Agility Robotics Wins SPAC Vote, Set for Nasdaq Debut

Shareholders of blank-cheque company Churchill Capital Corp XI on Monday (Nov 2) approved its merger with Agility Robotics, the US maker of the Digit humanoid robot, clearing the way for the company to list on Nasdaq, Manufacturing Dive reported.

More than 84% of votes cast at the special meeting were in favour of the deal, according to Manufacturing Dive and an official release from the two companies. The transaction values Agility at US$2.5 billion.

US$465 million in proceeds

The deal is expected to bring in gross proceeds of about US$465 million before expenses. That comprises about US$164 million from Churchill XI’s trust account, about US$201 million from a private placement at US$10 per share led by Foxconn, and US$100 million in equity already received after the deal was announced in June.

Manufacturing Dive said the funds leave Agility with minimal or no debt. The companies said the money will go towards fulfilling orders, expanding deployments and scaling production of the latest Digit 5 model.

The merger is expected to close on Wednesday (Nov 4), with shares due to begin trading on Nasdaq on Thursday (Nov 5) under the ticker AGLT and warrants under AGLTW. The combined company will be renamed Agility Robotics, Inc. The release said Agility expects to be the only US-listed pure-play humanoid robotics company with active commercial deployments.

Customers and deployments

Agility, headquartered in Salem, Oregon, has deployments at nine facilities and is targeting 25 by the end of 2027, Manufacturing Dive reported. It has more than 30 prospective customers in manufacturing, automotive, aerospace, defence, logistics and consumer products.

GXO Logistics expanded its use of Digit to two more facilities in October, while Toyota and Schaeffler are also deploying the robot. Farm equipment maker AGCO is due to start a pilot next year. Digit 5, which debuted in September, is expected to become commercially available in 2027.

“Going public will help accelerate our growth,” chief executive Peggy Johnson said, according to Manufacturing Dive.

The report noted that the Trump administration banned some foreign robotics imports over the summer, and last week opted for further trade talks after a 90-day probe into imports of robotics and industrial machinery.

What’s next for Agility Robotics

After the Nasdaq debut on Thursday, Agility’s stated targets are deployments at 25 facilities and 100 customers by the end of 2027, along with the commercial rollout of Digit 5 that year.

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