Kodiak Robotics to Go Public via Merger with Ares Acquisition

Kodiak Robotics, a leader in AI-powered autonomous vehicle technology, is set to become a publicly-listed company through a business combination with Ares Acquisition Corporation II (AACT), a special purpose acquisition company. This merger, announced in a press release, values Kodiak at approximately $2.5 billion.

Kodiak's autonomous platform, known for logging over 2.6 million autonomous miles, is designed to handle challenging trucking jobs. The company has secured a commitment from Atlas Energy Solutions for an initial order of 100 trucks, highlighting its strong customer traction. Kodiak's Driver-as-a-Service model generates recurring revenue through operations in the Permian Basin and other U.S. locations.

The merger is expected to close in the second half of 2025, subject to shareholder approval and customary closing conditions. Upon completion, the combined entity will be named Kodiak AI, Inc., with its stock trading under the ticker symbols KDK and KDK WS.