Ares Acquisition Corp II reported on September 22, 2025, that it entered into non-redemption agreements with investors to retain over 3 million shares, unlocking new warrants for common stock valued at approximately $12 each post-combination with Kodiak Robotics. This event is significant for investors as it strengthens the company's capital structure amidst the impending merger with Legacy Kodiak, with results indicating potential shareholder dilution.