Agility Robotics has announced a merger agreement with Churchill Capital Corp XI that values the humanoid robotics company at $2.5 billion.
The deal is expected to take Agility public on a major North American exchange under the ticker symbol AGLT, pending shareholder approval and SEC review.
The transaction is structured as a SPAC merger with Churchill Capital Corp XI, whose sponsor Michael Klein is one of the most active blank-check dealmakers in recent years.
Klein previously brought companies including nuclear-power startup Oklo and electric vehicle manufacturer Lucid to market through the same vehicle, according to the Wall Street Journal.
Foxconn, the Taiwan-based electronics contract manufacturer that already holds a stake in Agility, is leading a PIPE investment as part of the deal’s financing structure.
Combined with the $420 million sitting in Churchill XI’s trust account, assuming no redemptions, total gross proceeds are expected to exceed $620 million.
Agility’s flagship product, Digit, is a general-purpose humanoid robot designed to operate in manufacturing, distribution, and logistics environments.
The company said Digit has accumulated more than 65,000 hours of operation across nine customer facilities, with active deployments at Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre.
Agility has also secured more than $300 million in multi-year orders for Digit v5, a next-generation model built to work alongside people in shared environments rather than segregated spaces.
The company counts Amazon, Nvidia, SoftBank Vision Fund 2, Foxconn, and DCVC among its backers, reflecting broad institutional confidence in the humanoid robotics sector.
All existing Agility shareholders will roll their equity into the combined company and will be subject to a 180-day lockup period upon close.
The transaction is expected to close in 2026, subject to standard regulatory and shareholder approval conditions.
