announced its acquisition of Sunocs LLC this spring The strategic purchase of Sunocs' new grease and silicone manufacturing facility and customer base represents Kodiak's fifth acquisition since 2023 Sunocs' assets amplify Kodiak's sturdy manufacturing platform and product portfolio of high-performance chemicals into the highly technical niche of silicones and greases the acquisition of the Sunocs client base broadens Kodiak's reach into new markets by opening cross-selling opportunities for an already expansive product portfolio Kodiak's growth strategy continues to deliver value to their growing customer base in the steel "We are excited to welcome Sunocs to the Kodiak family," says Kevin Dickey "This acquisition aligns with our strategic growth objectives expanding our presence in key industries and enhancing our ability to deliver innovative groundbreaking solutions for our customers." The acquisition of Sunocs responds to a notorious shortage in grease supply since 2021 With laboratories and manufacturing in four different locations nationwide Kodiak is able to develop new technologies and stay ahead of the curve in what was once an archaic industry "The entrepreneurial culture within the Sunocs team perfectly aligns with Kodiak and the values that have enabled us to succeed Charles Song and his team thrive at what they do because they approach situations with ingenuity fueling innovation through knowledge of customer operations and a passion for solving challenges in industrial operations all over the world." states Mr The innovative use of technology to develop cost effective products that enhance operational efficiency and safety has given Kodiak a clear path for growth as they position themselves as leaders in the market Kodiak has single handedly raised the bar of high performing chemical products across all the industries they serve Having the ability to develop products that respond to the needs of today's economic and safety demands sets Kodiak apart from the mainstream players whose business models and products are quickly becoming anachronistic and obsolete The synergies between Kodiak and Sunocs will unlock new opportunities and place Kodiak as a pioneer in the specialty chemical space Kodiak owns and operates 44 stainless steel glass lined and hastalloy high temperature reactors 50+ temperature controlled bulk storage tanks with 1.25 million gallons of storage Kodiak can now produce over 100 million lbs The landmark acquisition of SUNOCS' world-class facility marks a transformative milestone in the company's growth journey significantly expanding manufacturing and R&D capabilities Kodiak looks forward to continuing to serve its customers and remaining focused on accelerating innovation and delivering value across North America and beyond minority owned specialty chemical company headquartered in Cincinnati and southernadhesivesandcoatings.com for more information Contact: E: [email protected] Oil & Energy Utilities Chemical Chemical Do not sell or share my personal information: a handful of earthquakes rumbled throughout Kodiak Archipelago communities According to the Alaska Earthquake Center two separate 4.5 magnitude earthquakes occurred within 45 miles of Kodiak on Thursday and Friday Dozens of residents reported feeling the 4.5-magnitude earthquake that hit 43 miles east of Kodiak at 7:14 a.m according to social media posts and the center's report page Those quakes were among nearly a dozen that struck around Kodiak Island within the past week. But Alaska as a whole has reported 10,365 earthquakes so far this year, according to the center a seismologist and seismic data manager with the center said the recent series of earthquakes is not anything out of the ordinary I wouldn't say these are cause for concern," McFarlin said "In the moment they can be startling and that's expected we're one of the most seismically active states in the country McFarlin said the center expects earthquakes to continue around Kodiak Island where Earth's Pacific plate is subducting underneath the North American plate McFarlin said consecutive 4.5-magnitude earthquakes two days could be tremors ahead of a bigger temblor But scientists don't yet have the means to predict earthquakes it's a very low chance but this could be foreshocks to something Aside from the two 4.5-magnitude earthquakes, a 3.3 shook 12 miles south of Larsen Bay early Friday morning followed by a 2.5 in the same area Saturday evening and then a 2.1 on Sunday 19 miles northwest of Port Lions The center also recorded a 1.6-magnitude earthquake 5 miles west of Karluk just before 1 a.m McFarlin asks that anyone who feels an earthquake around Kodiak Island share that information on the center's website by filling out a "Did You Feel It?" report Kodiak Sciences showcases promising pipeline progress with seven ARVO presentations highlighted by positive early data for KSI-101 in macular edema The press release from Kodiak Sciences highlights their upcoming scientific presence at ARVO 2025 with seven presentations across three strategic areas a bispecific protein for macular edema secondary to inflammation (MESI) shows encouraging early clinical signals from the Phase 1b APEX study where it "rapidly normalizes macular edema and improves vision" across all dose levels Though specific efficacy metrics aren't provided this represents tangible clinical progress The company's preclinical pipeline includes KSI-102 a novel bispecific antibody targeting both TNF-α and IL-6 for inflammatory ocular diseases with data suggesting superior performance to monotherapy approaches in normalizing endothelial function Their geographic atrophy program combines complement inhibition with anti-VEGF and anti-IL-6 approaches to potentially address multiple disease pathways simultaneously What's particularly interesting is Kodiak's Antibody Biopolymer Conjugate Drug (ABCD) platform technology which enables higher drug-antibody ratios than traditional approaches capable of delivering diverse therapeutic payloads including oligonucleotides and peptides with targeted cellular delivery This technology extension could potentially address limitations in current antibody-drug conjugate approaches While most programs remain in research or preclinical stages the breadth of development activities suggests a methodical approach to building a differentiated ophthalmology pipeline leveraging their proprietary technology platforms Kodiak targets significant unmet needs in ocular diseases with novel bispecific antibodies that could improve upon steroid-dependent standard treatments Kodiak's research portfolio addresses substantial unmet needs in ophthalmology Ocular inflammatory disease (uveitis) represents the fourth leading cause of vision loss among working-aged adults in developed countries with approximately one-third of these patients developing macular edema—the primary cause of vision loss in this population cause significant adverse effects with prolonged use Their lead candidate KSI-101 (in Phase 1b) targets macular edema secondary to inflammation through a bispecific approach addressing the complex cytokine interactions underlying chronic inflammatory ocular diseases The early clinical data suggesting rapid normalization of macular edema is promising as current treatment options remain limited The preclinical KSI-102 data is particularly interesting from a mechanistic perspective By simultaneously targeting TNF-α and IL-6 this bispecific antibody addresses complementary inflammatory pathways Their data showing improved normalization of endothelial morphology and junctional proteins compared to monotherapies suggests this approach could better preserve the blood-retinal barrier—a central pathophysiological mechanism in inflammatory eye diseases Kodiak's strategy of combining complement inhibition with anti-VEGF and anti-IL-6 is scientifically rational Current approved therapies offer modest benefits and require frequent intravitreal injections A multi-targeted approach could potentially provide more comprehensive disease control while maintaining convenient dosing Their collaboration with Chang Gung Memorial Hospital highlighting differences in pediatric versus adult uveitic macular edema underscores an important clinical distinction often overlooked in therapeutic development a biopharmaceutical company committed to researching developing and commercializing transformative therapeutics to treat high prevalence retinal diseases announced today that seven scientific presentations on its research programs will be made at the Association for Research in Vision and Ophthalmology (ARVO) 2025 Annual Meeting "We are pleased to share new data from Kodiak's research and development efforts at this year's ARVO meeting This body of work further highlights the power and versatility of Kodiak's ABC® (Antibody Biopolymer Conjugate) platform for the design and development of new medicines for complex multifactorial diseases with a high unmet need," said Dr the basis for KSI-101 currently in clinical development for macular edema secondary to inflammation (MESI) is fueling two new research programs in two new therapeutic categories: ocular inflammatory disease and geographic atrophy We also present new data from our ABC® platform extension in which we embed diverse therapeutic payloads into the biopolymer backbone at a high drug-antibody ratio (DAR) and deliver these payloads into targeted cells We believe this is a promising strategy to power a next generation of targeted multi-specific and multi-modality therapeutic candidates with relevance for retinal and systemic diseases." The seven poster presentations are listed below The posters will also be made available under Kodiak's "Scientific Presentations" page on kodiak.com Ocular Inflammatory DiseaseOcular inflammatory disease is the fourth leading cause of vision loss for working aged adults in the developed world One-third of patients with ocular inflammation develop macular edema which is the leading cause of vision loss among patients with ocular inflammation Steroids remain the mainstay treatment but can cause significant and permanent ocular adverse effects especially with long-term use or high doses This body of work demonstrates Kodiak's strong protein engineering expertise to design innovative therapies including KSI-101 (currently in Phase 1b) and KSI-102 by targeting the underlying and complex cytokine interactions underlying chronic inflammatory ocular