Key Takeaways
- • Agility Robotics expects approximately $465 million in gross capital raise in connection with its business combination with Churchill Capital Corp XI, before transaction expenses, according to a joint announcement on October 30, 2026.
- • The $465 million comprises roughly $164 million from Churchill XI's trust account, roughly $201 million from a common stock PIPE priced at $10 per share led by Foxconn, and $100 million of equity Agility has already received.
- • The business combination and PIPE are expected to close November 4, 2026, subject to a Churchill XI extraordinary general meeting on November 2, with Nasdaq trading expected to begin November 5, 2026.
- • Agility has more than $300 million in committed multi-year Digit 5 orders, though the company states this is potential future value and not current-period revenue.
Summary
Agility Robotics, a humanoid robotics company, and Churchill Capital Corp XI, a publicly traded special purpose acquisition company, said in a joint announcement on October 30, 2026, that Agility's gross capital raise tied to their proposed business combination and related financings is expected to be approximately $465 million before transaction expenses. The companies said the figure follows the expiration of Churchill XI's redemption deadline.
The expected raise breaks down into three components. About $164 million is expected to come from Churchill XI's trust account, and approximately $201 million from a common stock PIPE committed at $10 per share, led by Foxconn with participation from existing and new institutional investors. An additional $100 million is equity Agility has already received following the announcement of the business combination. The companies said Agility is expected to enter the public markets well capitalized to pursue commercial expansion and support growing customer demand. The announcement named NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global among Agility's strategic investors and partners.
The transaction is expected to close on November 4, 2026, subject to approval by Churchill XI shareholders at an extraordinary general meeting scheduled for November 2, 2026, and customary closing conditions. The combined company will operate as Agility Robotics, with common stock expected to trade on the Nasdaq Stock Market beginning November 5, 2026. The companies describe the combined entity as the only U.S. publicly listed pure-play humanoid robotics company with proven, active commercial deployments. All existing Agility shareholders will roll their equity into the combined company and face a 180-day lock-up at closing. Shareholders who previously submitted redemption requests may withdraw them before the scheduled vote by written reversal request to Churchill XI's transfer agent, Continental Stock Transfer & Trust Company.
Churchill XI and Agility jointly filed a Form S-4 registration statement with the Securities and Exchange Commission, which the SEC declared effective on October 13, 2026. The registration statement includes a definitive proxy statement and prospectus distributed to shareholders as of the September 14, 2026 record date.
On the commercial side, the announcement recapped updates from October 26, 2026, including an expanded relationship with GXO to deploy Digit at two additional facilities, a commercial agreement with AGCO for a manufacturing pilot expected to begin in 2027, and three additional manufacturing customers in paid programs. Agility cited an active pipeline of more than 30 prospective customers across manufacturing, automotive, aerospace, defense, logistics, and consumer products. Digit 5, unveiled September 15, 2026, is designed to work safely alongside people; Agility said it is on track for early-access deliveries in the first half of 2027, with general availability targeted for the end of 2027. Agility has previously disclosed more than $300 million in committed multi-year orders for Digit 5, which the company says represents potential value realized over time, subject to contractual milestones and product specifications, and not current-period revenue.
The expected raise breaks down into three components. About $164 million is expected to come from Churchill XI's trust account, and approximately $201 million from a common stock PIPE committed at $10 per share, led by Foxconn with participation from existing and new institutional investors. An additional $100 million is equity Agility has already received following the announcement of the business combination. The companies said Agility is expected to enter the public markets well capitalized to pursue commercial expansion and support growing customer demand. The announcement named NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global among Agility's strategic investors and partners.
The transaction is expected to close on November 4, 2026, subject to approval by Churchill XI shareholders at an extraordinary general meeting scheduled for November 2, 2026, and customary closing conditions. The combined company will operate as Agility Robotics, with common stock expected to trade on the Nasdaq Stock Market beginning November 5, 2026. The companies describe the combined entity as the only U.S. publicly listed pure-play humanoid robotics company with proven, active commercial deployments. All existing Agility shareholders will roll their equity into the combined company and face a 180-day lock-up at closing. Shareholders who previously submitted redemption requests may withdraw them before the scheduled vote by written reversal request to Churchill XI's transfer agent, Continental Stock Transfer & Trust Company.
Churchill XI and Agility jointly filed a Form S-4 registration statement with the Securities and Exchange Commission, which the SEC declared effective on October 13, 2026. The registration statement includes a definitive proxy statement and prospectus distributed to shareholders as of the September 14, 2026 record date.
On the commercial side, the announcement recapped updates from October 26, 2026, including an expanded relationship with GXO to deploy Digit at two additional facilities, a commercial agreement with AGCO for a manufacturing pilot expected to begin in 2027, and three additional manufacturing customers in paid programs. Agility cited an active pipeline of more than 30 prospective customers across manufacturing, automotive, aerospace, defense, logistics, and consumer products. Digit 5, unveiled September 15, 2026, is designed to work safely alongside people; Agility said it is on track for early-access deliveries in the first half of 2027, with general availability targeted for the end of 2027. Agility has previously disclosed more than $300 million in committed multi-year orders for Digit 5, which the company says represents potential value realized over time, subject to contractual milestones and product specifications, and not current-period revenue.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.