Overview

• The stock began trading Thursday under tickers KDK and KDKRW and fell nearly 13 percent on day one, then slid more than 6 percent in Friday pre-market trading to about $7.50.
• Ares Acquisition Corp. II shareholders approved the business combination with 88 percent of votes cast in favor, valuing the company at $2.5 billion.
• After heavy redemptions reduced trust cash to $62.9 million before expenses, Kodiak said it secured more than $212.5 million in proceeds, including a $145 million PIPE.
• Kodiak reports more than 3 million autonomous miles, over 3,000 hours of commercial operation, and thousands of paid loads for customers such as Maersk, IKEA, J. B. Hunt and C. R. England.
• The company is deploying its Kodiak Driver through retrofits and a per-mile or per-vehicle licensing model, with Roush delivering an upfitted truck to Atlas Energy Solutions, which now operates eight Kodiak-powered trucks from an initial 100-truck order.