diseases Title: Development of Anti-inflammatory Bispecific anti-TNF-α VHH anti-IL-6 Antibody Fusion for the Treatment of Inflammatory Retinal Diseases  cytokines and growth factors Presentation Date and Time: May 4 2025; 8:00 – 9:45 AM (MT) Presentation Type: Poster Session Poster Number: 195-A0416 Elevated levels of pro-inflammatory cytokines such as tumor necrosis factor-alpha (TNF-α) and interleukin-6 (IL-6) play distinct yet complementary roles in driving inflammatory retinal diseases such as non-infectious uveitis Treatments targeting these cytokines individually may fail to control inflammation in a comprehensive manner Here we present preclinical data of KSI-102 a novel bispecific antibody that potently inhibits both TNF-α and IL-6 simultaneously offering enhanced therapeutic potential for inflammatory ocular diseases Title: Preserving Endothelial Barrier Function with Novel Bispecific Anti-Inflammatory Agents for the Treatment of Retinal Inflammatory Diseases 2025; 8:00 – 9:45 AM (MT) Presentation Type: Poster Session Poster Number: 196-A0417 Inflammation contributes to ocular disease by triggering a cascade of pathological events including disruption of the blood-retinal-barrier and recruitment of immune cells to retinal tissues These processes can lead to edema and tissue damage which are hallmark features of conditions such as macular edema and uveitis Adalimumab is an anti-TNF-α biologic approved as a steroid-sparing agent for the treatment of non-infectious uveitis (NIU) more than 50% of patients with NIU experienced treatment failure over 85 weeks in the VISUAL I trial This preclinical presentation demonstrates that Kodiak's anti-TNF-α anti-IL-6 fusion protein normalizes human endothelial morphology and junctional proteins better than monotherapy agents Title: Ocular Toxicity Study of KSI-101 Demonstrates Tolerability after Intravitreal Administration in Cynomolgus Monkeys and toxicityPresentation Date and Time: May 8 2025; 11:45 AM – 1:30 PM (MT) Presentation Type: Poster Session Poster Number: 5998-A0183 high-strength bispecific protein in clinical development for the treatment of macular edema secondary to inflammation (MESI) Early clinical data of KSI-101 in the Phase 1b APEX study KSI-101 rapidly normalizes macular edema and improves vision To inform and support further clinical development of KSI-101 which has demonstrated a positive safety profile in patients here we demonstrate that repeated bilateral intravitreal administration of KSI-101 in non-human primates was safe and well tolerated The following poster was developed in collaboration with Chang Gung Memorial Hospital Title: Systemic Review of Uveitic Macular Edema (UME) Outcomes in Children Versus Adults Session Title: Uveitis Epidemiology and Clinical CharacterizationPresentation Date and Time: May 6 2025; 8:30-10:15 AM (MT)Presentation Type: Poster SessionPoster Number: 2849-A0142 Macular edema secondary to inflammation affects adults and children inflammation patterns and clinical presentations and steroids are generally avoided in children due to serious adverse effects This study highlights the serious impact UME in particular has on vision and underscores the critical need for dedicated research and the development of safe and effective therapies tailored for pediatric UME the advanced form of dry age-related macular degeneration affects approximately one million patients in the U.S and is characterized by atrophic lesions in the retina that progressively expand to the central macular and fovea Currently there are two approved therapies for GA both are anti-complement therapies that offer modest therapeutic benefit and require monthly or every other month intravitreal injections Title: Development of Potent Bispecific Inhibitors Targeting Complement Activation and Cytokines for the Treatment of Geographic Atrophy (GA) and mechanisms of action II Presentation Date and Time: May 7 2025; 10:15 AM – 12:00 PM (MT) Presentation Type: Poster Session Poster Number: 4337-A0493 Here we present new data on a promising therapeutic strategy to treat GA by combining complement regulators with an anti-VEGF antibody to prevent wet AMD conversion and anti-IL-6 antibody to further reduce GA progression to achieve potent concurrent inhibition of complement pathway activation and VEGF pathway signaling Enhancing Therapeutic Efficacy with the ABCD Platform Antibody Drug Conjugates (ADCs) and Antibody Oligonucleotide Conjugates (AOCs) are promising platforms for targeted drug delivery but have a limited drug-antibody ratio (DAR) which poses significant challenges in optimizing therapeutic efficacy Kodiak's Antibody Biopolymer Conjugate Drug (ABCD) platform addresses this limitation by utilizing a customizable biopolymer to enable the design and development of multifunctional high DAR therapeutics for ophthalmic and systemic applications Title: Delivery of Therapeutic Oligonucleotides by Antibody Biopolymer Conjugates (ABC®) and mechanisms of action II Presentation Date and Time: May 7 2025; 10:15 AM – 12:00 PM (MT) Presentation Type: Poster Session Poster Number: 4334-A0490 Here we demonstrate the intracellular drug delivery capability and target knockdown potency of Antibody Biopolymer Conjugate Oligonucleotides (ABCO) in the target cells providing a proof of concept for ABC® mediated intracellular delivery of oligonucleotide therapeutics We demonstrate that (a) anti-TfR1 ABCO maintains high binding affinity to TfR1 (b) the antibody and its conjugates exhibit concentration dependent uptake in HepG2 cells and (c) anti-TfR1 ABCOs with siRNA or ASO effectively modulate target gene expression Title: Effect of Polymer Architecture on Properties of Antibody Biopolymer Conjugates 2025; 10:15 AM – 12:00 PM (MT) Presentation Type: Poster Session Poster Number: 4325-A0481 This study demonstrates how polymer architecture specifically molar mass and number of arms in homopolymers influences conjugate properties and explores the role of structural design These findings guide optimization and further development of biopolymer conjugated therapeutic candidates with Kodiak's ABCD platform Kodiak Sciences (Nasdaq: KOD) is a biopharmaceutical company committed to researching and commercializing transformative therapeutics to treat a broad spectrum of retinal diseases We are focused on bringing new science to the design and manufacture of next generation retinal medicines to prevent and treat the leading causes of blindness globally Our ABC Platform® uses molecular engineering to merge the fields of protein-based and chemistry-based therapies and has been at the core of Kodiak's discovery engine We are developing a portfolio of three clinical programs two of which are late-stage today and derived from our ABC Platform and one which is platform-independent and which we believe can progress rapidly into pivotal studies is a novel anti-VEGF antibody biopolymer conjugate under development for the treatment of high prevalence retinal vascular diseases Tarcocimab is currently being studied in two Phase 3 clinical trials GLOW2 in patients with diabetic retinopathy and DAYBREAK in patients with wet AMD and DAYBREAK is actively enrolling patients KSI-501 is our second investigational medicine VEGF-trap bispecific antibody biopolymer conjugate designed to inhibit both IL-6 mediated inflammation and VEGF-mediated angiogenesis and vascular permeability KSI-501 is being developed for the treatment of high prevalence retinal vascular diseases to address the unmet needs of extended durability and targeting disease biology beyond VEGF for differentiated efficacy The Phase 3 DAYBREAK study of KSI-501 in wet AMD is actively enrolling patients Kodiak is developing KSI-101 for the treatment of retinal inflammatory diseases as currently there are no available intravitreal biologic therapies addressing the spectrum of inflammatory conditions of the retina The Phase 1b APEX study of KSI-101 is actively enrolling patients as a precursor to activating the Phase 2b/3 PEAK and PINNACLE studies in patients with macular edema secondary to inflammation ("MESI") Kodiak is advancing its platform technology to embed small molecules and other active pharmaceutical ingredients ("APIs") into Kodiak's proprietary biopolymer backbone to enable high drug-antibody-ratio ("DAR") medicines The diverse APIs are designed to be released over time to achieve targeted multi-specific and tailored modulation of biological pathways The unique combination of high DAR and tailored therapeutic benefit offers potential for broad application to multifactorial diseases and builds directly from our Antibody Biopolymer Conjugate technology and its 15 years of design We call this platform extension our Antibody Biopolymer Conjugate Drug ("ABCD") Platform because we are extending our platform capabilities to include the conjugation of small molecule drugs and other APIs whereas historically we primarily conjugated biologics such as antibodies ABCD™ and the Kodiak logo are registered trademarks or trademarks of Kodiak Sciences Inc This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 These forward-looking statements are not based on historical fact and include statements regarding: the power and versatility of Kodiak's ABC® platform; the enhanced therapeutic potential of KSI-102 for inflammatory ocular diseases; the potential of KSI-101 for the treatment of MESI; the potential for Kodiak's ABCD platform to enable the design and development of multifunctional high DAR therapeutics for ophthalmic and systemic applications; and the optimization and further development of biopolymer conjugated therapeutic candidates with Kodiak's ABCD platform Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions and include words such as "may," "will," "should," "would," "could," "expect," "plan," "believe," "intend," "pursue," and other similar expressions among others Any forward-looking statements are based on management's current expectations of future events and are subject to risks and uncertainties that could cause actual results to differ materially and adversely from those in or implied by such forward-looking statements but are not limited to: the risk that cessation modification or delay of any of the ongoing clinical studies may occur; the risk that our research and development efforts and our ability to advance our product candidates into later stages of development may fail; the risk that any one or more of our product candidates may not be