Agility Robotics Expects $465 Million Raise as SPAC Merger Nears Close

Agility Robotics expects about $465 million in gross proceeds from its planned merger with Churchill Capital Corp XI, the companies said in an update. The estimate follows the expiration of Churchill XI's redemption deadline and excludes transaction expenses.

The total includes about $164 million from Churchill XI's trust account, $201 million from a private investment in public equity priced at $10 per share, and $100 million in equity funding already received. Foxconn leads the private investment, with participation from existing and new institutional investors.

Churchill XI shareholders will vote on the transaction on November 2. Subject to approval and other closing conditions, the merger and related financing are expected to close on November 4. The combined company will retain the Agility Robotics name, with shares expected to begin trading on Nasdaq under the symbol AGLT on November 5. Agility says it has more than $300 million in committed multi-year orders for its Digit 5 humanoid, a figure it describes as potential value subject to contractual milestones rather than current revenue.