Shareholders in Churchill Capital Corp XI (Nasdaq: CCXI) approved the blank-check company’s business combination with humanoid robot maker Agility Robotics on 2 November 2026, with more than 84% of votes cast in favour, clearing the way for a deal expected to deliver about $465m in gross capital before expenses. According to the announcement filed with the SEC, the transaction is expected to close on 4 November 2026, subject to remaining closing conditions, and the combined company is expected to begin trading on Nasdaq on 5 November 2026 under the ticker AGLT, with its warrants listed as AGLTW. At the time of writing, completion of the deal had not been confirmed.
As part of the transaction, Churchill XI will move its domicile from the Cayman Islands to Delaware and will be renamed Agility Robotics, Inc.
Where the $465m comes from
The companies set out the funding in a 30 October filing issued after Churchill XI’s redemption deadline had passed. The total is made up of three parts:
- about $164m from Churchill XI’s trust account;
- about $201m from a common stock PIPE (private investment in public equity) at $10 per share, led by Foxconn with participation from existing Agility stockholders and new institutional investors;
- $100m of equity funding that Agility had already received after the deal was announced.
The amount from the trust is well below the figure first presented. When the merger was announced on 24 June 2026, the parties expected more than $620m in gross proceeds, including about $420m from the trust on the assumption that no shareholders redeemed. Foxconn’s individual commitment in the PIPE was not disclosed.
The June announcement valued Agility at a pre-money equity value of $2.5bn. A pro forma valuation for the combined company was not disclosed in the releases reviewed for this article. Agility’s strategic and institutional backers named by the companies include NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC and Playground Global. All existing Agility shareholders are rolling their equity into the combined company and will be subject to a 180-day lock-up from closing.
The companies said the proceeds will support Agility’s business plan, including commercial expansion and faster deployments with enterprise customers. In June they listed fulfilling existing customer orders, scaling production of the Digit v5 robot and investing in its robotics, physical AI, software, safety and manufacturing platform as uses for the money.
Digit, customers and orders
Agility was established in 2015 by Jonathan Hurst, Damion Shelton and Mikhail Jones out of Oregon State University’s Dynamic Robotics Laboratory. It is headquartered in Salem, Oregon, with offices in Pittsburgh, Pennsylvania and Fremont, California, and is led by chief executive Peggy Johnson. Hurst is co-founder and chief robot officer.
Its main product is Digit, a general-purpose humanoid robot used in manufacturing, distribution and logistics. The company says Digit has logged more than 65,000 hours of real-world operation. In June it named Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre as customers with active deployments across nine customer facilities. The 30 October filing added that GXO is expanding Digit to two more facilities, that an AGCO manufacturing pilot is expected to start in 2027 and that three further manufacturing customers are in paid programmes.
Agility has reported more than $300m in committed multi-year orders for Digit 5, which it unveiled on 15 September 2026. The company stressed that this figure is potential multi-year value subject to contractual milestones and is not current-period revenue. Early-access deliveries are targeted for the first half of 2027, with general availability by the end of 2027. Production takes place at its RoboFab plant in Salem, which is designed to make up to 10,000 robots a year.
“Humanoid robots are a critical driver of American technology leadership and the future of global industry,” Peggy Johnson, chief executive of Agility Robotics, said when the deal was announced.
What to watch next
The companies said the combined business is expected to be the only US publicly listed pure-play humanoid company with proven, active commercial deployments. Investor interest in the category is driven by long-range forecasts such as Morgan Stanley’s estimate that the humanoid market could surpass $5trn by 2050, with more than 1 billion humanoids in use by then. Agility’s management separately puts the US manufacturing, distribution and logistics opportunity at about $1trn.
The filings also list risks: Agility has a history of net losses and a limited operating history, may need more financing, and relies on a concentrated group of customers and strategic partners. The immediate milestones are confirmation of closing, the first day of trading as AGLT on 5 November, and progress on Digit 5 early-access deliveries in 2027.
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