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George Soros, Cathie Wood-Backed Autonomous Trucking Firm Kodiak Robotics Set To Go Public Via SPAC Merger To Tap $4 Trillion Market

Benzinga LogoBenzinga2w ago

George Soros, Cathie Wood-Backed Autonomous Trucking Firm Kodiak Robotics Set To Go Public Via SPAC Merger To Tap $4 Trillion Market - Benzinga

Quick Summary:

Kodiak Robotics, a U.S.-based autonomous trucking startup, will go public following its announcement on Monday of a merger with Ares Acquisition Corporation II (NYSE:AACT), a Special Purpose Acquisition Company (SPAC).

The company says it will receive about $551 million in cash held by Ares, and has announced commitments of $110 million from Ares, Soros Fund Management, founded by George Soros, and ARK Investments, led by CEO Cathie Wood.

What happened: In an official statement, the company, which has logged over 2.6 million autonomous driving miles in ‘real-world conditions,’ announced its intention to go public.

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George Soros, Cathie Wood-Backed Autonomous Trucking Firm Kodiak Robotics Set To Go Public Via SPAC Merger To Tap $4 Trillion Market - Benzinga (Picture 1)

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Article Details

Author / Journalist: Badar Shaikh

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-15 @ 11:25:20 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Readers: 52 people read this story

Article Length: 427 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 27918188

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 5 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #53

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  • URL: https://marketchangers.beamstart.com/news/george-soros-cathie-wood-backed-17447166214604

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