successfully developed approved or commercialized; the risk that adverse economic conditions may significantly impact our business and operations contract research organizations or others with whom we conduct business; the risk that sufficient capital may not be available as expected to complete the development of any products; as well as the other risks identified in our filings with the Securities and Exchange Commission (SEC) For a discussion of other risks and uncertainties any of which could cause our actual results to differ from those contained in the forward-looking statements see the section entitled "Risk Factors" in our most recent Form 10-K and other important factors in our subsequent filings with the SEC These forward-looking statements speak only as of the date hereof and Kodiak undertakes no obligation to update forward-looking statements and readers are cautioned not to place undue reliance on such forward-looking statements View original content:https://www.prnewswire.com/news-releases/kodiak-sciences-data-at-arvo-2025-highlight-power-and-versatility-of-abc-platform-in-addressing-complex-multifactorial-ocular-diseases-302444839.html Already have an account? Login Please enable JS and disable any ad blocker April 10, 2025 by Alaska Wildlife Troopers are accusing four members of Kodiak’s Fields family as well as their fishing business of allegedly generating $1.17 million in illegal revenue between 2020 and 2024 That’s according to a dispatch from Alaska State Troopers on Tuesday 67 – all of Kodiak – are charged with perjury and lying on fish tickets Duncan and Wallace Fields are also both charged with multiple counts related to fraud Duncan Fields serves on multiple boards, including the Alaska Seafood Marketing Institute and the Kodiak Island Borough School District’s Board of Education Duncan Fields said in a text message that the family and crew have been gifting permits to each other for 30 years He said it “is a common practice in the industry,” and added that he thinks his family has “been singled out to try to set an example.” Fields said that the charges aren’t supported by the facts The charges, however, come after a year-long investigation by Wildlife Troopers, according to the dispatch, after they received a tip in March of 2024 about suspicious fishing permit activity. During the investigation, troopers claim to have found the family was falsely gifting salmon setnet permits to crewmembers and later reclaiming them. Troopers interviewed 21 crewmembers, according to the dispatch, and say there was a coordinated scheme involving family members lying under penalty of perjury as well as defrauding the state and fish buyers. KTOO collaborates with partners across the state to cover important news and to share stories with our audiences Top Alaska stories delivered to your inbox every week Copyright © 2025 KTOO Public Media Tlagóo! We\'re rolling out some improvements to the layout and design of KTOO.org. Read more Kodiak is a pioneering autonomous driving company developing technology to address critical challenges in the transportation industry Kodiak's single-platform automated driving system combines advanced AI-driven software with modular hardware The Kodiak Driver integrates learnings from real-world experience across commercial trucking and public sector applications to continuously improve AI models and increase reliability and efficiency in a wide range of environments Kodiak's platform is designed to enable technology integration with customers' existing operations Driver-as-a-Service solution tailored to customers' needs Kodiak was founded in 2018 by industry veteran with a vision of becoming the trusted world leader in autonomous ground transportation dedicated to commercializing driverless trucking at scale we believe Kodiak became the first company to announce delivery of a driverless trucking product to a customer Kodiak provides differentiated solutions that are demonstrated to make costs more efficient and predictable and enhance safety across the commercial trucking and public sector markets By partnering with AACT and accessing the public markets Kodiak is expected to accelerate its go-to-market strategy that aims to address an estimated $4+ trillion global opportunity "This is a remarkable milestone for the Kodiak team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology," said Burnette "We believe entering the public markets will accelerate our strategy to expand our existing partner relationships provide our technology to a broader customer base and deliver enhanced solutions across the commercial trucking and public sector industries with Kodiak's disciplined approach to capital management along with strategic and financial support from Ares we believe we are well-positioned to execute on our long-term growth plans we are thrilled to be working with Ares and AACT as we continue to drive our mission to create a safer and more efficient future for the trucking industry." "As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer Kodiak has quickly set itself apart as an industry leader in a significant addressable market," said David Kaplan Chief Executive Officer and Co-Chairman of the Board of Directors of AACT and Co-Founder of Ares "We are excited to partner with Don and the Kodiak team as they seek to further capitalize on significant industry tailwinds and deliver value for their stakeholders." position the Company to meet the evolving and growing demands of its customers and communities," said Allyson Satin Chief Operating Officer of AACT and Partner at Ares "We look forward to lending Ares' decades of experience investing and navigating through dynamic market environments in support of Kodiak's long-term goals." The proposed business combination ascribes a pre-money equity value of $2.5 billion to Kodiak The combined company is expected to receive approximately $551 million of cash held in AACT's trust account at closing assuming no redemptions of existing AACT shares and based on trust value per share as of December 31 including affiliates of Soros Fund Management have invested or committed over $110 million to support the transaction existing Kodiak investor ARK Investments has expressed its continued support of the Company The boards of directors of both Kodiak and AACT have unanimously approved the proposed business combination which is expected to close in the second half of 2025 subject to approval by AACT and Kodiak stockholders and the satisfaction or waiver of customary closing conditions Upon the closing of the proposed business combination the combined company will be named Kodiak AI and its common stock and public warrants are expected to be listed on a national stock exchange and trade under the ticker symbols KDK and KDK WS subject to approval by the relevant exchange For a summary of the material terms of the transaction, as well as a copy of the business combination agreement and investor presentation, please see the Current Report on Form 8-K to be filed by AACT with the U.S. Securities and Exchange Commission (the "SEC") available at www.sec.gov Additional information about the proposed business combination will be described in the registration statement on Form S-4 relating to the transaction (the "Registration Statement") which AACT and Kodiak will file with the SEC Kodiak and AACT will host a joint investor presentation to discuss the proposed business combination. To listen to the webcast or a replay of the presentation, please visit the Kodiak Investor Relations website at kodiak.ai/investors Morgan Securities LLC are serving as capital markets advisors to AACT Kirkland & Ellis LLP is serving as legal advisor to AACT Ropes & Gray LLP is acting as legal advisor to the capital markets advisors Chardan and TD Cowen are acting as Financial and Capital Markets advisors to Kodiak LLP is serving as legal advisor to TD Cowen The Blueshirt Group is serving as investor relations advisors for Kodiak was founded in 2018 and has become a leader in autonomous ground transportation committed to a safer and more efficient future for all The company has developed an artificial intelligence (AI) powered technology stack purpose-built for commercial trucking and the public sector The company delivers freight daily for its customers across the southern United States using its autonomous technology Kodiak became the first known company to publicly announce delivering a driverless semi-truck to a customer Kodiak is also leveraging its commercial self-driving software to develop test and deploy autonomous capabilities for the U.S About Ares Acquisition Corporation II Ares Acquisition Corporation II (NYSE: AACT) is a special purpose acquisition company affiliated with Ares Management Corporation formed for the purpose of effecting a merger reorganization or similar business combination This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 These include AACT's or Kodiak's or their management teams' expectations intentions or strategies regarding the future Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "potential," "budget," "may," "will," "could," "should," "continue" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters statements regarding Kodiak's and AACT's expectations with respect to future performance the addressable market for Kodiak's products Kodiak's operational and product roadmap and its ability to produce its products at a commercial level the competitive and regulatory landscape for Kodiak's products the capitalization of AACT after giving effect to the proposed business combination between AACT and Kodiak (the "proposed business combination") and expectations with respect to the future performance and the success of the combined company following the consummation of the proposed business combination (the "combined company") These statements are based on various assumptions whether or not identified in this press release and on the current expectations of Kodiak's and AACT's management and are not predictions of actual performance These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied upon by any investors as a prediction or a definitive statement of fact or probability Actual events and circumstances are difficult or impossible to predict and will differ from assumptions Many actual events and circumstances are beyond the control of Kodiak and AACT These forward-looking statements are subject to a number of risks and uncertainties