Agility Robotics SPAC Valued at $2.5 Billion
Agility Robotics SPAC secures more than $620 million including a Foxconn-led PIPE and centers trades on closing risk and capital to scale production.
KEY TAKEAWAYS
- Deal values Agility at $2.5 billion and targets a 2026 close.
- Financing provides more than $620 million in gross proceeds, including a $200 million Foxconn-led PIPE.
- Closing depends on a $200 million minimum available cash condition after redemptions.
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Agility Robotics announced on June 24, 2026, that it will go public through a merger with Churchill Capital Corp XI (NASDAQ: CCXI), valuing the company at $2.5 billion. The transaction is expected to close in 2026, with the financing package and minimum cash condition determining the deal’s completion and the capital available to scale production of its Digit humanoid robot.
Deal Structure and Financing
Agility Robotics and Churchill Capital Corp XI signed a definitive business combination agreement to take Agility public via a special purpose acquisition company (SPAC) merger. Churchill will domesticate to Delaware and be renamed Agility Robotics, Inc., with Agility becoming a wholly owned subsidiary after both boards unanimously approved the transaction.
The deal is expected to generate more than $620 million in gross proceeds, including about $420 million in cash held in Churchill XI’s trust account, assuming no redemptions, and approximately $200 million through a common-stock private investment in public equity (PIPE) at $10 per share. The PIPE is led by Foxconn and includes institutional investors. The transaction sets a minimum available cash requirement of $200 million at closing.
Listing and Governance
The combined company will operate as Agility and list on a major North American exchange under the ticker AGLT. All existing Agility shareholders will roll 100% of their equity into the combined company, with shares subject to a 180-day lock-up following closing. No shareholder cash-outs are planned.
Agility, based in Salem, Oregon, describes itself as a humanoid robotics and physical artificial intelligence (AI) company. Its flagship product, the Digit humanoid robot, is deployed in manufacturing and warehouse facilities, including Amazon.
The company plans to use the transaction proceeds to fulfill existing customer orders, expand commercial deployments of Digit, scale production of Digit v5, and continue investing in its integrated platform of robotics, physical AI software, safety systems, and manufacturing infrastructure.
Closing remains subject to customary conditions, including SEC review and effectiveness of a registration statement on Form S-4, approval by Churchill XI shareholders, clearance by the relevant stock exchange, and required regulatory approvals.
Churchill filed a Form 8-K and a Form 425 on June 24, 2026, and the companies scheduled an investor conference call at 08:30 ET that day to review an investor presentation.
“The Transaction is expected to create ‘the only U.S. publicly listed pure-play humanoid company with proven, active commercial deployments,’” the company said in its June 24 press release.
