--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-25-225299" form_type: "8-K" ticker: "KDK" cik: "0001853138" company_name: "Kodiak AI, Inc." filed_at: "2025-09-30T23:59:59+00:00" generated_at: "2026-05-17T05:18:18.102922+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.95 calibrated_materiality_score: 0.95 confidence: "high" source: SEC EDGAR --- # Kodiak AI closes merger with Kodiak Robotics; $205M raised in PIPE and preferred ## Summary - On Sept 24, 2025, Kodiak AI (f/k/a Ares Acquisition II) completed business combination with Kodiak Robotics; common stock began trading on Nasdaq as KDK on Sept 25. - Legacy Kodiak securityholders received 161.8M common shares; up to 75M earnout shares/RSUs tied to stock price thresholds of $18, $23, and $28. - PIPE investors committed $60M at ~$11.45/share; Series A Preferred Investment closed at $145M for 142,155 preferred shares and warrants for 17.8M common shares. - $502.4M redeemed by SPAC shareholders (43.9M shares), leaving $62.9M in trust; combined company funded with $205M in new equity. - Post-closing capitalization: 181.2M common shares, 55.99M exchanged options at $1.88, 25M public warrants, 14.3M private warrants, and 19.2M earnout RSUs. ## SEC filing metadata - accession: 0001193125-25-225299 - form_type: 8-K - ticker: KDK - cik: 0001853138 - company_name: Kodiak AI, Inc. - filed_at: 2025-09-30T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.95 - calibrated_materiality_score: 0.95 - confidence: high - sec_items: 1.01, 2.01, 5.02, 3.02, 9.01, 4.01, 3.01, 3.03, 5.01, 5.03, 5.05, 5.06, 7.01, 8.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/d933659d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-25-225299 - JSON: https://secwatch.observer/filing/0001193125-25-225299.json - Plain text: https://secwatch.observer/filing/0001193125-25-225299.txt ## Key facts - Equity Issuances Kodiak AI, Inc. issued Non-Redemption Shares of common stock. - Security: common stock - Shares: Non-Redemption Shares source text: The Assumed Kodiak Warrants, PIPE Warrants, the Preferred Stock, the PIPE Shares, the Legacy Kodiak Advisor Shares, the Non-Redemption Shares and Non-Redemption Warrants have not been registered under the Securities Act, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Equity Issuances Kodiak AI, Inc. issued preferred stock. - Security: preferred stock source text: The Assumed Kodiak Warrants, PIPE Warrants, the Preferred Stock, the PIPE Shares, the Legacy Kodiak Advisor Shares, the Non-Redemption Shares and Non-Redemption Warrants have not been registered under the Securities Act, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Equity Issuances Kodiak AI, Inc. issued warrant. - Security: warrant source text: The Assumed Kodiak Warrants, PIPE Warrants, the Preferred Stock, the PIPE Shares, the Legacy Kodiak Advisor Shares, the Non-Redemption Shares and Non-Redemption Warrants have not been registered under the Securities Act, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Equity Issuances Kodiak AI, Inc. issued PIPE Shares of common stock. - Security: common stock - Shares: PIPE Shares source text: The Assumed Kodiak Warrants, PIPE Warrants, the Preferred Stock, the PIPE Shares, the Legacy Kodiak Advisor Shares, the Non-Redemption Shares and Non-Redemption Warrants have not been registered under the Securities Act, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Equity Issuances Kodiak AI, Inc. issued common stock. - Security: common stock source text: The Certificate of Incorporation and Bylaws contain material modifications, among others, to the Company’s authorized capital stock, exclusive forum, shareholder voting rights, removal of directors, voting requirements to amend the Certificate of Incorporation and Bylaws. evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Governance Changes Kodiak AI, Inc.: Adopted a new Code of Business Conduct and Ethics (effective 2025-09-24). - Change: code of ethics - Effective: 2025-09-24 source text: on September 24, 2025, the Board considered and adopted a new Code of Business Conduct and Ethics evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Governance Changes Kodiak AI, Inc.: Adopted new bylaws and waived certain lock-up restrictions therein (effective 2025-09-24). - Change: bylaw amendment - Effective: 2025-09-24 source text: the Company adopted a certificate of incorporation and bylaws evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Governance Changes Kodiak AI, Inc.: Adopted new certificate of incorporation in connection with domestication from Cayman Islands to Delaware (effective 2025-09-24). - Change: charter amendment - Effective: 2025-09-24 source text: the Company adopted a certificate of incorporation and bylaws evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm - Governance Changes Kodiak AI, Inc.: Company ceased to be a shell company upon consummation of business combination (effective 2025-09-24). - Change: shell status - Effective: 2025-09-24 source text: the Company ceased to be a shell company (as defined in Rule 12b-2 of the Exchange Act) as of the Closing evidence_url: https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.