Kodiak AI Announces Refinancing of Senior Debt Facility

• New, elevated $30M debt facility reduces rate of interest by 200 foundation factors, and extends debt maturity from 2026 to 2030
• New financing additional extends Kodiak’s money runway, enabling the Firm to extra successfully ship on its strategic priorities
• Transaction strengthens Kodiak’s liquidity place and offers enhanced monetary flexibility

MOUNTAIN VIEW, Calif., Dec. 31, 2025 (GLOBE NEWSWIRE) — Kodiak AI, Inc. (“Kodiak” or the “Firm”) (Nasdaq: KDK), a number one supplier of AI-powered autonomous driving expertise, in the present day introduced the completion of the institution of a brand new debt facility with Horizon Expertise Finance Company (the “Lender”) (Nasdaq: HRZN) as famous in a Type 8-Okay that was filed in the present day with the SEC. In comparison with Kodiak’s earlier debt facility, the phrases of the brand new facility present further capital, decrease rates of interest by 200 foundation factors, prolong maturity, and cut back money outflow and can present Kodiak with improved liquidity and elevated flexibility to function and scale its enterprise.

“The favorable phrases of our debt facility will enable us to attain a number of key goals for our firm and our shareholders,” mentioned Don Burnette, Founder and CEO, Kodiak. “This strengthens the Firm’s monetary place by rising debt capability, decreasing the rate of interest, eliminating near-term principal funds, and lengthening the debt maturity. Total, these adjustments lead to lowered near-term money outflows, improved liquidity, and enhanced potential to execute on strategic priorities. The transaction additionally displays Horizon’s continued confidence in Kodiak’s enterprise mannequin and efficiency.”

The enterprise mortgage and safety settlement (the “Mortgage Settlement”) offers for a senior secured time period mortgage facility in an mixture principal quantity of as much as $30.0 million (collectively, the “Time period Loans”), all of which was drawn on the closing.

Borrowings below the Mortgage Settlement accrue curiosity at a fee equal to the prime fee plus 3.50% with the prime fee having a flooring of 6.50%. The Time period Loans are repayable in month-to-month interest-only funds from February 1, 2026 till July 1, 2028 (the “Curiosity-Solely Cost Interval”). After the expiration of the Curiosity-Solely Cost Interval, starting on August 1, 2028, the Time period Loans shall be repayable in 18 equal month-to-month funds of principal and accrued curiosity till maturity. The Time period Loans will mature on January 1, 2030 (the “Maturity Date”).

On the Debtors’ possibility, the Debtors might prepay the entire excellent Time period Loans, topic to a prepayment premium equal to (a) 2.0% of the Time period Loans being pay as you go if the prepayment happens throughout the 24 months following the Closing Date; and (b) 1.0% of the Time period Loans being pay as you go if the prepayment happens after the 24 month anniversary of the Closing Date.

For extra particulars on the phrases and circumstances of the Mortgage Settlement please discuss with the Type 8-Okay that was filed with the SEC and is on the market at https://investors.kodiak.ai/.

