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SPAC · Merger completed

Ares Acquisition Corporation II

Business combination with Kodiak Robotics, Inc.

Ares Acquisition Corporation II is a blank-check company (SPAC) that raised $450M in its initial public offering on Apr 24, 2023, listing on New York Stock Exchange. It completed its business combination with Kodiak Robotics, Inc. on Sep 24, 2025; the combined company is Kodiak AI, Inc. (KDK). Citigroup led the IPO, with UBS. Kirkland & Ellis advised the SPAC and Ropes & Gray advised the underwriters on the IPO.

Status
Merger completed
IPO date
Apr 24, 2023
IPO size
$450M
IPO exchange
New York Stock Exchange
Target
Kodiak Robotics, Inc.
Announced
Apr 16, 2025
Stated deal value
$2.5B
Closed
Sep 24, 2025
Combined company
Kodiak AI, Inc. (KDK)
IPO underwriters
Citigroup and UBS
SPAC counsel (IPO)
Kirkland & Ellis and Maples and Calder
Underwriters' counsel (IPO)
Ropes & Gray

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