Agility Robotics Set to Go Public Through $2.5B SPAC Merger

Agility Robotics, a humanoid robotics firm that originated from Oregon State University in 2015, is set to become a publicly traded entity through a merger with the special purpose acquisition company, Churchill Capital Corp XI. This deal assigns the company a valuation of approximately $2.5 billion.

According to the company, this transaction is anticipated to yield more than $620 million in proceeds, which includes around $200 million from both new and existing institutional investors, the company reported.

Agility is widely recognized for its bipedal robot, Digit, which is currently deployed at nine customer locations, including major firms like Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre.

Having secured investments from prominent tech stakeholders such as Amazon, Nvidia, and SoftBank Vision Fund 2, the company intends to allocate the raised funds from the SPAC merger to boost production capabilities for its next-generation Digit v5, fulfill current orders, and expand its clientele both new and existing.

Agility has reported more than $300 million in multi-year orders for the new version and has identified over 30 potential customers looking into large-scale deployments.

“Humanoid robots are set to be a game changer in enhancing productivity, bolstering supply chain resilience, and establishing American leadership in technology,” stated Agility CEO Peggy Johnson. “With operational humanoids already present in various customer environments, Agility is facilitating businesses in overcoming labor challenges, increasing efficiency, and safely adopting AI-driven automation in their workflows.”

Once the merger is finalized, the newly formed entity is projected to trade under the ticker symbol AGLT on an undisclosed North American stock exchange.