Kodiak AI pro forma shows $210.8M loss from SPAC merger adjustments

Kodiak AI, Inc.

$170.6M loss recorded on Preferred Stock and PIPE Warrants with fair value $315.6M exceeding $145M consideration.
$37.0M loss on Non-Redemption Warrants and $3.2M loss on Non-Redemption Shares issued for no consideration.
Business combination closed Sep 24, 2025; Kodiak Robotics became wholly owned sub of Kodiak AI f/k/a AACT.
PIPE investors bought $60M common stock; Preferred investors bought $145M Preferred Stock and PIPE Warrants.
Up to 75M Earn Out Securities and SPAC Sponsor Earn Out Securities vest upon stock price triggers.

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