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AACT shares rose after closing $212.5M in PIPE financing for its merger with autonomous trucking firm Kodiak Robotics.
Ares Acquisition Corporation II (AACT) shares jumped 6.42% in after-hours trading to $9.45 following the successful closure of over $212.5 million in PIPE financing for its planned merger with Kodiak Robotics, an autonomous vehicle technology developer.
The funding, which exceeded the $100 million target and included investments from major institutional investors like Soros Fund Management and ARK Investments, combined with $62.9 million in remaining trust funds, brought total available capital above $275 million.
The strong investor backing reflects confidence in the merger and Kodiak’s autonomous trucking technology, with company leadership highlighting the strategic value of the partnership in advancing transportation innovation.
Las acciones de AACT subieron después de cerrar $ 212.5 millones en financiamiento PIPE para su fusión con la empresa de camiones autónomos Kodiak Robotics.