Agility Closes SPAC Merger, Set to Debut on Nasdaq as AGLT on November 5
Agility Robotics completed its merger with Churchill Capital Corp XI. Shares start trading on Nasdaq on November 5 under the ticker AGLT.
Agility Robotics has completed its business combination with Churchill Capital Corp XI, the special purpose acquisition company it agreed to merge with in June. The Salem, Oregon company announced the closing on November 4. Shares of the combined company are expected to begin trading on the Nasdaq Stock Market on November 5 under the ticker symbols AGLT for common stock and AGLTW for warrants.
The deal values Agility at USD 2.5 billion before new money, the figure set when the merger was announced in June. The companies expect the transaction and related financings to raise about USD 465 million in gross capital before expenses, an estimate published on October 30 that the closing announcement did not update. The total includes about USD 164 million from Churchill XI's trust account, about USD 201 million from a private placement led by Foxconn at USD 10 per share, and USD 100 million in equity Agility had already received.
Shareholders of Churchill XI approved the merger on November 2, with more than 84 percent of votes cast in favor. All existing Agility shareholders are rolling 100 percent of their equity into the combined company, and their shares, along with those held by the Churchill sponsor, are locked up for 180 days after closing, subject to early release tied to stock price performance. Churchill XI is moving its legal home from the Cayman Islands to Delaware, and the combined company is renamed Agility Robotics, Inc.
Agility says the listing makes it the only U.S. publicly listed pure-play humanoid robotics company with proven, active commercial deployments. Its Digit humanoid works in manufacturing, distribution and logistics for customers including GXO, Schaeffler and Toyota Motor Manufacturing Canada, and the company counts more than 65,000 hours of real-world operation. GXO recently expanded its agreement to put Digit in two more U.S. facilities, with deployments starting in early 2027, and Agility has signed an agreement with AGCO to pilot Digit at a manufacturing plant in Hesston, Kansas, starting in 2027.
The next test is Digit 5, the company's next-generation robot designed to work safely alongside people without fences. Agility says it has secured more than USD 300 million in committed multi-year orders for Digit 5, subject to contractual milestones, and it has built RoboFab, a U.S. factory designed to produce up to 10,000 robots a year, alongside Agility Arc, its cloud software for running robot fleets. Digit 5 is targeted at early-access customers in the first half of 2027.
Trading begins on November 5. As a listed company, Agility will report audited results, giving the industry its clearest view yet of what humanoid deployments actually cost and earn.