Agility Robotics expects to raise about $465 million in gross proceeds from its merger with Churchill Capital Corp XI, the two companies said Friday, clearing the way for the humanoid robot maker to begin trading on Nasdaq under the ticker AGLT on November 5. The figure was announced after Churchill XI's redemption deadline expired and is before transaction expenses.
The total comes from three pieces. About $164 million is coming from Churchill XI's trust account after shareholder redemptions, about $201 million from a common stock PIPE committed at $10.00 per share and led by Foxconn, and $100 million is equity funding Agility already received after the business combination was announced. The release did not say how many shares were redeemed.
That is below the more than $620 million in gross proceeds the companies outlined in mid-October, a figure that counted about $424 million from the trust and assumed no redemptions. The Foxconn-led PIPE, sized at about $200 million at that point, has held steady. The merger valued Agility at $2.5 billion when it was first announced.
Key facts
- 01Agility Robotics expects about $465 million in gross proceeds from its merger with Churchill Capital Corp XI, before expenses.
- 02The total includes about $164 million from the trust after redemptions, a $201 million Foxconn-led PIPE and $100 million already received.
- 03Churchill XI shareholders vote November 2, with closing expected November 4 and Nasdaq trading as AGLT from November 5.
- 04Agility has disclosed more than $300 million in committed multi-year orders for Digit 5, which is due for general availability at the end of 2027.
- 05Digit has logged more than 65,000 hours of real-world operation, per the company.
Churchill XI has scheduled an extraordinary general meeting for November 2, and the deal is expected to close on November 4, subject to shareholder approval and customary conditions. The SEC declared the joint registration statement effective on October 13. Shareholders who redeemed can still reverse that election before the vote.
All existing Agility shareholders will roll their equity into the combined company and will be subject to a 180-day lock-up at closing. Agility's strategic investors include Nvidia, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC and Playground Global. The company, led by CEO Peggy Johnson, a former Microsoft executive, is based in Salem, Oregon, with offices in Pittsburgh and Fremont, California.
The commercial case rests on Digit 5, which Agility unveiled on September 15 and designed to work safely alongside people across a wider range of industrial workflows. Early-access deliveries are expected in the first half of 2027, with general availability targeted for the end of 2027. Agility has disclosed more than $300 million in committed multi-year orders for Digit 5, which it describes as potential value over time, subject to contractual milestones, rather than current-period revenue.
Agility says Digit has logged more than 65,000 hours of real-world operation. Logistics firm GXO is expanding its deployment to two additional facilities, AGCO has signed a commercial agreement for a manufacturing pilot expected to begin in 2027, and three more manufacturing customers are in paid programs. The company lists more than 30 prospective customers across manufacturing, automotive, aerospace, defense, logistics and consumer products.
On the AI side, Nvidia selected Agility as the launch partner for Nvidia Halos, a full-stack safety system for physical AI and humanoid robots. Agility also runs Agility Arc, a cloud platform for integrating and managing Digit fleets, and its RoboFab plant in Salem is designed to produce up to 10,000 robots a year.
After closing, the combined company will operate as Agility, which the release describes as positioned to be the only U.S. publicly listed pure-play humanoid robotics company.
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