Kodiak AI Secures $30M Debt Deal with Better Terms

Key Highlights of the Deal

• $30 Million in Debt Financing: A significant boost from previous arrangements.
• Lower Interest Rate: Reduced by 200 basis points, cutting long-term interest payments.
• Extended Maturity Date: From 2026 to 2030, providing more time for business growth.
• Interest-Only Payment Period: From February 2026 to July 2028, easing cash flow management.
• Prepayment Options: Available with a 2% premium in the first 24 months, dropping to 1% afterward.

Strategic Benefits for Kodiak AI

• Strengthened Financial Position: Increased debt capacity and improved liquidity.
• Enhanced Cash Flow Management: Better control over financial obligations.
• Focus on Growth: More resources to invest in business and strategic priorities.

About the Lender

The new debt facility is provided by Horizon Technology Finance Corporation, a specialist in financing venture capital and private equity-backed companies, as well as publicly traded firms across various industries.

Kodiak AI's Vision

Kodiak AI is a leader in AI-powered autonomous driving technology, focusing on challenging sectors like long-haul trucking and industrial transportation. Their technology is designed to be safe, efficient, and reliable, already in use in commercial services.

Conclusion

This new debt deal positions Kodiak AI for continued innovation and growth in the competitive autonomous driving technology market.