Autonomous trucking startup Kodiak Robotics plans to go public via SPAC, valuing the company at approximately $2.5 billion pre-money. Kodiak has raised around $243 million and secured over $110 million in financing from investors like Soros Fund Management and ARK Investments, alongside $551 million in trust. The deal is expected to close in the second half of 2025. Despite challenges in the self-driving truck sector, Kodiak has begun generating revenue, marking its first commercial launch with Atlas Energy Solutions.

Ares Acquisition Corp II (AACT) announced a Business Combination Agreement with Kodiak Robotics, Inc. on April 14, 2025. The merger involves AACT migrating from the Cayman Islands to Delaware and renaming to Kodiak AI, Inc. The deal includes a $2.5 billion stock consideration and a potential 75 million shares as Earn Out Securities. A $60 million PIPE investment is also part of the transaction. The merger is expected to close in the second half of 2025, pending shareholder approvals and other conditions.

The retired three-star general most recently led the Army's ground autonomy efforts while serving as Deputy Commanding General of the U.S. Army Futures CommandKodiak's Defense Advisory Council will bolster the company's commitment to the deployment of autonomous vehicle technology for national defenseMOUNTAIN VIEW, Calif., Feb. 26, 2025 /PRNewswire/ -- Kodiak Robotics, Inc., a leading autonomous technology developer focused on the trucking and defense industries, today announced that retired U.S. Army Lieutenant General Richard "Ross" Coffman has joined Kodiak as a strategic advisor. In his position at Kodiak, Coffman will advise the company on how to commercialize and deploy its technology for national security. Coffman will also establish and chair Kodiak's new Defense Advisory Council