Churchill Capital Corp XI (NASDAQ:CCXI) shares climbed 14% on Wednesday after the special purpose acquisition company announced a definitive agreement to merge with humanoid robotics developer Agility Robotics in a deal that values Agility at a pre-money equity valuation of $2.5 billion.
The transaction is expected to provide substantial funding to support Agility’s commercial expansion and production growth as demand for humanoid robotics continues to increase.
Transaction Expected to Deliver More Than $620 Million
Under the terms of the agreement, Agility is expected to receive more than $620 million in gross proceeds.
The funding package includes approximately $420 million currently held in Churchill XI’s trust account, assuming no shareholder redemptions, as well as roughly $200 million in additional financing through a private investment in public equity (PIPE).
The PIPE financing was priced at $10 per share and was led by Foxconn, with participation from a combination of existing and new institutional investors.
Combined Company to Trade as Agility
Following completion of the transaction, the combined business will operate under the Agility name and is expected to trade on a major North American stock exchange under the ticker symbol “AGLT.”
The merger is anticipated to close during 2026, subject to approval by Churchill XI shareholders, review by the U.S. Securities and Exchange Commission, regulatory clearances and other customary closing requirements.
The boards of directors of both companies have unanimously approved the proposed business combination.
Digit Robot Gains Commercial Traction
Agility Robotics is best known for Digit, its humanoid robot designed for use in manufacturing, logistics and distribution environments.
The company has already deployed Digit with customers including Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre.
According to Agility, the company has secured more than $300 million in multi-year orders for Digit v5, its next-generation humanoid robot platform, subject to certain contractual milestones being achieved.
Digit has accumulated more than 65,000 hours of operational use across nine customer facilities, providing the company with valuable real-world deployment experience.
Strong Backing From Major Technology Investors
Agility has attracted support from a number of prominent technology investors and strategic partners.
Its shareholder base includes DCVC, NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico and Playground Global.
The involvement of these organizations highlights growing confidence in the long-term potential of humanoid robotics and automation technologies.
Capital to Support Production and Expansion
Agility plans to use the proceeds from the transaction to fulfill existing customer commitments, accelerate commercial deployments and increase production capacity for the Digit v5 platform.
The company also intends to continue investing in the development of its robotics platform as it seeks to expand adoption across industrial and logistics markets.
All existing Agility shareholders will roll over their equity holdings into the combined company and will be subject to a 180-day lock-up period following the completion of the merger.
Investors Bet on Humanoid Robotics Growth
The strong share-price reaction reflects growing investor enthusiasm for humanoid robotics, which many industry participants view as one of the next major growth areas within artificial intelligence and automation.
With fresh capital, a growing order book and support from major technology partners, Agility aims to strengthen its position in a rapidly evolving market as businesses increasingly explore the use of humanoid robots to address labor shortages and improve operational efficiency.