09:04 AM EDT, 09/15/2025 (MT Newswires) -- Ares Acquisition Corporation II ( AACT ) , a special purpose acquisition company, and Kodiak Robotics said Monday institutional investors have committed to invest $145 million in a private investment in public equity transaction of convertible preferred stock and common stock warrants to support their proposed business combination.

The two companies have received over $220 million to date in investments and commitments in support for the business combination from institutional investors, they said.

An extraordinary general meeting of shareholders to approve the proposed business combination is scheduled to be held Sept. 23 at 9:00 am ET.

If the business combination closes successfully, the new company intends to list its common stock and public warrants on the Nasdaq Stock Market under the proposed symbols "KDK" and "KDKRW," respectively, the two companies said.