Agility Robotics Expects $465 Million Gross Raise Ahead of SPAC Closing

Agility Robotics and Churchill Capital Corp XI said in an October 30, 2026 announcement that, following the expiration of Churchill XI’s redemption deadline, Agility’s gross capital raise in connection with the proposed business combination and related financings is expected to be approximately $465 million, before transaction expenses. Churchill XI is a publicly traded special purpose acquisition company.

The expected gross capital raise consists of approximately $164 million from Churchill XI’s trust account, approximately $201 million from a common stock PIPE committed at $10 per share and led by Foxconn with participation from existing and new institutional investors, and $100 million of equity funding already received following the announcement of the business combination. Agility is expected to enter the public markets well capitalized to execute its planned investments in commercial expansion and support growing customer demand, the companies said.

Closing Timeline and Shareholder Terms

Subject to approval by Churchill XI shareholders at an extraordinary general meeting scheduled for November 2, 2026, and the satisfaction of customary closing conditions, the business combination and related PIPE financing are expected to close on November 4, 2026. Following closing, the combined company will operate as Agility Robotics, and its common stock is expected to begin trading on the Nasdaq Stock Market on November 5, 2026. Agility has already named three directors for the combined company’s post-closing board.

Churchill XI and Agility jointly filed a registration statement on Form S-4 with the Securities and Exchange Commission, which the SEC declared effective on October 13, 2026, and which includes a definitive proxy statement/prospectus. The definitive proxy statement and other relevant documents were distributed to Agility stockholders and Churchill XI shareholders as of September 14, 2026, the record date established for voting on the proposed transaction.

Shareholders who previously submitted redemption requests may withdraw them at any time before the scheduled vote by submitting a written request to Churchill XI’s transfer agent, Continental Stock Transfer & Trust Company. The request must include the legal name, phone number, and address of the beneficial owner of the shares and the number or percentage of shares for which reversal is requested. Shareholders holding in street name must instruct the account executive at their bank or broker to request the reversal at the transfer agent.

All existing Agility shareholders will roll their equity into the combined company and will be subject to a 180-day lock-up at closing. Agility’s strategic investors and partners include NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global. The companies said the transaction is expected to create “the only U.S. publicly listed pure-play humanoid robotics company with proven, active commercial deployments.”

Customer Pipeline and Digit 5 Orders

The announcement pointed to recent commercial momentum detailed in Agility’s October 26, 2026 commercial update. GXO announced a new commercial agreement to deploy Digit at two additional U.S. facilities, in Statesville, North Carolina, and Lebanon, Tennessee, with deployments expected to begin in early 2027 using Digit 4 and plans to transition to Digit 5 as it becomes commercially available. According to Agility, Digit has moved more than 100,000 totes at GXO’s Georgia facility under a multi-year commercial agreement that began in June 2024, which the company describes as the first formal commercial deployment of a humanoid robot in live operations.

Beyond GXO, Agility reported that three additional manufacturing customers are participating in paid programs focused on specific manufacturing needs: a major global automaker that sold more than three million vehicles annually worldwide, one of the world’s largest developers of automotive technology and components, and a leading global consumer products manufacturer. The three customers have chosen not to be identified publicly. AGCO announced a commercial agreement with Agility on October 20, 2026, for a Digit pilot at its Hesston, Kansas, production facility, expected to begin in 2027. Agility’s other named enterprise relationships include Toyota Motor (TM ) Manufacturing Canada, which signed a commercial agreement following a pilot; Schaeffler, which is deploying Digit in automotive manufacturing operations and is also an Agility investor; and Mercado Libre, which Agility identifies as Latin America’s largest e-commerce company.

Agility said it is engaged with more than 30 prospective customers through active commercial discussions or participation in its Customer Acceleration Program, which enables customers to evaluate Digit against specific operational requirements, validate potential applications, and prepare for broader commercial deployments. The pipeline spans manufacturing, automotive, aerospace, defense, logistics, and consumer products, and includes two potential subcontractor engagements supporting a branch of the U.S. Armed Services; the company said those discussions are at an early stage and no agreements have been signed.

Digit 5, unveiled on September 15, 2026, is designed to work safely alongside people and to support a broader range of industrial workflows. Agility said deliveries to early-access customers are on track for the first half of 2027, with general availability targeted for the end of 2027. The company has previously disclosed more than $300 million in committed multi-year orders for Digit 5, a figure it states represents potential multi-year value expected to be realized over time, subject to satisfaction of contractual milestones, product features, and specifications, and does not represent current-period revenue.

Agility manufactures its robots at RoboFab, a 70,000-square-foot facility in Salem, Oregon, designed for annual production capacity of up to 10,000 robots, and operates Agility Arc, a cloud-based platform for managing robot fleets and integrating them into customer operations. The company recently announced an expansion in Pittsburgh. Agility Robotics is headquartered in Salem, Oregon, with offices in Pittsburgh, Pennsylvania, and Fremont, California, and states that Digit has logged more than 65,000 hours of real-world operation.