Kodiak AI Completes Business Combination with Ares Acquisition
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Kodiak AI has completed a business combination with Ares Acquisition Corporation II, transitioning from a Cayman Islands company to a Delaware corporation. This involved the conversion of securities, issuance of common stock and warrants, and a significant share redemption. The transaction also resulted in changes to Kodiak's board and management, with new appointments and agreements. Kodiak's securities are now trading on Nasdaq, with an average trading volume of 462,941 and a market cap of $454.7M.
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