Ropes & Gray Advised Citigroup Global Markets And J.P. Morgan Securities On Ares Acquisition Corporation II’s Business Combination With Kodiak Robotics

Ropes & Gray Advised Citigroup Global Markets And J.P. Morgan Securities On Ares Acquisition Corporation II’s Business Combination With Kodiak Robotics

Ropes & Gray advised Citigroup Global Markets and J.P. Morgan Securities to Ares Acquisition Corporation II (NYSE: AACT) in its proposed business combination with Kodiak Robotics.

The transaction, announced on April 14, 2025

The proposed business combination ascribes a pre-money equity value of $2.5 billion to Kodiak. The combined company is expected to receive approximately $551 million of cash held in AACT's trust account at closing, assuming no redemptions of existing AACT shares and based on trust value per share as of December 31, 2024.

Kodiak Robotics is a provider of AI-powered autonomous vehicle technology.

Ares Acquisition Corporation II is a publicly traded special purpose acquisition company affiliated with Ares Management Corporation (NYSE: ARES).

The Ropes & Gray team was led by Paul Tropp (Partner).

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