political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination including the risk that any regulatory approvals are not obtained Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Kodiak AACT or the combined company resulting from the proposed business combination with the SEC including under the heading "Risk Factors." If any of these risks materialize or any assumptions prove incorrect actual results could differ materially from the results implied by these forward-looking statements There may be additional risks that neither Kodiak nor AACT presently know or that Kodiak and AACT currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by investors as a guarantee forward-looking statements reflect Kodiak's and AACT's expectations plans or forecasts of future events and views as of the date they are made Kodiak and AACT anticipate that subsequent events and developments will cause Kodiak's and AACT's assessments to change while Kodiak and AACT may elect to update these forward-looking statements at some point in the future Kodiak and AACT specifically disclaim any obligation to do so These forward-looking statements should not be relied upon as representing Kodiak's or AACT's assessments as of any date subsequent to the date they are made undue reliance should not be placed upon the forward-looking statements nor any of their respective affiliates have any obligation to update these forward-looking statements other than as required by law this press release contains certain information about the historical performance of Kodiak You should not view information related to the past performance of Kodiak as indicative of future results Certain information set forth in this press release includes estimates and targets and involves significant elements of subjective judgment and analysis No representations are made as to the accuracy of such estimates or targets or that all assumptions relating to such estimates or targets have been considered or stated or that such estimates or targets will be realized Additional Information and Where to Find It can be obtained free of charge from AACT upon written request to Ares Acquisition Corporation II or that may be accessed through the websites referenced in this press release is not incorporated by reference into Kodiak and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of AACT in connection with the proposed business combination Security holders may obtain more detailed information regarding the names affiliations and interests of certain of AACT's executive officers and directors in the solicitation by reading AACT's final prospectus related to its initial public offering filed with the SEC on April 24 which will become available after the Registration Statement has been declared effective by the SEC and other relevant materials filed with the SEC in connection with the proposed business combination when they become available Information concerning the interests of AACT's participants in the solicitation be different from those of AACT's shareholders generally will be set forth in the preliminary proxy statement/prospectus included in the Registration Statement This press release shall not constitute a solicitation of any proxy consent or approval in any jurisdiction in connection with the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of AACT Kodiak or the combined company resulting from the proposed business combination nor shall there be any sale of any such securities in any state or jurisdiction in which such offer or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act This press release is restricted by law; it is not intended for distribution to any jurisdiction in where such distribution or use would be contrary to local law or regulation Kodiak Media RelationsDaniel GoffDirector of External Affairs+1 646-515-3933[email protected] Stacy MorrisPR Consultant+1 310-415-9188[email protected] Kodiak Investor RelationsLauren SloaneThe Blueshirt Group for Kodiak[email protected] Ares Media RelationsJacob Silber[email protected] Ares Investor RelationsCarl Drake and Greg Mason+1 888-818-5298[email protected] a leading autonomous technology developer focused on the trucking and defense industries a leading developer of crewed and uncrewed military ground vehicles Artificial Intelligence Computer Software Computer Software Computer & Electronics arrested a Philippine national in Kodiak last week according to a Thursday social media post from the agency the family declined to comment and asked for privacy so KMXT is not publishing his name KMXT could not confirm his immigration status or if this was the only arrest made during the agency's visit to the island Both Alaska State Troopers and Kodiak police say ICE did not request any assistance for the arrest said that's normal when federal agents plan arrests on the island "There are times they might need a patrol car to transport somebody," he said they take care of all their logistics – so to speak – the paperwork and conducting the arrests." ICE presence is unusual for Kodiak though, and comes as the Trump administration has ramped up deportation activities The agency also arrested a Mexican citizen in Sitka according to another post on X last month ICE posted on X that the Kodiak man was picked up over a previous conviction for sexual assault of a minor he pleaded guilty after felony charges were filed in 2017 He was also a minor at the time and was in compliance with terms of his release per court records when he was picked up by ICE an Anchorage-based attorney and expert on immigration law said it's hard to get exact information about his particular case But she said individuals picked up in these circumstances still have a right to a hearing with a judge and hire an attorney Serious crimes are still a deportable offense even for legal immigrants when somebody gets charged with a crime in Alaska after they finish their criminal case and they get out of criminal custody at that point immigration steps in and tries to do the immigration court case – which is a civil matter," Stock said The man is currently being detained at the Anchorage Correctional Complex Kodiak Island Borough School District is facing a massive budget shortfall this year – about $8 million “We just have not been able to keep up with inflation,” said the district's superintendent every public school system is desperately in need of funding boost.” Mika and the district’s Board of Education have already made drastic decisions like closing North Star Elementary school and cutting vacant positions Those reductions have made up about $3 million of the shortfall the board decided at its meeting on April 21 to use $4.9 million of its fund balance But using that much would leave a projected fund balance of just $96,000 for emergencies It’s leaving the district in a dangerous position The budget passed by the board still relies on the state government passing some kind of increase to its education funding formula – the Base Student Allocation Mika said they need at least $340 per student to make this work That budget also relies on the Kodiak Island Borough increasing how much it funds the district by about $600,000 as well it wouldn’t have any cushion to make up a deficit next year A bill to permanently increase education funding by $1,000 per student did pass the Alaska Legislature earlier this year, but it was vetoed by Governor Mike Dunleavy “I don’t think any of us were surprised that it got vetoed,” Mika said “The governor from the get-go was not a fan of just a straight BSA (increase) without what he considers to be policy changes.” The majority of legislators voted to override the governor’s veto last week but it wasn’t enough to meet the supermajority of 40 votes needed to overturn it The bill would have been the first time the state permanently increased education funding since 2017 except for a small increase for the Alaska Reads Act in 2022 The Legislature would need to pass a $1,808 increase to keep up with inflation dating back to 2011 Mika said the district will still need to make cuts next year we’re going to have to make reductions unless the state comes through,” she said She said lawmakers would need to pass a $1,200 BSA increase for the district just to stabilize its finances it will need to take even more drastic cuts in the coming years The Kodiak Island Borough Assembly will decide whether to approve the district’s funding request by May 29 The developer of autonomous truck technology has agreed to merge with Ares Acquisition Corp Kodiak cites that strong customer traction — as well as a $4 trillion global market opportunity — among its top ways to create value for investors The company also compares itself to competitor Aurora which has logged just as many autonomous miles “As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer Kodiak has quickly set itself apart as an industry leader in a significant addressable market,” said David Kaplan CEO and co-chairman of the board of directors of AACT and co-founder of Ares In addition to new public market investors the combined company anticipates a $551 million cash infusion from Ares Management Corp. such as Soros Fund Management and Ark Investments have also committed $110 million in additional funding SPAC deals have been volatile in recent years Following a pandemic-era resurgence, SPACs launched between 2019 and 2020 reported 35% year-over-year losses, according to Investopedia. While SPACs have generally underperformed in the market, there was an increase in IPO activity last year with $9.6 billion in gross proceeds Kodiak outlined more than 50 risk factors for potential investors including its net losses and limited operating history While specifics are not available about its net losses Kodiak noted that it has a $20 million quarterly cash burn The company is expected to release a registration statement soon which will include more details about its existing and future business model Get the free daily newsletter read by industry experts Rates went up across all modes for the week of April 20 with reefer volumes buoyed by a pick-up in produce season The logistics giant nearly halved overall truck and trailer expenditures last quarter Want to share a company announcement with your peers The free newsletter covering the top industry headlines Wells Fargo & Company MN boosted its position in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 102.3% during the fourth quarter according to the