Agility Robotics plans to go public via SPAC in a $2.5B deal

Agility Robotics intends to become a public company by merging with Churchill Capital Corp XI in a transaction valued at approximately $2.5 billion. The deal will raise over $620 million through contributions from new and existing institutional investors. This capital is designated for expanding production of the Digit v5 model, fulfilling current orders, and pursuing new commercial clients. The firm currently operates nine sites using its bipedal robots, including facilities for Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. Backing from Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC has supported the company since its formation at Oregon State University in 2015. CEO Peggy Johnson stated that the merger supports broader goals regarding productivity and supply chain resilience. The combined entity will trade under the ticker symbol AGLT on an unannounced North American exchange. The company reports securing more than $300 million in multi-year orders for the next generation of hardware. A pipeline of over 30 potential customers is currently evaluating large-scale deployments of the system.
* Production capacity will increase to meet demand for the Digit v5 model
* More than $300 million in orders have been secured for the new hardware
* Over 30 customers are evaluating large-scale deployment options