---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-237172"
form_type: "8-K/A"
ticker: "KDK"
cik: "0001853138"
company_name: "Kodiak AI, Inc."
filed_at: "2025-10-10T23:59:59+00:00"
generated_at: "2026-05-17T04:06:10.459431+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Kodiak AI updates pro forma; Preferred & PIPE Warrant fair value exceeds consideration by $170.5M

## Summary
- Business combination with AACT closed Sept 24, 2025; Legacy Kodiak holders received ~$2.5B / ~$11.45 per share.
- Preferred PIPE raised $145M for 142,155 preferred shares and warrants for 17.8M shares; initial conversion/exercise price $12.00.
- Preliminary fair values: Preferred Stock ~$229.1M, PIPE Warrants ~$86.4M, total $315.5M vs $145M consideration.
- Excess $170.5M recorded as deemed dividend, reducing retained earnings; accounting as reverse recapitalization.
- Non-Redemption Agreements issued warrants for 7.6M shares and 368k shares of common stock.

## SEC filing metadata
- accession: 0001193125-25-237172
- form_type: 8-K/A
- ticker: KDK
- cik: 0001853138
- company_name: Kodiak AI, Inc.
- filed_at: 2025-10-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1853138/000119312525237172/0001193125-25-237172-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853138/000119312525237172/d58954d8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-237172
- JSON: https://secwatch.observer/filing/0001193125-25-237172.json
- Plain text: https://secwatch.observer/filing/0001193125-25-237172.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.