AACT SEC filings, in plain English
Everything Ares Acquisition Corp II has filed with the SEC that we hold — 40 filings, newest first, 4 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Q2 2026 10-Q of Kodiak AI, Inc. (Nasdaq: KDK), with 200,618,170 shares of common stock outstanding as of July 31, 2026; the registered warrants carry a $9.28 exercise price. Why it matters: This summary is drawn from the cover page and forward-looking note of the report; the financial statements are not covered here.
What changed vs 2026-05-08mandate language changedmandate language, going-concern doubt1 moved · 1 with no prior record of ours
- Mandate language
- We intend to pursue 23 additional long-haul trucking, indust…We intend to pursue 26 Table of Contents additional long-hau…
- Going-concern doubt
- stated · unchanged
The clause …“and lowering growth expectations. These factors in the aggregate raise substantial doubt regarding the Company’s ability to continue as a going concern for at least one year after the filing date of these condensed consolidated”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Kodiak AI (formerly AACT) reported Q2 2026 results: $3.5M revenue (up 91% QoQ), 35 driverless trucks deployed, and $151.1M cash and marketable securities at quarter-end. Q2 free cash flow was negative $38.1M with $34.1M cash used in operations. Why it matters: The deal is closed and Kodiak is now trading as KDK; this filing is a post-deal earnings report with no SPAC-specific mechanics (redemptions, trust, extensions) remaining. Investors should focus on Kodiak's commercial traction and cash burn runway.
What changed: Kodiak AI, Inc., the Ares Acquisition Corporation II successor, made compensation changes on July 1, 2026 after a review by its independent compensation consultant and the Compensation Committee. CEO Don Burnette's base salary rises from $425,000 to $525,000 with a bonus opportunity up to 100% of salary, from 80%. CFO Surajit Datta and COO Michael Wiesinger each move from $400,000 to $450,000. The committee also granted time-based restricted stock units with intended values of $7,000,000, $2,500,000 and $2,500,000, vesting quarterly over four years after a six-month cliff. Why it matters: The equity grants are the number that matters — $12 million of intended value across three executives in a single day, vesting purely on time rather than on performance, so the awards deliver regardless of what the share price does. For former AACT holders that is dilution granted less than a year after the merger closed. The salary increases are modest by comparison; the structure signals a board prioritising retention of the founding team over pay-for-performance alignment.
- What changed vs 2025-11-13mandate language changed
mandate language, going-concern doubt1 moved · 1 with no prior record of ours
- Mandate language
- We intend to pursue additional long-haul trucking, industria…We intend to pursue 23 additional long-haul trucking, indust…
- Going-concern doubt
- stated · unchanged
The clause …“documents could have a material and adverse effect on our business. There is substantial doubt about our ability to continue as a “going concern.” Although our audited financial statements for the years ended December 31, 2025, 2024,”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Kodiak AI, Inc., the successor to Ares Acquisition Corp II, noticed its 2026 annual meeting for June 11, 2026 at 10:00 a.m. Pacific Time by live webcast, record date April 17, 2026. Holders elect two Class I directors to serve until 2029 and ratify Deloitte & Touche LLP for the fiscal year ending December 31, 2026. The proxy discloses that the auditor's report contained an explanatory paragraph regarding substantial doubt about the company's ability to continue as a going concern, with no disagreements from AACT's March 15, 2021 inception through the interim period ended September 24, 2025. Why it matters: A going-concern explanatory paragraph on the first post-closing audit is the material fact: the Ares Acquisition II trust has been released and the surviving company already carries a stated doubt about its ability to fund itself. For holders that means near-term financing is likely and dilution is the expected route, since there is no trust, redemption right or floor left. The compensation committee having met once from closing through year end signals governance still catching up.
What changed vs 2025-04-04going concern APPEAREDgoing-concern doubt, trust account, combination deadline1 moved · 2 with no prior record of ours
- Going-concern doubt
- not statedstated
- Trust account
- $555.6Mnot matched in this filing
- Combination deadline
- 2026-01-26not matched in this filing
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“Company’s financial statements contained an explanatory paragraph regarding substantial doubt about the Company’s ability to continue as a going concern. During the period from March 15, 2021 (AACT’s inception) to December 31, 2024”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.