company in its most recent filing with the Securities & Exchange Commission The fund owned 19,035 shares of the company's stock after acquiring an additional 9,624 shares during the period Wells Fargo & Company MN's holdings in Kodiak Gas Services were worth $777,000 at the end of the most recent reporting period A number of other hedge funds also recently bought and sold shares of the business GAMMA Investing LLC raised its holdings in shares of Kodiak Gas Services by 94.7% during the fourth quarter GAMMA Investing LLC now owns 703 shares of the company's stock valued at $29,000 after purchasing an additional 342 shares during the last quarter Amalgamated Bank lifted its stake in shares of Kodiak Gas Services by 112.6% during the 4th quarter Amalgamated Bank now owns 1,110 shares of the company's stock valued at $45,000 after buying an additional 588 shares in the last quarter Transcendent Capital Group LLC purchased a new position in Kodiak Gas Services in the 4th quarter worth approximately $49,000 Mendota Financial Group LLC purchased a new position in Kodiak Gas Services during the fourth quarter valued at $122,000 Virtu Financial LLC purchased a new position in shares of Kodiak Gas Services during the fourth quarter valued at about $222,000 Hedge funds and other institutional investors own 24.95% of the company's stock KGS stock traded down $1.61 during trading on Monday The company had a trading volume of 758,989 shares a current ratio of 1.27 and a debt-to-equity ratio of 1.86 The firm has a market cap of $3.02 billion The firm has a 50-day moving average price of $35.87 and a 200-day moving average price of $39.14 has a 1-year low of $24.84 and a 1-year high of $50.43 Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its earnings results on Wednesday The company reported $0.27 earnings per share for the quarter missing the consensus estimate of $0.42 by ($0.15) Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23% The company had revenue of $309.52 million for the quarter compared to analyst estimates of $323.82 million will post 1.12 earnings per share for the current year The company also recently announced a quarterly dividend May 5th will be issued a dividend of $0.45 per share This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.28% This is a boost from Kodiak Gas Services's previous quarterly dividend of $0.41 Kodiak Gas Services's payout ratio is presently 305.08% KGS has been the subject of a number of analyst reports Mizuho increased their price target on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Monday Barclays dropped their price objective on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday Raymond James restated an "outperform" rating on shares of Kodiak Gas Services in a report on Friday Citigroup boosted their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday Truist Financial raised their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.45 Check Out Our Latest Stock Report on Kodiak Gas Services MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on.. and Kodiak Gas Services wasn't on the list While Kodiak Gas Services currently has a Moderate Buy rating among analysts top-rated analysts believe these five stocks are better buys View The Five Stocks Here Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools A prominent fishing family in Kodiak is at the center of a felony case that’s sending shockwaves through Alaska’s setnet community and raising fresh questions about the enforcement of long-standing permit regulations According to court documents cited by the Alaska Beacon state prosecutors allege that Duncan Fields and members of his family illegally earned more than $1 million through a coordinated scheme involving temporary permit transfers is accused of transferring salmon setnet permits to crew members during the season and then reclaiming them afterward—allegedly to sidestep ownership limits laid out by Alaska’s limited entry system “The charges stem from the gifting of limited entry permits to family and crew something my family and I have done for more than 30 years,” Fields told the Alaska Beacon via text “This is a common practice in the industry and we believe that our family has been singled out to try to set an example with a unique application of existing statutes The charges are not supported by the facts.” The Fields family has been setnetting in Kodiak since 1961 But the state says their longstanding method of seasonal gifting violated a law that prohibits transfers “with any retained right of repossession… or on any condition of requiring a subsequent transfer,” as reported Alaska Wildlife Troopers (AWT) opened the investigation in 2023 after being alerted by the Commercial Fisheries Entry Commission (CFEC) in legislative testimony quotes by the Beacon said the troopers received information about a set gillnet operation “transferring ownership of permits at high frequency and delivering/ selling fish under the names of one or two primary permit holders on behalf of other permit holders.” The revelation triggered broader enforcement efforts especially those regarding fish-pooling practices which have long existed in a legal gray area Louise Stutes (R-Kodiak) responded by pausing House Bill 117 a piece of legislation she introduced that would allow setnetters to pool their catch before delivering it to tenders Stutes emphasized that Fields wasn’t the source of the bill but said his involvement in the controversy made it necessary to “stand down on that bill for now.” each permit holder must deliver their catch separately have said is impractical and routinely ignored on the water Fields previously testified in support of the bill which many setnetters say would align the law with long-established industry practices “It wasn’t Duncan that brought this issue to us but he’s right in the middle of it,” Stutes told the Beacon “So I just feel like it’s better to stand down on that bill for now.” Investigators interviewed 21 crew members who received permit transfers between 2020 and 2023 The investigation also included reviewing fishing documents including crew contracts and permit applications it’s opening up a wider conversation in Alaska’s fishing communities about how well the limited entry system balances regulator intent with real-world practice and whether the line between tradition and violation is as clear as it once seemed “You really have to give CFEC some kudos for catching it what’s going on here?’” Stutes said “It tells me the system does work.” send us your feedback around what we can do to improve this feature or further develop it check it out and let us know what you think via email or on social media Become a Subscriber › You may unsubscribe from our mailing list at any time Diversified Communications | 121 Free Street a leading provider of AI-powered autonomous vehicle technology and Ares Acquisition Corporation II (NYSE: AACT) (AACT) a publicly traded special purpose acquisition company announced they have entered into a definitive business combination agreement through which Kodiak will become a publicly listed company AACT is an affiliate of Ares Management Corporation (NYSE: ARES) Latham & Watkins LLP represents Lincoln International LLC financial advisor to the special committee of the board of directors of AACT in the transaction with a corporate team led by Century City partner Steven Stokdyk “Kodiak is the first company to make autonomous trucking a real business,” founder and CEO Don Burnette said Atlas Energy Solutions is now using its own automated trucks after developing self-driving routes with Kodiak Robotics The energy business, which transports frac sand, has autonomously hauled over 100 loads of proppant on a private, leased road network in the Permian Basin, according to a Jan. 24 news release That means the self-driving vehicles are now able to access a large swath of west Texas and eastern New Mexico resource-rich area is where the companies made their first driverless delivery without a safety driver in May 2024 With the initial delivery of trucks in December Kodiak is turning from development to deployment at scale The AV tech company launched an 18,000-square-foot facility in Odessa “The commercialization of autonomous trucks has been a goal for the industry for many years and it has now come to fruition,” Don Burnette “Kodiak is the first company to make autonomous trucking a real business and this is a major step towards profitability for our company.” Kodiak has begun earning revenue through subscription sales of hardware and software, the company said on a LinkedIn post The shift marks a change from autonomous development to a fully deployed product Kodiak VP Commercialization & GM Transportation Sector Michael Wiesinger said on a podcast at CES with the nonprofit coalition Partners for Automated Vehicle Education By deploying the technology in 24/7 environments, the company is also showing how it can balance drivers’ preferences for more local routes with an AV that handles dirty and dangerous environments in a safe manner, Chief Legal and Policy Officer Jordan Coleman said on another segment of the show, known as PAVEcast Kodiak made its first delivery with its technology and a safety driver onboard in 2019 It’s also been working to finalize its safety case for going driverless on public roads without people in the cab Coast Guard fast response cutters to be homeported in Kodiak is officially ready for duty after its commissioning ceremony there last week Dozens of Coast Guardsmen and civilians dressed in blue military suits blazers and dresses filled rows of temporary seating Thursday inside Air Station Kodiak's main hangar The official commissioning of the cutter John Witherspoon included speeches from Coast Guard top brass including Rear Adm was the first African American to command a medium endurance cutter as well as the first to command both afloat and ashore units His officers often called him "Papa Spoon" and many of them were affectionately referred to as his "Teaspoons." "Captain Witherspoon lived by a simple yet powerful mantra: Learn reminding us each that thoughtful leadership critical thinking and decisive action are the cornerstone of excellence." was one of a few family members in attendance for the ceremony Her and her son Eric were presented with a framed photo of her father John alongside the cutter She said her father included the Coast Guard as part of his family. John G. Witherspoon