Agility Robotics, a US-based humanoid robotics company, has entered into a definitive agreement to merge with Churchill Capital Corp XI, a publicly traded special purpose acquisition company (SPAC).
The business combination values Agility Robotics at a pre-money equity value of $2.5bn. The combined entity is expected to operate as Agility and list its shares under the ticker symbol “AGLT” on a major North American exchange.
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Both companies’ boards of directors have unanimously approved the proposed agreement.
The transaction, which remains subject to Churchill’s shareholder approval, regulatory clearance, stock exchange listing authorisation, and satisfaction of other customary closing conditions, is anticipated to close in 2026.
If completed, the merger is expected to provide more than $620m of gross proceeds to Agility Robotics.
This includes $420m held in Churchill’s trust account, assuming no redemptions. It also comprises an additional $200m of new financing through a private investment in public equity (PIPE) placement led by Foxconn at $10 per share, with participation from existing and new institutional investors.
Agility Robotics, which was established in 2015 out of Oregon State University’s Dynamic Robotics Laboratory, develops humanoid robots for workforce automation.
The company’s main product, Digit, is currently deployed across manufacturing, logistics, and distribution sites. It has been used for more than 65,000 operational hours serving enterprise customers such as Schaeffler, Toyota Motor Manufacturing Canada, GXO, and Mercado Libre.
The business combination is projected to create what Agility Robotics describes as the first US publicly listed pure-play humanoid robotics firm with active commercial deployments.
Churchill chairman and CEO Michael Klein said: “Churchill Capital is proud to partner with companies that are shaping the future of technology and commerce. Agility is a humanoid first mover with proven technology, real-world deployments, and the trust of some of the world’s most demanding enterprises.”
Agility states it has secured more than $300m in multi-year orders for its next-generation Digit v5 robot, pending the achievement of certain contractual milestones, with over 30 customers identified in its pipeline.
The company also notes that all current Agility shareholders will retain their equity in the combined business and be subject to a 180-day lock-up following the transaction’s close.
Agility, supported by investors including DCVC, Amazon, Nvidia, and SoftBank Vision Fund 2, has established a manufacturing and supply chain platform within the US, sourcing around 75% of Digit components domestically.
Agility’s leadership includes CEO Peggy Johnson, co-founder and chief robot officer Jonathan Hurst, and a team with a stated combined total of more than 80 years of commercial leadership and over 50 years in technical robotics.
Johnson said: “Humanoid robots are a critical driver of American technology leadership and the future of global industry.
“With category-defining commercially deployed humanoid robots operating in real customer environments today, Agility is at the forefront of a new era where safety-first, AI-powered technology can reliably work alongside people to bridge labour shortages, increase productivity, and strengthen the resilience of our supply chains.”
In April 2025, Agility announced that it is nearing completion of a $400m funding round to speed up large-scale production of its autonomous bipedal warehouse robots.
