Particle.news
Download on the App Store
3 ARTICLES
·
last wk.

Kodiak Robotics to Go Public in $2.5 Billion SPAC Deal with Ares Acquisition Corp. II

The merger, approved by both companies' boards, will provide over $660 million in funding to scale Kodiak's autonomous trucking operations and expand its market reach.

Image
Image

Overview

  • Kodiak Robotics has announced a definitive agreement to merge with Ares Acquisition Corp. II (AACT), forming a publicly listed company named Kodiak AI Inc.
  • The merger values Kodiak Robotics at approximately $2.5 billion and is expected to close in the second half of 2025, pending shareholder and regulatory approvals.
  • The transaction secures $551 million in cash held in trust by AACT and over $110 million in committed financing from institutional investors, including Soros Fund Management, ARK Investments, and Ares.
  • Kodiak’s Driver-as-a-Service model powers its first fully active commercial driverless truck operations in the Permian Basin, with customer Atlas Energy Solutions committing to an initial order of 100 trucks.
  • Founded in 2018, Kodiak has positioned itself as an industry leader with its AI-powered Kodiak Driver platform, targeting both off-road and long-haul logistics markets.