SCHEDULE: Fort Baker Capital Reports 0% Stake in Ares Acquisition II

Fort Baker Capital Management LP and related entities reported a 0% beneficial ownership in Ares Acquisition Corp II following its business combination and name change to Kodiak AI, Inc.

Summary

• Fort Baker Capital Management LP, Steven Patrick Pigott, and Fort Baker Capital, LLC (collectively, the "Reporting Persons") filed an Amendment No. 1 to Schedule 13G.
• The filing reports that the Reporting Persons beneficially own 0 shares, representing 0% of the common stock of Ares Acquisition Corp II.
• This change in ownership is due to a business combination consummated on September 24, 2025, where Ares Acquisition Corp II changed its name to Kodiak AI, Inc.
• In connection with the business combination, each Class A Ordinary Share of Ares Acquisition Corp II was converted into a share of Kodiak AI, Inc. Common Stock on a 1-for-1 basis.
• Following the business combination, the Reporting Persons ceased to be beneficial owners of any Class A Ordinary Shares of Ares Acquisition Corp II.

Sentiment

Score: 5

Explanation: The filing is a factual report of a change in beneficial ownership to 0% following a business combination, carrying a neutral sentiment.

Future Outlook

NA

Industry Context

This filing reflects a standard reporting requirement following a significant corporate event, specifically a SPAC's business combination and subsequent change in beneficial ownership for a former shareholder. It indicates the completion of the de-SPAC transaction for Ares Acquisition Corp II, which is now Kodiak AI, Inc.

Stakeholder Impact

• Shareholders of Ares Acquisition Corp II (now Kodiak AI, Inc.) are informed of the change in beneficial ownership by Fort Baker Capital Management LP and related entities, indicating their exit as shareholders of the original SPAC entity.

Key Dates

Keywords

Ares Acquisition Corp II, Kodiak AI Inc, Fort Baker Capital Management, Steven Patrick Pigott, Schedule 13G, Beneficial Ownership, Business Combination, SPAC