Funding Announcement for Kodiak Robotics Merger Backed by George Soros Sparks 6% After-Hours Surge in SPAC Stock

Stock Performance: Ares Acquisition Corporation II (AACT) shares increased by 6.42% to $9.45 in after-hours trading following successful fundraising for its merger with Kodiak Robotics, despite a 17.78% decline over the past year.

Funding and Investor Support: The company secured over $212.5 million in PIPE financing from institutional investors, exceeding its initial target, with notable backing from Soros Fund Management and ARK Investments, bringing total funding to over $275 million.

Post-Merger Plans: After the merger, the new entity aims to list on NASDAQ under the ticker symbols "KDK" for common stock and "KDKRW" for warrants, contingent on meeting listing criteria.

Market Overview: AACT's market cap is approximately $549.31 million, with a price-to-earnings ratio of 33.99, and it has experienced a trading range between $8.64 and $11.62 over the past year.