secwatch.observer — SEC 8-K summary
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Issuer:     Kodiak AI, Inc. (KDK)
CIK:        0001853138
Form:       8-K
Filed at:   2025-09-15T23:59:59+00:00
Accession:  0001193125-25-202878
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AACT secures $145M Series A Preferred Investment for Kodiak business combination
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- Preferred investors commit $145M for Series A Cumulative Convertible Preferred Stock with 9.99% dividend rate (PIK) or 7.99% cash.
- Each preferred share ($1,200 stated value) convertible at $12.00 per share, subject to anti-dilution and price reset triggers at 6 and 9 months.
- Investors receive PIPE Warrants for 125% of convertible shares; warrants exercisable at $12.00 per share for 6 years.
- Shareholder meeting to approve the business combination scheduled for September 23, 2025.
- Updated sources/uses tables show $155M from PIPE and preferred investment; $562M cash-in-trust under no-redemption scenario.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1853138/000119312525202878/0001193125-25-202878-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1853138/000119312525202878/d945093d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-202878

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