Agility lines up $465 million and a November 5 Nasdaq debut
Redemptions cut the SPAC trust to $164 million, but a Foxconn-led PIPE keeps the Digit maker's listing on track for next week.
Agility Robotics and Churchill Capital Corp XI said on October 30 that they expect a gross capital raise of approximately $465 million from their proposed business combination, and set the timetable for the humanoid maker to go public: a shareholder vote on November 2, closing on November 4, and first trading on the Nasdaq under the ticker AGLT on November 5. The companies describe the combined business as the only publicly listed pure-play humanoid robotics company in the United States with active commercial deployments.
The $465 million breaks down into three parts: about $164 million left in Churchill XI's trust account, about $201 million from a common-stock PIPE committed at $10 per share and led by Foxconn, and $100 million of equity funding already received since the combination was announced. The figure is well below the more than $620 million the deal was expected to raise when it was announced in June and when the registration statement was declared effective on October 13. The gap is redemptions: the trust held about $424 million assuming no shareholder redemptions, and the October 30 announcement follows the expiration of the redemption deadline. Existing Agility shareholders will roll all of their equity into the combined company and are subject to a 180-day lock-up after closing.
The listing lands on a run of commercial momentum the companies spelled out on October 26. Agility has expanded its relationship with GXO to deploy Digit at two additional facilities, signed a commercial agreement with AGCO for a manufacturing pilot starting in 2027, and brought three more manufacturing customers into paid programs. Its active pipeline holds more than 30 prospective customers across manufacturing, automotive, aerospace, defense, logistics, and consumer products. Digit 5, unveiled on September 15, is backed by more than $300 million in committed multi-year orders, with deliveries to early-access customers planned for the first half of 2027 and general availability targeted for the end of 2027. Earlier Digit generations have logged more than 65,000 hours of real-world operation.
What to watch now is the vote, then the first weeks of trading. The November 2 shareholder meeting is the last formal hurdle, and the redemption figures show public SPAC holders were far less enthusiastic than the PIPE investors who committed at $10 a share. Once listed, the test shifts from financing to execution: converting the GXO expansion, the AGCO pilot, and the paid programs into repeat orders, and scaling Digit 5 production at RoboFab and the new Pittsburgh facility while holding the safety case that lets the robot work alongside people.