Kodiak AI (KDK) Proxy Filing summary

Executive summary

• Sponsor will make monthly deposits of $0.02 per outstanding Class A ordinary share (excluding those held by the sponsor) into the trust account, in exchange for a non-interest bearing, unsecured promissory note, contingent on shareholder approval of an extension to complete a business combination.

• Shareholders will vote on April 22, 2025, to extend the deadline for consummating a business combination from April 25, 2025, to January 26, 2026.

• Sponsor intends to convert 12,500,000 Class B Ordinary Shares into Class A Ordinary Shares, subject to the same restrictions as before, including transfer restrictions and waiver of redemption rights.

• Forward-looking statements highlight risks related to the proposed business combination with Kodiak Robotics, including regulatory approvals, shareholder votes, and market conditions.

Voting matters and shareholder proposals

• Shareholders are asked to approve an amendment to extend the business combination deadline to January 26, 2026.

• Approval of the extension triggers monthly sponsor contributions and the issuance of a promissory note.

• Shareholders will receive a proxy statement/prospectus for the proposed business combination with Kodiak Robotics.

Board of directors and corporate governance

• Directors and executive officers of both AACT and Kodiak may be deemed participants in the proxy solicitation for the proposed business combination.

• Information on director and officer interests will be disclosed in the proxy statement/prospectus.