Kodiak Robotics to go public through merger with AACT

GlobalData

Tue, Apr 15, 2025, 10:17 AM 2 min read

Kodiak Robotics, a developer of autonomous conveyance technology, has signed a definitive concern operation statement with Ares Acquisition Corporation II (AACT), a peculiar intent acquisition institution affiliated with Ares Management Corporation.

Upon completion of the transaction, Kodiak volition go a publically listed institution successful the US nether the sanction Kodiak AI.

Founded successful 2018, Kodiak focuses connected AI-powered autonomous driving systems for the commercialized trucking industry.

Its halfway product, the Kodiak Driver, is simply a single-platform solution combining AI bundle and modular hardware designed to integrate with customers’ existing logistics operations.

The boards of Kodiak and AACT person unanimously approved the projected merger.

The concern operation values Kodiak astatine a pre-money equity valuation of $2.5bn.

The transaction is expected to supply the combined institution with astir $551m successful currency from AACT’s spot account, assuming nary redemptions.

Institutional investors, including affiliates of Soros Fund Management, ARK Investments, and Ares, person committed implicit $110m successful enactment of the transaction. Existing capitalist ARK Investments has reaffirmed its enactment for Kodiak.

Kodiak laminitis and CEO Burnette said: “We judge entering the nationalist markets volition accelerate our strategy to grow our existing spouse relationships, supply our exertion to a broader lawsuit base, and present enhanced solutions crossed the commercialized trucking and nationalist assemblage industries.”

Subject to shareholder support and different customary closing conditions, the transaction is expected to adjacent successful the 2nd fractional of 2025.

AACT CEO and co-chairman of the committee of directors and co-founder of Ares David Kaplan said: “As an early-mover successful autonomous trucking and archetypal to present a commercialized driverless merchandise to a customer, Kodiak has rapidly acceptable itself isolated arsenic an manufacture person successful a important addressable market.”

"Kodiak Robotics to spell nationalist done merger with AACT" was primitively created and published by Just Auto, a GlobalData owned brand.