-K to be filed by AACT with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) available at <a href=\"http:\/\/www.sec.gov\" rel=\"nofollow\">www.sec.gov<\/a>. Additional information about the proposed business combination will be described in the registration statement on Form S-4 relating to the transaction (the &#8220;Registration Statement&#8221;), which AACT and <span class=\"xn-location\">Kodiak<\/span> will file with the SEC.<\/p>\n<p>\n        <b>Investor Presentation<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-location\">Kodiak<\/span> and AACT will host a joint investor presentation to discuss the proposed business combination. To listen to the webcast or a replay of the presentation, please visit the Kodiak Investor Relations website at <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4404480-1&amp;h=3455819599&amp;u=http%3A%2F%2Fkodiak.ai%2Finvestors&amp;a=kodiak.ai%2Finvestors\" target=\"_blank\" rel=\"nofollow\">kodiak.ai\/investors<\/a><\/u>.<\/p>\n<p>For Investor Relations, including a copy of the presentation as filed with the SEC, please visit the <span class=\"xn-location\">Kodiak<\/span> website at <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4404480-1&amp;h=3455819599&amp;u=http%3A%2F%2Fkodiak.ai%2Finvestors&amp;a=kodiak.ai%2Finvestors\" target=\"_blank\" rel=\"nofollow\">kodiak.ai\/investors<\/a><\/u>, or the AACT website at <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4404480-1&amp;h=2593702144&amp;u=http%3A%2F%2Fwww.aresacquisitioncorporationii.com%2F&amp;a=www.aresacquisitioncorporationii.com\" target=\"_blank\" rel=\"nofollow\">www.aresacquisitioncorporationii.com<\/a><\/u> or the SEC&#8217;s website at <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4404480-1&amp;h=3378790170&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=www.sec.gov\" target=\"_blank\" rel=\"nofollow\">www.sec.gov<\/a><\/u>.<\/p>\n<p>\n        <b>Advisors<br \/><\/b>Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are serving as capital markets advisors to AACT. Kirkland &amp; Ellis LLP is serving as legal advisor to AACT. Ropes\u00a0&amp; Gray LLP is acting as legal advisor to the capital markets advisors.<\/p>\n<p>Chardan and TD Cowen are acting as Financial and Capital Markets advisors to <span class=\"xn-location\">Kodiak<\/span>. <span class=\"xn-person\">Wilson Sonsini Goodrich<\/span> &amp; Rosati, P.C. is serving as legal advisor to <span class=\"xn-location\">Kodiak<\/span>. Greenberg Traurig, LLP is serving as legal advisor to TD Cowen.<\/p>\n<p>The Blueshirt Group is serving as investor relations advisors for <span class=\"xn-location\">Kodiak<\/span>.<\/p>\n<p>\n        <b>About Kodiak Robotics, Inc.<br \/><\/b>Kodiak Robotics, Inc. was founded in 2018 and has become a leader in autonomous ground transportation committed to a safer and more efficient future for all. The company has developed an artificial intelligence (AI) powered technology stack purpose-built for commercial trucking and the public sector. The company delivers freight daily for its customers across the southern <span class=\"xn-location\">United States<\/span> using its autonomous technology. In 2024, <span class=\"xn-location\">Kodiak<\/span> became the first known company to publicly announce delivering a driverless semi-truck to a customer. <span class=\"xn-location\">Kodiak<\/span> is also leveraging its commercial self-driving software to develop, test and deploy autonomous capabilities for the U.S. Department of Defense.<\/p>\n<p>\n        <b>About Ares Acquisition Corporation II\u00a0<br \/><\/b>Ares Acquisition Corporation II (NYSE: AACT) is a special purpose acquisition company affiliated with Ares Management Corporation, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination.<\/p>\n<p>\n        <b>Forward Looking Statements<\/b>\n      <\/p>\n<p>This press release includes &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) and Section 21E of the Securities Exchange Act of 1934, each as amended. These include\u00a0AACT&#8217;s or <span class=\"xn-location\">Kodiak&#8217;s<\/span> or their management teams&#8217; expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements may be identi\ufb01ed by the use of words such as &#8220;estimate,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; &#8220;forecast,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;seek,&#8221; &#8220;potential,&#8221; &#8220;budget,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;continue&#8221; or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding <span class=\"xn-location\">Kodiak&#8217;s<\/span> and AACT&#8217;s expectations with respect to future performance, the addressable market for <span class=\"xn-location\">Kodiak&#8217;s<\/span> products, <span class=\"xn-location\">Kodiak&#8217;s<\/span> operational