Autonomous truck developer Kodiak Robotics announced this week that it will go public via a merger with Ares Acquisition Corporation II AACT 0.09%↑, a special purpose acquisition company (SPAC). The deal values Kodiak at approximately $2.5 billion and is expected to close in the second half of 2025.
The transaction includes more than $110 million in committed capital from institutional investors, including Ares Management, Soros Fund Management, and ARK Investment Management. Kodiak will also gain access to approximately $551 million in cash held in Ares Acquisition Corp. II’s trust, assuming no redemptions.
Following the completion of the merger, the combined company will be named Kodiak and trade on the Nasdaq under a new ticker symbol. The capital infusion will help support Kodiak’s commercial deployment of its autonomous technology, which has already begun limited freight operations with industry partners.
Founded in 2018, Kodiak focuses on using artificial intelligence to develop self-driving systems specifically for long-haul trucking. The company’s technology is designed to improve safety and efficiency while addressing labor shortages in the freight sector. It has completed extensive real-world testing and recently received a large truck order from Atlas Energy Solutions.
Kodiak’s decision to pursue a public listing via SPAC comes as the autonomous vehicle industry seeks fresh capital to scale operations. The company said going public will enhance its ability to grow strategically while continuing to build partnerships with commercial carriers and logistics firms.
