Ares Acquisition Corp II completes $500M IPO and $14.3M private placement

Kodiak AI, Inc.

Consummated IPO of 50M units at $10.00 each, including 5M over-allotment units, for gross proceeds of $500M.
Concurrent private placement of 14.3M warrants to Sponsor at $1.00 each, raising $14.3M.
Sponsor extended $5M overfunding loan (non-interest) to the Company.
Total $505M deposited into trust account ($10.10 per public share) for benefit of public shareholders.
Audited balance sheet shows $3.4M cash outside trust, $505M in trust, and $19.1M accumulated deficit.

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