and product roadmap and its ability to produce its products at a commercial level, the competitive and regulatory landscape for <span class=\"xn-location\">Kodiak&#8217;s<\/span> products, <span class=\"xn-location\">Kodiak&#8217;s<\/span> estimated target economics, the capitalization of AACT after giving effect to the proposed business combination between AACT and <span class=\"xn-location\">Kodiak<\/span> (the &#8220;proposed business combination&#8221;) and expectations with respect to the future performance and the success of the combined company following the consummation of the proposed business combination (the &#8220;combined company&#8221;). These statements are based on various assumptions, whether or not identi\ufb01ed in this press release, and on the current expectations of <span class=\"xn-location\">Kodiak&#8217;s<\/span> and AACT&#8217;s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied upon by any investors as, a guarantee, an assurance, a prediction or a de\ufb01nitive statement of fact or probability. Actual events and circumstances are dif\ufb01cult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of <span class=\"xn-location\">Kodiak<\/span> and AACT. These forward-looking statements are subject to a number of risks and uncertainties, including changes in business, market, \ufb01nancial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected bene\ufb01ts of the proposed business combination or that the approval of the equity holders of <span class=\"xn-location\">Kodiak<\/span> or AACT is not obtained; failure to realize the anticipated bene\ufb01ts of the proposed business combination; risks related to the rollout of <span class=\"xn-location\">Kodiak&#8217;s<\/span> business and the timing of expected business milestones; the effects of competition on <span class=\"xn-location\">Kodiak&#8217;s<\/span> business; supply shortages in the materials necessary for the production of <span class=\"xn-location\">Kodiak&#8217;s<\/span> products; risks related to working with third-party manufacturers for key components of <span class=\"xn-location\">Kodiak&#8217;s<\/span> products; risks related to the retro\ufb01tting of <span class=\"xn-location\">Kodiak&#8217;s<\/span> vehicles by third parties; the termination or suspension of any of <span class=\"xn-location\">Kodiak&#8217;s<\/span> contracts or the reduction in counterparty spending; delays in <span class=\"xn-location\">Kodiak&#8217;s<\/span> operational roadmap with key partners and customers; the amount of redemption requests made by AACT&#8217;s public equity holders; and the ability of AACT or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future. Additional information concerning these and other factors that may impact such forward-looking statements can be found in \ufb01lings and potential \ufb01lings by <span class=\"xn-location\">Kodiak<\/span>, AACT or the combined company resulting from the proposed business combination with the SEC, including under the heading &#8220;Risk Factors.&#8221; If any of these risks materialize or any assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither <span class=\"xn-location\">Kodiak<\/span> nor AACT presently know or that <span class=\"xn-location\">Kodiak<\/span> and AACT currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by investors as a guarantee, an assurance, a prediction or a de\ufb01nitive statement of fact or probability.<\/p>\n<p>In addition, forward-looking statements re\ufb02ect <span class=\"xn-location\">Kodiak&#8217;s<\/span> and AACT&#8217;s expectations, plans or forecasts of future events and views as of the date they are made. <span class=\"xn-location\">Kodiak<\/span> and AACT anticipate that subsequent events and developments will cause <span class=\"xn-location\">Kodiak&#8217;s<\/span> and AACT&#8217;s assessments to change. However, while <span class=\"xn-location\">Kodiak<\/span> and AACT may elect to update these forward-looking statements at some point in the future, <span class=\"xn-location\">Kodiak<\/span> and AACT speci\ufb01cally disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing <span class=\"xn-location\">Kodiak&#8217;s<\/span> or AACT&#8217;s assessments as of any date subsequent to the date they are made. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither <span class=\"xn-location\">Kodiak<\/span>, AACT, nor any of their respective affiliates have any obligation to update these forward-looking statements other than as required by law. In addition, this press release contains certain information about the historical performance of <span class=\"xn-location\">Kodiak<\/span>. You should not view information related to the past performance of <span class=\"xn-location\">Kodiak<\/span> as indicative of future results. Certain information set forth in this press release includes estimates and targets and involves significant elements of subjective judgment and analysis. No representations are made as to the accuracy of such estimates or targets or that all assumptions relating to such estimates or targets have been considered or stated or that such estimates or targets will be realized.