passed away in 1994 at age of 54 and everybody who put this whole thing together This is a big family and I'm proud to be part of it and it's an honor to be here." This cutter is the first of three to be homeported in Kodiak, replacing 110-foot Island-class patrol boats like the Naushon that was decommissioned last month in Homer Each Sentinel-class vessel is named after individuals Coast Guard leadership deem exemplary Guardsmen and heroes Troy Patterson presented the "long glass" telescope to the roughly 25-member crew which signifies the officer of the deck's authority on the ship and helps set up the vessel's first watch The commissioning ceremony concluded with another Coast Guard tradition – raising the colors Lt. j.g. Katelynn Lane, the John Witherspoon's executive officer, says the operational schedule hasn't been determined yet but the cutter will be patrolling around the Gulf of Alaska Bering Sea-Aleutians and potentially Cook Inlet "And we know that our (area of responsibility) expands or it shrinks just based off of fisheries "We want to be localized in an area where we are supporting the fishermen as best as we can And so it definitely is an ever changing sort of area of operations." The Witherspoon will be focused on fisheries, drug and migrant interdiction, national defense and search and rescue according to Coast Guard leadership. The John Witherspoon is 154 feet in length can travel at a speed of more than 28 knots and has the capacity to remain at sea for longer periods of time than the decommissioned Island-class patrol boats The cutter is set to begin operations in the coming weeks The limited-edition oatmeal comes packed with protein and prebiotic fiber today launched a new Apple Brown Sugar Pecan Oatmeal expanding the brand's lineup of breakfast options 100% whole grain oatmeal will fuel consumers for an adventure-filled day Boasting 14 grams of protein and packed full of some of Zac's favorites including chia seeds the oatmeal goes beyond the typical breakfast to ensure every consumer is fueled to live epic days and wilder lives with the unique addition of prebiotic fiber the new protein-packed product provides breakfast eaters with the perfect option to achieve any nutrition-based new year's goals Each box comes with six packets of instant oatmeal - just add water and microwave or steep in hot water to enjoy "We are so excited to be launching this limited-edition Apple Brown Sugar Pecan Oatmeal with Zac," said Cory Bayers "Packed with protein and nutrient-dense ingredients this oatmeal inspires consumers to get out and live epic adventures in the great outdoors It also ties back to one of our core values of giving back ensuring today's youth enjoys tomorrow's wild places." Not only does the oatmeal come packed with nutritious ingredients it also supports Kodiak's Keep It Wild initiatives A portion of each box sold is donated to non-profit organizations that seek to conserve and protect wildlife and their habitat The more consumers get outside and explore the more they are able to appreciate nature and find the desire to preserve it for future generations "Developing this oatmeal with Kodiak was such a fun experience," said Zac Efron "My goal was to create an oatmeal that's really delicious and really good for you—so with less sugar and more nutritious ingredients And I'm extremely grateful that Kodiak has decided to donate a portion of every sale towards a cause that's important to me—wildlife preservation." The Apple Brown Sugar Oatmeal ($5.98) is available to purchase exclusively at Walmart For more information visit KodiakCakes.com or follow the brand and Zac on social @kodiakcakes Contact:[email protected] announces its latest iteration of its Keep It Wild campaign Food & Beverages Retail New Products & Services The Robot Report By | April 15 Kodiak delivers freight daily for its customers across the southern United States using its autonomous technology yesterday announced that it will be going public via a special-purpose acquisition company The developer of AI-powered autonomous vehicle technology agreed to be acquired by Ares Acquisition Corporation II Kodiak will become a publicly listed company “This is a remarkable milestone for the Kodiak team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology,” stated Burnette “We believe entering the public markets will accelerate our strategy to expand our existing partner relationships and deliver enhanced solutions across the commercial trucking and public-sector industries.” Founded in 2018 by Don Burnette, an industry veteran, Kodiak said it has developed technology to address critical challenges in the transportation industry. These include driver shortages, demands for shorter delivery timelines, and rising costs. The company’s single-platform automated driving system combines advanced artificial intelligence software with modular hardware It claimed that customers can easily integrate its technology with their existing operations “Driver-as-a-Service” system tailored to their needs The Kodiak Driver has logged more than 2.6 million autonomous miles in real-world conditions Kodiak Robotics also said it developed the system for scalability and adaptability to all vehicle types Through its partnership with Atlas Energy Solutions the company said driverless trucks have surpassed 750 hours of commercial driverless operations across West Texas’s Permian Basin without a human driver on board It said it expects to support Atlas in further expanding its fleet in 2025 it secured a firm commitment from Atlas to order an initial 100 trucks Kodiak Robotics tailored its Driver-as-a-Service business model to meet customer needs by charging either a per-truck or a per-mile recurring license fee. Today, the company is earning recurring revenue through its partnership with Atlas and it owns and operates autonomous trucks that generate a fee paid per delivery In addition to Atlas, Kodiak has collaborated with major industry players, including Bridgestone, C.R. England, J.B. Hunt, Martin Brower, and Werner Enterprises. In addition, the U.S. Department of defense has awarded a contract to the company which has received approximately $30 million to adapt its autonomous technology for U.S Kodiak delivered to first driverless trucking product to a customer It added that its systems can bring down costs and enhance safety in the commercial trucking and public-sector markets Kodiak said it expects to accelerate its go-to-market strategy The company won a 2024 RBR50 Robotics Innovation Award for its autonomous test pickup truck for the U.S Kodiak Robotics’ pre-money equity totaled $2.5 billion The combined company will have access to approximately $551 million of cash held in AACT’s trust account at closing This is assuming no redemptions of existing AACT shares and is based on the trust value per share as of Dec Other institutional investors have invested or committed more than $110 million to support the transaction These include affiliates of Soros Fund Management “We believe Kodiak’s scalable technology position the company to meet the evolving and growing demands of its customers and communities,” said Allyson Satin chief operating officer of AACT and a partner at Ares Kodiak said it expects the merger to close in the second half of 2025 It is subject to approval by AACT and Kodiak stockholders and the satisfaction or waiver of customary closing conditions the combined company will be named Kodiak AI Inc Its common stock and public warrants will be listed on a national stock exchange and trade under the ticker symbols KDK and KDK WS Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" This site uses Akismet to reduce spam. Learn how your comment data is processed. Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media Privacy Policy | Advertising | About Us Learn how to describe the purpose of the image (opens in a new tab) Leave empty if the image is purely decorative In the Kodiak Island Borough School District’s conference room, it felt more like a funeral than a school board meeting. Not a single attendee gave public comment until after the board voted to close North Star Elementary “I was one of those students that sat on the floor and was in the opening,” Valerie Lukin recalled. She’s now a teacher at Main Elementary “We opened the doors and lit off the cannon at North Star Elementary and I was in third grade She was one of about a dozen community members who shared public comments near the end of the meeting “It kind of hurts my heart a lot and I just want North Star families and people to know that we are all standing behind them,” she said “Whether we are teaching at Main or North Star or East everybody is going to try to stand behind each other and be strong.” Almost everyone who talked gave similar sentiments The decision comes after the district held four public meetings and opened a survey for people to share their thoughts about school closure Everyone said they didn’t want to close a school. But district officials said it was running out of other ways to make ends meet after years of flat funding from the state government — and closing a school could save the district millions officials said they need a boost to the state’s per-student education funding formula “The state’s inability to increase the BSA for years has led directly to this budget crisis and contributed to a whole lot of other issues we’re facing as a school district and a state,” said Board President Kerry Irons The Alaska Legislature passed a bill in 2024 that would have increased the Base Student Allocation claiming he wanted to see more support for charter schools A spokesperson for the governor did not respond to requests for comment in time for this publication the board and district staff have tossed around ideas of which school it would close Closing Main or North Star was an early possibility — those schools have the fewest classrooms But when Superintendent Cyndy Mika presented her research at a work session she recommended closing North Star or Peterson Irons said they decided to close North Star because it had the fewest students with addresses near the facility as well as the low number of classrooms “Closing a school is obviously a really drastic measure and it’s also a direct result of a budget deficit that can’t be reasonably filled in any other way,” she said the board voted to stratify schools and combine grade levels at the town’s remaining schools all of the town’s