Agility Robotics Plans Nasdaq Listing in $2.5 Billion SPAC Deal

Agility Robotics plans to enter the public markets through a merger with Churchill Capital Corp XI, putting the humanoid-robotics company at a $2.5 billion pre-money equity value and targeting more than $620 million in gross proceeds.

The proposed funding includes approximately $420 million from Churchill’s trust account, assuming no shareholder redemptions, and roughly $200 million from a common-stock private investment in public equity, or PIPE, financing led by Foxconn.

The companies signed the definitive agreement June 24, 2026. The combined company is expected to operate as Agility Robotics and trade on Nasdaq under the proposed ticker AGLT.

The transaction requires approval from Churchill shareholders, review of the registration statement by the Securities and Exchange Commission, other regulatory approvals and approval to list the combined company’s securities. Completion is expected in 2026, subject to the required approvals and listing conditions.

The planned listing would give public-market investors exposure to Agility’s Digit humanoid robots, which are designed for repetitive work in warehouses, distribution centers and factories. Digit robots have accumulated more than 65,000 operating hours across nine customer facilities and are operating with Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre.

Agility had more than $300 million in multi-year Digit v5 orders as of May 2026. The orders cover 1,000 robots under a three-year Robots-as-a-Service contract and remain subject to contractual milestones, so they do not represent current-period revenue.

The company recorded approximately $1.8 million in revenue for 2025 and an operating loss of about $140 million. The humanoid-robot market remains nascent and unproven, while customer adoption, pricing, deployment schedules and the profitability of the Robots-as-a-Service model remain uncertain.

“Humanoid robots are a critical driver of American technology leadership and the future of global industry,” Agility CEO Peggy Johnson said. “We believe humanoids are at a meaningful inflection point in commercial adoption.”

Agility was founded in 2015 by Jonathan Hurst, Damion Shelton and Mikhail Jones out of Oregon State University’s Dynamic Robotics Laboratory. Churchill Chairman and CEO Michael Klein described Agility as “a humanoid first mover with proven technology, real-world deployments, and the trust of some of the world’s most demanding enterprises.”