<\/p>\n<p>\n        <b>Additional Information and Where to Find It<\/b>\n      <\/p>\n<p>In connection with the proposed business combination, AACT and <span class=\"xn-location\">Kodiak<\/span> plan to file the Registration Statement with the SEC, which will include a prospectus with respect to the combined company&#8217;s securities to be issued in connection with the proposed business combination and a preliminary proxy statement with respect to the shareholder meeting of AACT to vote on the proposed business combination. AACT and <span class=\"xn-location\">Kodiak<\/span> also plan to file other documents and relevant materials with the SEC regarding the proposed business combination. After the Registration Statement is declared effective by the SEC, the definitive proxy statement\/prospectus included in the Registration Statement will be mailed to the shareholders of AACT as of the record date to be established for voting on the proposed business combination. SECURITY HOLDERS OF <span class=\"xn-location\">KODIAK<\/span> AND AACT ARE URGED TO READ THE PROXY STATEMENT\/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS AND RELEVANT MATERIALS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED BUSINESS COMBINATION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND THE PARTIES TO THE PROPOSED BUSINESS COMBINATION. Shareholders are able to obtain free copies of the proxy statement\/prospectus and other documents containing important information about <span class=\"xn-location\">Kodiak<\/span> and AACT once such documents are filed with the SEC through the website maintained by the SEC at <a href=\"http:\/\/www.sec.gov\" rel=\"nofollow\">http:\/\/www.sec.gov<\/a>. In addition, the documents filed by AACT may be obtained free of charge from AACT at <a href=\"http:\/\/www.aresacquisitioncorporationii.com\" rel=\"nofollow\">www.aresacquisitioncorporationii.com<\/a>. Alternatively, these documents, when available, can be obtained free of charge from AACT upon written request to Ares Acquisition Corporation II, 245 Park Avenue, 44th Floor, <span class=\"xn-location\">New York, NY<\/span> 10167, Attn: Secretary, or by calling (888) 818-5298. The information contained on, or that may be accessed through the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.<\/p>\n<p>\n        <b>Participants in the Solicitation<\/b>\n      <\/p>\n<p>AACT, <span class=\"xn-location\">Kodiak<\/span> and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of AACT in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of AACT&#8217;s executive officers and directors in the solicitation by reading AACT&#8217;s final prospectus related to its initial public offering filed with the SEC on <span class=\"xn-chron\">April 24, 2023<\/span>, the definitive proxy statement\/prospectus, which will become available after the Registration Statement has been declared effective by the SEC, and other relevant materials filed with the SEC in connection with the proposed business combination when they become available. Information concerning the interests of AACT&#8217;s participants in the solicitation, which may, in some cases, be different from those of AACT&#8217;s shareholders generally, will be set forth in the preliminary proxy statement\/prospectus included in the Registration Statement.<\/p>\n<p>\n        <b>No Offer or Solicitation<\/b>\n      <\/p>\n<p>This press release shall not constitute a solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of AACT, <span class=\"xn-location\">Kodiak<\/span> or the combined company resulting from the proposed business combination, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. This press release is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction in where such distribution or use would be contrary to local law or regulation.