secwatch.observer — SEC 8-K summary
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Issuer:     Kodiak AI, Inc. (KDK)
CIK:        0001853138
Form:       8-K
Filed at:   2025-09-30T23:59:59+00:00
Accession:  0001193125-25-225299
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 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
LLM model:  deepseek-v4-flash:cloud@v2

Kodiak AI closes merger with Kodiak Robotics; $205M raised in PIPE and preferred
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/0001193125-25-225299-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1853138/000119312525225299/d933659d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-225299

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