SALEM: Agility Robotics Inc. announced Wednesday it will merge with blank-check company Churchill Capital Corp XI in a deal that values the humanoid robotics firm at $2.5 billion and is expected to create the only U.S. publicly traded pure-play humanoid robotics company.
The combined company would trade on a major North American exchange under the ticker symbol “AGLT” following the close of the transaction, which the companies expect to complete in 2026.
The deal is structured to deliver more than $620 million in gross proceeds to Agility, including $420 million held in Churchill’s trust account — assuming no shareholder redemptions — and roughly $200 million in new financing through a private investment in public equity, or PIPE, committed at $10 per share. Foxconn is leading the PIPE, with participation from existing and new institutional investors.
Agility makes Digit, a bipedal humanoid robot designed for warehouse, manufacturing and logistics work. The company says Digit is currently operating in commercial facilities for customers including Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre, accumulating more than 65,000 hours of operational experience across nine customer sites.
The Oregon-based company has secured more than $300 million in multi-year orders for Digit v5, its next-generation model, which it says is designed to be the first humanoid robot capable of safely working alongside humans without physical separation barriers — a capability the company calls “cooperative safety.”
“Humanoid robots are a critical driver of American technology leadership and the future of global industry,” said Peggy Johnson, Agility’s chief executive. Johnson said management estimates the addressable market for humanoid robots in U.S. manufacturing, distribution and logistics at approximately $1 trillion.
Agility was founded in 2015 by roboticists from Oregon State University and is backed by investors including NVIDIA, Amazon, SoftBank Vision Fund 2, Foxconn and Schaeffler. The company operates RoboFab, a manufacturing facility it says can produce up to 10,000 humanoid robots annually, and sources roughly 75% of Digit’s components domestically.
All existing Agility shareholders will roll their equity into the combined company and are subject to a 180-day lockup following the transaction’s close.
The boards of both companies have unanimously approved the deal. Closing remains subject to Churchill shareholder approval, SEC review and other regulatory conditions.
Citigroup Global Markets Inc. is serving as exclusive capital markets adviser to Churchill. BTIG, LLC is serving as exclusive financial adviser to Agility.