<\/p>\n<p>\n        <b>Contacts<\/b>\n      <\/p>\n<p>\n        <b>Kodiak Media Relations<br \/><\/b><br \/>\n        <span class=\"xn-person\">Daniel Goff<\/span><br \/>\n        <br \/>Director of External Affairs<br \/><span>+1 646-515-3933<br \/><\/span><a href=\"mailto:dan@kodiak.ai\" target=\"_blank\" rel=\"nofollow\"><span>dan@kodiak.ai<\/span><\/a><\/p>\n<p>\n        <span class=\"xn-person\">Stacy Morris<\/span><br \/>\n        <br \/>\n        <span>PR Consultant<br \/><\/span><br \/>\n        <span>+1 310-415-9188<br \/><\/span><br \/>\n        <a href=\"mailto:stacy.morris@futuristacommunications.com\" target=\"_blank\" rel=\"nofollow\"><br \/>\n          <span>stacy.morris@futuristacommunications.com<\/span><br \/>\n        <\/a>\n      <\/p>\n<p>\n        <b>Kodiak Investor Relations<br \/><\/b><br \/>\n        <span>Lauren <\/span>Sloane<br \/>The Blueshirt Group for <span class=\"xn-location\">Kodiak<\/span><br \/><a href=\"mailto:Lauren@blueshirtgroup.com\" target=\"_blank\" rel=\"nofollow\"><span>Lauren@blueshirtgroup.com<\/span><\/a><\/p>\n<p>\n        <b>Ares Media Relations<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Jacob Silber<\/span><br \/>\n        <br \/>\n        <a href=\"mailto:media@aresmgmt.com\" target=\"_blank\" rel=\"nofollow\"><br \/>\n          <span>media@aresmgmt.com<\/span><br \/>\n        <\/a>\n      <\/p>\n<p>\n        <b>Ares Investor Relations<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Carl Drake<\/span> and <span class=\"xn-person\">Greg Mason<\/span><br \/>+1 888-818-5298<br \/><a href=\"mailto:ir@aresacquisitioncorporationii.com\" target=\"_blank\" rel=\"nofollow\"><span>ir@aresacquisitioncorporationii.com<\/span><\/a><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1728100\/Kodiak_Robotics_Logo.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1728100\/Kodiak_Robotics_Logo.jpg\" title=\"Kodiak Robotics (PRNewsfoto\/Kodiak Robotics)\" alt=\"Kodiak Robotics (PRNewsfoto\/Kodiak Robotics)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF63756&amp;sd=2025-04-14\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii-302427427.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii-302427427.html<\/a><\/p>\n<p>SOURCE  Kodiak Robotics<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF63756&amp;Transmission_Id=202504140800PR_NEWS_USPR_____SF63756&amp;DateId=20250414\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Kodiak&#8217;s AI-powered autonomous platform is built to handle some of the world&#8217;s toughest trucking jobs and has logged over 2.6 million autonomous miles in real-world conditions Kodiak has the first publicly-announced driverless trucks in commercial operations and has strong customer traction across multiple target applications in an estimated $4+ trillion total addressable market Generates recurring revenue through driverless operations in the Permian Basin and autonomously delivering goods daily for customers in locations around the U.S. Kodiak has secured a firm commitment from its strategic partner, Atlas Energy Solutions (NYSE: AESI), for an initial order of 100 trucks Transaction places a pre-money equity value on Kodiak of approximately $2.5 billion, with existing Kodiak equity holders rolling 100% of their &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kodiak, a Leading Provider of AI-Powered Autonomous Vehicle Technology, to Go Public Via Business Combination With Ares Acquisition Corporation II&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-836901","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kodiak, a Leading Provider of AI-Powered Autonomous Vehicle Technology, to Go Public Via Business Combination With Ares Acquisition Corporation II - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kodiak, a Leading Provider of AI-Powered Autonomous Vehicle Technology, to Go Public Via Business Combination With Ares Acquisition Corporation II - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Kodiak&#8217;s AI-powered autonomous platform is built to handle some of the world&#8217;s toughest trucking jobs and has logged over 2.6 million autonomous miles in real-world conditions Kodiak has the first publicly-announced driverless trucks in commercial operations and has strong customer traction across multiple target applications in an estimated $4+ trillion total addressable market Generates recurring revenue through driverless operations in the Permian Basin and autonomously delivering goods daily for customers in locations around the U.S. Kodiak has secured a firm commitment from its strategic partner, Atlas Energy Solutions (NYSE: AESI), for an initial order of 100 trucks Transaction places a pre-money equity value on Kodiak of approximately $2.5 billion, with existing Kodiak equity holders rolling 100% of their &hellip; Continue reading &quot;Kodiak, a Leading Provider of AI-Powered Autonomous Vehicle Technology, to Go Public Via Business Combination With Ares Acquisition Corporation II&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kodiak-a-leading-provider-of-ai-powered-autonomous-vehicle-technology-to-go-public-via-business-combination-with-ares-acquisition-corporation-ii\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-14T12:24:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/2663696\/KODIAK_GEN5_HIGHWAY_1.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" 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