Ahead Wanting Statements

This press launch consists of “forward-looking statements” inside the which means of Part 27A of the Securities Act of 1933, Part 21E of the Securities Change Act of 1934, and the “secure harbor” provisions of the USA Personal Securities Litigation Reform Act of 1995, every as amended, together with Kodiak’s expectations regarding its future monetary place and enterprise technique and plans. Ahead-looking statements could also be identified by way of phrases resembling “anticipate,” “imagine,” “proceed,” “might,” “estimate,” “forecast,” “intend,” “anticipate,” “might,” “plan,” “potential,” “undertaking,” “search,” “ought to,” “will,” “would” and related expressions that predict or point out future occasions or developments or that aren’t statements of historic issues, however the absence of those phrases doesn’t imply {that a} assertion isn’t forward-looking. These forward-looking statements embrace, however usually are not restricted to, statements relating to: Kodiak’s expectations regarding its future monetary place and enterprise technique and plans. These statements are based mostly on varied assumptions, whether or not or not identified on this press launch, and on the present expectations of Kodiak’s administration and usually are not predictions of precise efficiency. These forward-looking statements usually are not meant to function, and should not be relied upon by any buyers as, a assure, an assurance, a prediction or a definitive assertion of reality or chance. Precise occasions and circumstances are difficult or unimaginable to foretell and can differ from assumptions. Many precise occasions and circumstances are past the management of Kodiak. These forward-looking statements are topic to various dangers and uncertainties, together with adjustments in enterprise, market, financial, political and authorized circumstances; the fast evolution of autonomous automobile expertise and flaws or errors in Kodiak’s options or flaws in or misuse of autonomous automobile expertise generally; dangers associated to the rollout of Kodiak’s enterprise and the timing of anticipated enterprise milestones; the consequences of competitors on Kodiak’s enterprise; provide shortages within the supplies vital for the manufacturing of the Kodiak Driver; dangers associated to working with third-party producers for key parts of the Kodiak Driver; dangers associated to the retrofitting of Kodiak’s autos by third events; the termination or suspension of any of Kodiak’s contracts or the discount in counterparty spending; delays in Kodiak’s operational roadmap with key companions and prospects; and Kodiak’s potential to boost capital sooner or later. Extra data regarding these and different elements which will affect such forward-looking statements may be present in filings by Kodiak with the Securities and Change Fee (the “SEC”), which can be found on the SEC’s web site at http://www.sec.gov. If any of those dangers materialize or any assumptions show incorrect, precise outcomes might differ materially from the outcomes implied by these forward-looking statements. There could also be further dangers that Kodiak might not presently know or that Kodiak at the moment believes are immaterial that would additionally trigger precise outcomes to vary from these contained within the forward-looking statements. As well as, forward-looking statements replicate Kodiak’s expectations, plans or forecasts of future occasions and views as of the date of this press launch. These forward-looking statements shouldn’t be relied upon as representing Kodiak’s assessments as of any date subsequent to the date of this press launch. Accordingly, undue reliance shouldn’t be positioned upon the forward-looking statements. Besides as required by legislation, Kodiak particularly disclaims any obligation to replace any forward-looking statements.

About Kodiak AI, Inc.
Kodiak AI, Inc. (Nasdaq: KDK) was based in 2018 and is a number one supplier of AI-powered autonomous automobile expertise that’s designed to assist sort out a number of the hardest driving jobs. Kodiak’s driverless answer will help deal with the vital drawback of safely transporting items within the face of unprecedented provide chain challenges. Kodiak’s imaginative and prescient is to grow to be the trusted world chief in autonomous floor transportation. Kodiak is dedicated to a safer and extra environment friendly future for all by way of the commercialization of driverless trucking at scale. To that finish, Kodiak developed the Kodiak Driver, a digital driver that mixes superior AI-powered software program with modular and vehicle-agnostic {hardware} designed to assist deal with Kodiak’s prospects’ wants. The Kodiak Driver isn’t just an concept—it’s working and not using a human driver in the present day. Kodiak serves prospects within the industrial trucking and long-haul trucking industries. In 2024, Kodiak believes it achieved a historic milestone by changing into the primary firm to deploy customer-owned and -operated driverless vans in industrial service. The Kodiak Driver can also be being utilized within the protection sector, the place Kodiak believes it may well assist nationwide safety initiatives and significant authorities functions.

For extra details about Kodiak, please go to https://kodiak.ai/investors. Kodiak’s press equipment with movies and pictures may be discovered HERE.

About Horizon Expertise Finance

Horizon Expertise Finance Company (Nasdaq: HRZN), externally managed by Horizon Expertise Finance Administration LLC, an affiliate of Monroe Capital, is a number one specialty finance firm that gives capital within the type of secured loans to enterprise capital and personal equity-backed firms and publicly traded firms within the expertise, life science, healthcare data and companies, and sustainability industries. The funding goal of Horizon is to maximise its funding portfolio’s return by producing present revenue from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional workplace in Pleasanton, California, and funding professionals positioned all through the U.S. Monroe Capital is a premier asset administration agency specializing in personal credit score markets throughout varied methods, together with direct lending, expertise finance, enterprise debt, opportunistic, structured credit score, actual property and fairness. To be taught extra, please go to horizontechfinance.com.

Contacts

Kodiak Media Relations
Daniel Goff
VP of Exterior Affairs
+1 646-515-3933
dan@kodiak.ai

Stacy Morris
Futurista Communications for Kodiak
+1 310-415-9188
stacy.morris@futuristacommunications.com

Kodiak Investor Relations
Lauren Sloane
The Blueshirt Group for Kodiak
Lauren@blueshirtgroup.com