kids at a single grade level will go to the same school instead of each school offering Kindergarten through fifth grade Main and East will split into upper and lower elementary schools as part of the shift That means much of the district’s staff will get shuffled around before next school year Danielle Spect is a special education teacher who taught at North Star for 17 years I want to emphasize that this truly needs to be three schools closing and two opening,” she said at the meeting “I support rebranding and ensuring that the treasured traditions of all three schools are incorporated into the restructured schools.” Closing North Star is expected to make up less than half the district’s deficit That means more budget cuts are likely for the schools that aren’t closing Board President Irons asked for space for North Star families to grieve “If you’re from one of those elementary school communities when you think of the changes that lie ahead for you be sensitive to the changes that the North Star community faces,” she said This isn’t the end for the North Star building though The Board of Education also voted to try to keep its gym open The board still needs to present a draft budget to the Borough Assembly later this year Whether deployed in combat in NATO alliance territory on peacekeeping missions far from home or providing assistance at home the engineer corps proves to be a guarantor of combat strength and operational effectiveness in all scenarios they need high-performance and versatile special equipment An out­standing example of the best possible equipment is the Rheinmetall Kodiak Rhein­metall Landsysteme GmbH demonstrated the capabilities and versatility of the Kodiak armoured engineer vehicle at the commanders conference of Polish military engineer corps procurement authorities and industry attended the event at the Ostrowo Krzyckie military training area The AEV 3 Kodiak armoured engineer vehicle is currently the only new armoured engineer vehicle based on the Leopard 2 chassis that has been specially developed for the needs of engineers The well-balanced Leopard 2 chassis with its 1,100 kW drive system offers outstanding mobility Rheinmetall manufactures and sells the AEV 3 Kodiak other users currently supporting their Leopard 2 main battle tanks with the Kodiak Armoured Engineer Vehicle 3 “Kodiak” and the Armoured Recovery Vehicle 3 “Büffel” (Buffalo) include Sweden the Bundeswehr also commissioned Rheinmetall to supply 44 Kodiak armoured engineering vehicles The high degree of modularity and ultimately the convertibility of the Kodiak into an armoured mine clearance system known as the Keiler Next Generation (NG) was also demonstrated in Poland Operational experience from the war in Ukraine shows that fighting with and around obstacles has become increasingly important on the battlefields of the future a new heavily protected and mobile armoured combat support vehicle for quickly opening barriers in combat known as an Armoured Breaching Vehicle (ABV) meets all current tactical requirements and is highly future-proof Rheinmetall offers the customer two procurement options: either the mine clearance add-on kit for the AEV Kodiak is purchased or a customised Keiler NG system is offered separately The way in which the Kodiak can quickly and easily accept the following modular add-on kits of the Keiler NG was demonstrated by means of the exhibition of the add-on parts These include the above-mentioned mine plough the rocket-assisted detonation cord system ‘Plofadder’ a magnetic field duplicator and a mine lane marking system This combination enables the Kodiak/Keiler NG to overcome even deeply laid enemy obstacles the Pearson mine plough can clear mines at a rate of up to 250 metres per minute over loose ground Rheinmetall Denel Munition offers the rocket-assisted detonating cord system Plofadder it can cut a 160-metre-long and nine-metre-wide path through minefields and obstacles the two Plofadder systems alone can clear a minefield up to 250 metres deep The integrated lane marking system shows follow-on forces the cleared lanes the Keiler NG has an integrated crane so that it can carry out retrofitting follow-on supply or tool changes independently both the Kodiak and the Keiler NG carry the ROSY quick-fog protection system and the Natter 12.7 remote-controlled weapon station Contact us said this recent frequency of earthquakes is not anything out of the ordinary I wouldn’t say these are cause for concern," McFarlin said "In the moment they can be startling and that’s expected we’re one of the most seismically active states in the country where the Pacific Plate is subducting underneath the North American Plate in an area referred to as the Aleutian-Alaska Wadati-Benioff Zone McFarlin said sometimes 4.5 magnitude earthquakes two days in a row could be tremors ahead of a bigger earthquake Scientists don’t have the tools to predict earthquakes at this point in time it’s a very low chance but this could be foreshocks to something Aside from the two 4.5 magnitude earthquakes, a 3.3 shook 12 miles south of Larsen Bay early Friday morning on 3:13 a.m. followed by a 2.5 earthquake in the same area Saturday evening at 11:41 p.m on April 26 and then a 2.1 magnitude quake 19 miles northwest of Port Lions on Sunday The Alaska Earthquake Center also recorded a 1.6 magnitude earthquake five miles west of Karluk around 12:59 a.m McFarlin recommends that if anyone feels an earthquake around Kodiak Island that they report that information to the center by going online to earthquake.alaska.edu ShareSaveCommentBETAThis is a BETA experience. opt-out hereInnovationTransportationThe SPAC Is Back — Kodiak Initiates Autonomy Part Deux For TruckingByRichard Bishop Forbes contributors publish independent expert analyses and insights I first rode in a self-driving vehicle in 1991 ShareSaveCommentA Kodiak autonomous truck hauling sand on a private road Trucking autonomy company Kodiak Robotics has announced plans for a SPAC deal set to be consummated in the second half of 2025 A Special Purpose Acquisition Company (SPAC), also known as a “blank check” company, is a company formed to raise capital through an IPO to purchase a company already in operation. In this case, Kodiak will combine with Ares Acquisition Corporation II. AACT is an affiliate of Ares Management Corporation “This is a remarkable milestone for the Kodiak team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology,” said Don Burnette “We believe entering the public markets will accelerate our strategy to expand our existing partner relationships with Kodiak’s disciplined approach to capital management we believe we are well-positioned to execute on our long-term growth plans." The transaction places a pre-money equity value on Kodiak of approximately $2.5 billion with existing Kodiak equity holders rolling 100% of their interests into the combined company New and existing Kodiak institutional investors including Soros Fund Management ARK Investments and Ares have funded or committed over $110 million in financing to support the transaction alongside approximately $551 million of cash held in trust “We are excited to partner with Don and the Kodiak team as they seek to further capitalize on significant industry tailwinds and deliver value for their stakeholders.” position the Company to meet the evolving and growing demands of its customers and communities,” said Allyson Satin “We look forward to lending Ares’ decades of experience investing and navigating through dynamic market environments in support of Kodiak’s long-term goals has committed to an initial 100 truck order current revenue is modest compared to the Kodiak’s cost of operations there is a significant market for off-road freight operations and money to be made as Kodiak scales up their operations and minerals (including sand) as key targets for expansion These gnarly operating environments are challenging for regular trucks and more so for autonomous trucks Kodiak says their commercial SensorPods are engineered for durability in harsh industrial environments Key components are validated against high temperatures and vibration to support reliable performance when conditions get tough Other companies developing and deploying off-road autonomy include Forterra (forestry) and Hexagon (mining) Kodiak survived the truck autonomy shake-out that occurred in recent years Kodiak has been able to develop partnerships and revenue working in long haul trucking as well as the Defense market long haul trucking partners include Werner Their trucks have pulled over 7,000 loads so far with safety drivers behind the wheel There have been no recent statements as to when Kodiak’s long-haul operations will go autonomous and Torc have announced the first autonomous trucks will roll off the assembly line via their respective partners in 2027 Aurora has stated plans to deploy commercial autonomy starting as soon as this month using trucks from their truck manufacturer partners which are up fitted for initial driverless operations For perspective on Kodiak’s move, I had a discussion with Adam Taub, a Partner with Stand Capital “Historically SPACs have been an alternative to going public versus an IPO that have less direct regulatory scrutiny The sponsor goes public through an IPO and then merges with the target The financial disclosures for a merger are more flexible A SPAC is a backdoor way to go public and provides new capital for growth as well as prospective liquidity for early investors,” he said “SPACs have been around for a long time but participated in a euphoric boom/bust back in 2020/2021 when hundreds of companies went public through SPACs and provided rosy and unrealistic projections about their future revenue and profitability,” he noted adding that “Kodiak’s SPAC presentation by contrast has limited commentary on projected (or historical) financials.” The key publicly traded autonomy stock in trucking is Aurora WeRide and Pony.AI have seen a strong reception in the public markets Based on the inititative of Kodiak and Atlas Sands off-road commercial autonomy has “launched.” Scaling is the next step autonomy-watchers are at the edge of their seats looking towards Texas for the launch of Aurora’s driverless trucking operations promised for this month and Waabi have said driverless operations will begin later this year Disclosure: Richard Bishop is an Advisor to and/or an equity holder in the following companies mentioned in this article: Alphabet (Waymo) Kodiak Robotics and Ares Acquisition Corporation II recently entered into a definitive business combination agreement through which Kodiak will become a publicly listed company.  “This is a remarkable milestone for the Kodiak team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology,” Don Burnette “We believe entering the public markets will accelerate our strategy to expand our existing partner relationships with Kodiak’s disciplined approach to capital management we believe we are well-positioned to execute on our long-term growth plans." See also: Kodiak goes commercial: Delivers first RoboTrucks to Atlas Energy’s private fleet Kodiak is an autonomous driving company developing technology to address challenges in the transportation industry Kodiak’s single-platform automated driving system The Kodiak Driver integrates learnings from real-world experience across commercial trucking and public sector applications to continuously improve AI models and increase reliability and efficiency in a range of environments Kodiak’s platform is designed to enable technology integration with customers’ existing operations Driver-as-a-Service solution tailored to customers’ needs “As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer Kodiak has quickly set itself apart as an industry leader in a significant addressable market,” David Kaplan “We are excited to partner with Don and the Kodiak team as they seek to further capitalize on significant industry tailwinds and deliver value for their stakeholders.” Digital Editor Jenna Hume joined FleetOwner in November of 2o23 and previously worked as a writer in the gaming industry She has a bachelor of fine arts degree in creative writing from Truman State University and a master of fine arts degree in writing from Lindenwood University “We don’t have a decade to fundraise,” Harbormaster Dave Johnson told the senator He said a “real” winter storm could destroy an entire float One of the larger floats there could dock up to 28 large boats “That’s just it – nothing is getting cheaper,” Murkowski said to the group The harbormaster also took her to see rusting out pilings holding up both Kodiak’s Pier 2 which is used for large research and fishing boats She said seeing the aging port herself puts everything Kodiak officials tell her into context “I’ve seen the PowerPoints that the city and the mayor have brought back to Washington – the need has been explained to me,” Murkowski said when you’re understanding the impact of what a hard wind storm is going to do – the loss of some of these slips – you can see the need In 2022, Kodiak was the sixth largest fishing port in the country by volume and revenue. Much of the town’s economy relies on waterfront infrastructure. “When it comes to a strong fishing economy, you can’t have it unless you have good infrastructure,” Murkowski said. “And you’ve got the bones of good infrastructure, but it needs to be built out.” The city received about $11 million for the harbor in federal grants last November. Another $10 million was requested for it in the current federal budget year. But it’s unknown if it will come through after the Senate cut almost $16 billion in money earmarked for projects across the country. Murkowski said she’s working on getting those funds reappropriated. New River Building Supply& Lumber Company, Boone, N.C.Kodiak Building PartnersKodiak Building Partners announced Monday that it has acquired North Carolina building materials distributor New River Building Supply & Lumber Company. New River, headquartered in Boone, North Carolina, has served the state’s “High Country” region since 1973. It added a second location in Banner Elk, North Carolina, in 2003. Kodiak officials said the deal would bolster its presence in the growing Southeast market and provide New River’s customers with backing from Kodiak’s national network, resources and expertise. “Kodiak and New River share a commitment to continuous improvement, striving each day to enhance our operations and strengthen support for our customers and communities,” Kodiak CEO Steve Swinney said in the announcement. “Our opportunities for growth with New River and in the Southeast are not done.” “This partnership will ensure our legacy in these North Carolina communities can continue for generations to come,” added New River President Perry Yates. Kodiak Building Partners has acquired New River Building Supply & Lumber Co., with locations in Boone and Banner Elk, N.C. Kodiak Building Partners, Engelewood, Co., a leading building materials distribution company, has acquired New River Building Supply & Lumber Co., a well-respected provider of high-quality building materials, serving North Carolina since 1973. This strategic acquisition strengthens Kodiak’s presence in the developing Southeast market while preserving New River’s long-standing tradition of exceptional service and expertise in the region’s High Country, including Boone and Banner Elk. Following the acquisition, New River Building Supply & Lumber Co. will maintain its commitment to building strong customer relationships with backing from Kodiak’s resources, expertise, and national network that will support strategic growth to meet the increasing demand for building materials in the region. This acquisition marks another step forward in Kodiak’s expansion efforts, reinforcing its dedication to empowering local businesses and enhancing customer experience in key markets. “Partnering with Kodiak makes us a stronger company with access to a wide network of industry knowledge, and additional resources to serve our customers and meet the growing demand for quality building materials in our communities,” said Perry Yates, president of New River Building Supply & Lumber Co. “This partnership will ensure our legacy in these North Carolina communities can continue for generations to come.” For over 50 years, New River Building Supply & Lumber Co. has been the trusted source for professional builders, contractors, and do-it-yourself homeowners, offering a full range of materials for construction and remodeling projects. In addition to a comprehensive selection of top-tier building materials, New River features a dedicated timber & log division, assisting customers in planning and constructing the log homes of their dreams. Founded in 2011, Kodiak Building Partners is a leading acquisition firm specializing in acquiring and supporting locally owned and operated building materials companies. Founded in 1973, New River Building Supply & Lumber Company has been a trusted supplier of high-quality building materials to contractors, professional builders, and homeowners in North Carolina’s High Country. With locations in Boone and Banner Elk, the company offers an extensive range of building products, tools, and a dedicated timber & log division to support custom home projects. LP Building Solutions has expanded its Amazon Storefront to include LP SmartSide ExpertFinish Trim & Siding accessories. Atlas Roofing Corp. has acquired Groupe Expan and its subsidiaries Groupe Isolofoam, Le Groupe Légerlite, and Foam Concept 2000, Canadian manufacturers of expanded polystyrene solutions. US LBM has renamed its Breckenridge and Edwards Building Centers, Gregory Door & Window, and the Colorado locations of Foxworth-Galbriath Lumber as Colorado Building Supply. Jeld-Wen is permanently closing its Chiloquin Doors plant in Chiloquin, Or., eliminating 128 positions. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world according to people with knowledge of the matter A transaction may value the combined entity at about $2 billion all of whom requested anonymity to discuss confidential information The Ares special purpose acquisition company was vying for Kodiak against rival bidders Jeremy Zidek, a spokesman for the state Division of Homeland Security and Emergency Management told Alaska Public Media that includes the size and duration of the eruption and weather factors like wind speed and direction Those factors also play into how long ash could linger This is the kind of information Rich Gonzalez, Kodiak Island’s emergency manager, and other officials from the Alaska Volcano Observatory can’t determine yet “I monitor it every day and folks can do the same thing," Gonzalez said "They can go to the Alaska Volcano [Observatory] webpage and in there is a forecast model that tells you every morning which way the [ash] cloud is predicted to go And again you’ll see that it matches with the weather patterns.” The observatory also maintains color-coded green-to-red alert levels for Mount Spurr that escalate as eruption potential and hazard levels rise Gonzalez said he has been meeting with local emergency services partners including the Coast Guard village public safety officers and Providence Kodiak Island Medical Center “More health issues for people with any type of respiratory problems is where I see most of the effects happening from ashfall that would come this way," he said We would just have to see what happens when it does come.” Residents with respiratory issues are recommended to avoid time outdoors if ashfall is present. Health officials recommend having N95 masks on hand.Gonzalez is asking residents to have enough supplies at home to be able to shelter in place for up to 72 hours that would temporarily halt all commercial flights coming in and out of the island.Also Kodiak’s main water supply would be at risk of contamination But the city maintains millions of gallons of separately stored water which is safe from ashfall told KMXT that the city has two water tanks that can hold enough water to meet the current population’s needs for roughly 30 days Lewis said water conservation measures and boil-water notices could come into play Providence Kodiak Island Medical Center’s communications specialist Laura Mullican said via email that the hospital has prepared itself specifically for volcanic ash events “While our preparedness measures are similar for various incidents we’ve also engaged in specific pre-incident activities tailored to volcanic ash events These include collaborating with vendors and suppliers to ensure multiple weeks' worth of essential supplies maintaining air filtration systems for building intakes and essential vehicles with extra filters on hand refining our response plans to meet potential increased service demand and ongoing coordination with community partners on shared preparedness planning,” she said