Agility Robotics Plans $2.5 Billion SPAC Merger With Churchill Capital Corp XI
Agility Robotics, a maker of humanoid robots designed for warehouse and factory automation, is set to go public through a merger with Churchill Capital Corp XI, according to executives and regulatory filings reviewed by the Wall Street Journal. The transaction values the startup at approximately $2.5 billion on a pre-money basis and will list on the Nasdaq under the ticker symbol AGLT. Churchill Capital Corp XI is managed by Michael Klein, a former Goldman Sachs executive known for using special purpose acquisition companies to take businesses public.
The deal is expected to generate more than $620 million in gross proceeds, including a roughly $200 million private investment in public equity led by contract manufacturer Foxconn. Agility Robotics is backed by Nvidia, Amazon, SoftBank Vision Fund 2, and DCVC, with Nvidia selecting the startup as a launch partner for its Halos physical AI safety system. The company reports it has logged over 65,000 operating hours across nine customer facilities, including deployments at Schaeffler, logistics provider GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. Additionally, Agility stated it has secured more than $300 million in multi-year orders for its next-generation Digit v5 humanoid robot.
From the sources (12 posts)
@firstsquawkAgility, Maker of Humanlike Robots, to Go Public in $2.5 Billion SPAC Deal-wsj
@wsjmarketsAgility Robotics, a startup that makes humanlike robots used in warehouses and plants, is set to go public in a deal valuing it at about $2.5 billion, its executives told The Wall Street Journal
@financialjuiceAgility, Creator of Humanlike Robots, to Go Public in $2.5 Billion SPAC Deal: WSJ
@financialjuiceAgility Robotics to go public through merger with Churchill Capital Corp XI: WSJ
@ftr_investors$CCXI $AGLT Agility Robotics plans to go public through a SPAC merger with Churchill Capital XI, valuing at $2.5B. The company will trade under the ticker AGLT. Agility is best known for its commercial humanoid robot Digit and already has
@reutersAgility Robotics to go public in $2.5 billion SPAC deal, WSJ reports
@techmemeHumanoid robot maker Agility plans to go public via a merger with Michael Klein's SPAC, in a deal valuing it at ~$2.5B and listing under ticker symbol AGLT (@laurenthomas / Wall Street Journal) (Visit Techmeme dot com for the link and full
@wallstengineHumanoid robotics company Agility Robotics is going public through a merger with Churchill Capital Corp XI $CCXI. The deal values Agility at $2.5B pre-money and is expected to generate $620M+ in gross proceeds, including a ~$200M PIPE led
@teortaxestexAlways liked Agility's designs
@wsjExclusive: Agility Robotics, a startup that makes humanlike robots used in warehouses and plants, is set to go public in a deal valuing it at about $2.5 billion, its executives told WSJ
@stocksavvyshayAgility Robotics is going public via $CCXI at a $2.5B valuation and will trade under $AGLT. The Digit humanoid robot maker is backed by $NVDA, $AMZN, SoftBank and Foxconn with Nvidia selecting Agility as the launch partner for its Halos ph
@reutersAgility Robotics to go public in $2.5 billion deal with Michael Klein-backed SPAC