Churchill Capital Corp XI to Combine With Agility Robotics
The SPAC and humanoid-robotics maker said the combination is expected to create the only U.S. publicly listed pure-play humanoid company with proven, active commercial deployments.
Churchill Capital Corp XI (CCXI) agreed to a mixed-structure business combination with Agility Robotics, with closing expected on November 4, 2026, subject to Churchill XI shareholder approval.
Following the expiration of Churchill XI’s redemption deadline, the companies said Agility’s gross capital raise in connection with the proposed business combination and related financings is expected to be approximately $465 million, before transaction expenses. The raise includes approximately $164 million from Churchill XI’s trust account, approximately $201 million from a common stock PIPE committed at $10 a share led by Foxconn, and $100 million of equity funding already received after the deal was announced.
The transaction is expected to create the only U.S. publicly listed pure-play humanoid robotics company with proven, active commercial deployments, the companies said. Agility is expected to enter the public markets well capitalized to execute planned investments in commercial expansion and support growing customer demand.
Agility, creator of the general-purpose humanoid robot Digit, has been operating the robot in manufacturing, distribution, and logistics environments with enterprises including Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. Earlier generations of Digit have accumulated more than 65,000 hours of real-world operation, the company said, generating proprietary deployment data that informs its physical AI capabilities.
The companies had previously disclosed a $2.5 billion pre-money equity value and more than $620 million of expected gross proceeds, including about $421 million of cash in Churchill XI’s trust account assuming no redemptions and approximately $201 million of incremental common-stock financing. Agility said it intends to use the proceeds to fulfill existing customer orders, expand commercial deployments, scale production of Digit v5, and continue investing in its integrated platform spanning robotics, physical AI, software, safety systems, and manufacturing infrastructure.
Agility is preparing for the commercial launch of Digit v5, which it described as designed to be the world’s first cooperatively safe AI-enabled humanoid robot. The company said it had previously disclosed more than $300 million in committed multi-year orders for Digit 5, a figure it said represents potential multi-year value expected to be realized over time, subject to satisfaction of contractual milestones, product features, and specifications, and does not represent current-period revenue. Strategic investors and partners include NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global.
The joint Form S-4 registration statement was declared effective by the SEC on October 13, 2026. Churchill XI set a November 2, 2026 extraordinary general meeting to approve the business combination and related matters. Upon closing, the combined company is expected to operate as Agility and be listed on a major North American exchange under the ticker symbol AGLT.
One hundred percent of existing Agility shareholders will roll their equity into the combined company, with all shares received by Agility shareholders subject to a lock-up at close. The boards of both companies had unanimously approved the proposed business combination.