A
Ares Acquisition Corporation II
Acquirer counsel
Kirkland & Ellis
Monica J. Shilling, P.C.Partner
Walton DumasPartner
Paul D. TroppPartner
2 lawyers involved
Rainmaker
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Kirkland & Ellis advises Ares Acquisition Corporation II on $2.5 billion acquisition of Kodiak Robotics, Inc.
Deal Overview
- Value
- $2.5bn
- Deal type
- M&A
- Structure
- Data in progress
- Status
- Data in progress
Advisors
ACQUIRER
Kirkland & Ellis Overview
- Ares Acquisition Corporation II is a publicly traded special purpose acquisition company listed on the NYSE under AACT and is affiliated with Ares Management Corporation. In this transaction it is taking Kodiak Robotics public through a business combination.
- The deal is structured as a SPAC business combination that assigns Kodiak a pre-money equity value of US$2.5 billion.
- At closing, the combined company is expected to receive about US$551 million from AACT's trust account, assuming no redemptions, and more than US$110 million of additional backing has been invested or committed by institutional investors including affiliates of Soros Fund Management, ARK Investments and Ares.
K
Kodiak Robotics, Inc.
W
Seller counsel
Wilson Sonsini Goodrich & Rosati
Individual advisers not yet recorded
Wilson Sonsini Goodrich & Rosati Overview
- Kodiak Robotics is an AI-powered autonomous vehicle technology company that is going public through a business combination with Ares Acquisition Corporation II, a publicly traded SPAC affiliated with Ares Management. The transaction values Kodiak at a pre-money equity value of US$2.5 billion.
- The financing package includes about US$551 million of cash in AACT's trust account at closing, assuming no redemptions, plus more than US$110 million invested or committed by institutional investors including affiliates of Soros Fund Management, ARK Investments and Ares.
- Closing is targeted for the second half of 2025, subject to approval by both AACT and Kodiak stockholders and customary conditions; after closing, the combined company will be renamed Kodiak AI, Inc. and is expected to trade under the symbols KDK and KDK WS.