Insider Brief
- Agility Robotics moved closer to a public listing after the SEC declared effective its registration statement for a proposed merger with Churchill Capital Corp XI, with a shareholder vote set for Nov. 2.
- The transaction is expected to provide more than $620 million in gross proceeds, including about $424 million from Churchill XI’s trust account and roughly $200 million from a Foxconn-led PIPE.
- If approved, the deal is expected to close in November and Agility would trade on Nasdaq under the ticker AGLT, with proceeds planned for customer orders, commercial deployments, Digit 5 production and further robotics development.
Agility Robotics moved closer to becoming a publicly traded company after the Securities and Exchange Commission declared effective its registration statement for a proposed merger with Churchill Capital Corp XI.
According to Agility, Churchill XI has scheduled a shareholder meeting for Nov. 2 to vote on the transaction and related matters. If approved and other closing conditions are met, the deal is expected to close in November, with the combined company operating as Agility and trading on Nasdaq under the ticker AGLT.
The transaction is expected to provide more than $620 million in gross proceeds that includes about $424 million held in Churchill XI’s trust account, assuming shareholders do not redeem their shares, along with roughly $200 million from a private investment in public equity, or PIPE, led by Foxconn.
Agility indicated it plans to use the money to fulfill customer orders, expand commercial deployments, increase production of its Digit 5 humanoid and continue developing its robotics, physical AI, software, safety and manufacturing systems.
Agility develops humanoid robots for repetitive and physically demanding industrial work. Earlier versions of Digit have accumulated more than 65,000 hours of real-world operation, according to the company, with deployments and agreements involving Schaeffler, GXO and Toyota Motor Manufacturing Canada.
The company recently introduced Digit 5, its next-generation humanoid, which is expected to enter early access with customers in early 2027. Agility said the robot is backed by more than $300 million in committed orders, subject to contractual milestones and product requirements.
Other developments Agility highlighted ahead of the proposed listing include:
- Toyota agreement: A Robot-as-a-Service deal with Toyota Motor Manufacturing Canada following a pilot, covering manufacturing, supply chain and logistics applications.
- Customer expansion: A goal of growing from more than 30 potential customers to about 100 by the end of 2027, while expanding committed customer facilities from nine to as many as 25.
- Manufacturing capacity: RoboFab in Salem, Oregon, is designed to produce as many as 10,000 robots annually, while a new Fremont, California, site supports hardware and physical AI development.
- Safety partnerships: Nvidia selected Agility as the launch partner for its Halos safety system, while Agility has also expanded work with Fort Robotics on cooperative safety.
Agility also operates Agility Arc, a cloud-based platform for integrating Digit into customer operations and managing robot fleets.
The company claims the combined business is expected to become the only U.S.-listed pure-play humanoid robotics company with active commercial deployments. The merger still requires Churchill XI shareholder approval and satisfaction of other customary closing conditions.
