Agility Robotics Cuts Expected SPAC Raise to $465 Million After Redemptions
By Eugene Demaitre · · TexaHub · Robotics, AI in Industry
Humanoid robot maker Agility Robotics said on Oct. 30 it expects to raise about $465 million through its merger with Churchill Capital Corp XI, down from the more than $620 million projected earlier in October.
Lower Trust Proceeds
Agility Robotics and Churchill Capital Corp XI said on Oct. 30 that Agility's gross capital raise in connection with their proposed business combination is expected to be about $465 million before transaction expenses. The total comprises about $164 million from Churchill XI's trust account, about $201 million from a common stock PIPE committed at $10 per share and led by Foxconn, and $100 million of equity funding already received after the deal was announced. [1]
On Oct. 13 the companies had said they expected more than $620 million, including about $424 million held in the trust account assuming no shareholder redemptions and about $200 million from the Foxconn-led PIPE. [2] The Robot Report noted that the earlier figure was tied to a $2.5 billion valuation. [3]
Closing and Digit 5 Timeline
Churchill XI shareholders are scheduled to vote on Nov. 2, with closing expected on Nov. 4 and Nasdaq trading under the ticker AGLT expected to begin on Nov. 5. Agility said it has more than $300 million in committed multi-year orders for its Digit 5 humanoid, with deliveries to early-access customers planned for the first half of 2027 and general availability targeted for the end of 2027. [1] The company reported $1.8 million in net sales for 2025 in a September SEC filing, according to The Robot Report. [3]
Sources
[1] Agility Robotics and Churchill Capital Corp XI Announce Expected Gross Capital Raise of Approximately $465 Million and Anticipated Closing of Business Combination — Churchill Capital Corp XI, Form 8-K (SEC)
[2] Agility Robotics and Churchill Capital Corp XI S-4 Registration Statement Declared Effective by SEC — Churchill Capital Corp XI, Form 8-K (SEC)
[3] Humanoid developer Agility now expects to raise $465M in SPAC deal — The Robot Report