Agility Robotics expects about $465 million from its SPAC merger, with Nasdaq trading set for November 5

Agility Robotics, the Salem, Oregon-based maker of the Digit humanoid robot, is close to becoming a listed company. In a joint release dated October 30 and filed with the US Securities and Exchange Commission, Agility and the special purpose acquisition company Churchill Capital Corp XI said they expect the merger to bring in gross capital of about $465 million, before transaction costs.

How the $465 million breaks down

According to the release, roughly $164 million is expected to come from Churchill XI's trust account, about $201 million from a private placement (PIPE) of common stock at $10 per share led by Foxconn, and $100 million is equity Agility already received after the deal was announced. The companies give the figure after the deadline for SPAC shareholders to redeem their shares had passed.

That total is lower than the one cited at signing. When the merger was unveiled in June at a $2.5 billion pre-money equity value, Agility and Churchill spoke of more than $620 million in gross proceeds, including around $420 million from the trust, but that number assumed no redemptions. The new release does not state how many shares were redeemed or explain the gap; it only notes that shareholders may still withdraw redemption requests before the vote.

Timeline and listing

Churchill XI shareholders are scheduled to vote at an extraordinary general meeting on November 2. If approved, the companies expect to close on November 4, with the combined company, to be called Agility, starting to trade on Nasdaq under the ticker "AGLT" on or around November 5. Existing Agility shareholders roll their stakes into the new company and face a 180-day lock-up.

The business behind the listing

Agility says its current Digit robots have logged more than 65,000 hours of real-world operation. It unveiled Digit 5 in September, with early-access deliveries planned for the first half of 2027 and general availability targeted for the end of that year. The company reports more than $300 million in committed multi-year orders for the new model, but the release itself stresses that this is potential value tied to milestones, not current revenue. It also cites expansion at logistics customer GXO, a manufacturing pilot with AGCO due in 2027, and a pipeline of over 30 prospective customers.

Named strategic investors include NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler and Foxconn. The completion of the deal still depends on the shareholder vote and customary closing conditions, and the order and revenue figures are the company's own.