Agility Robotics to go public in $2.5 billion SPAC deal

Agility Robotics said it will go public through a merger with Churchill Capital Corp. XI in a deal that values the humanoid-robot maker at about $2.5 billion.

The transaction would make Agility the first U.S. public company focused solely on humanoid robotics, giving investors a direct public-market bet on a category that has moved from demos and prototypes toward commercial deployments in warehouses and industrial settings.

The company said the deal is expected to raise more than $600 million in gross proceeds. Reported funding includes $420 million in cash from Churchill Capital Corp. XI and more than $200 million from a PIPE led by Foxconn.

Agility said the money will help it scale production and deployment of Digit, its warehouse robot, and Digit v5, its next-generation system.

Announcement and chronology

The deal was first reported by The Wall Street Journal on June 24, 2026. AP, Barron's and Business Insider later corroborated the transaction the same day, with each outlet describing the company as heading to the public markets through a SPAC structure.

AP said Agility planned to go public through a $2.5 billion SPAC merger. Barron's reported that the company had agreed to merge with Churchill Capital Corp. XI and that the combined company would list on Nasdaq after shareholder approval. Business Insider also reported the plan and the valuation later in the day.

Barron's said closing is expected by the end of 2026, assuming the remaining approvals and listing steps are completed. The combined company is expected to trade under the ticker AGLT.

The transaction still needs shareholder approval and regulatory clearance before it can close. A formal SEC filing and merger proxy are still among the key next disclosures investors will watch.

What Agility is selling

Agility is based in Salem, Oregon, and was founded in 2015 as a spinoff from Oregon State University. The company has built its business around Digit, a humanoid robot designed for repetitive material-handling work in warehouses and industrial sites.

That positioning matters because many humanoid robotics companies are still years away from meaningful deployment. Agility is presenting itself as a company with an existing product in commercial use rather than a pure prototype play.

The company says Digit is already in commercial operation. AP said customers include Toyota, Schaeffler and Mercado Libre, while other reporting cited Amazon and GXO among the companies using the robot.

The differing customer lists reflect how the story has been described across outlets, but the underlying point is consistent: Agility is already operating in the real world, and that gives the listing more substance than a robotics story built only on future potential.

Funding, backers and scale-up plans

The financing package is as important as the listing itself. The company is seeking capital to expand production capacity and support more deployments as demand for warehouse automation grows.

WSJ reported that the combined deal would bring in more than $600 million in gross proceeds, including cash from the SPAC and a PIPE led by Foxconn. Investor's Business Daily reported a similar cash figure and described part of the financing as a private stock placement.

Agility's reported backers include Foxconn, Amazon, Nvidia and SoftBank. Foxconn's role in the PIPE is notable because the company brings both capital and manufacturing relevance to a sector that will need industrial-scale production if humanoid robots move from niche deployments to broader use.

The company said the proceeds will support both Digit and Digit v5. That suggests Agility is trying to fund the transition from current warehouse use cases toward the next version of its platform while also meeting the capital needs of hardware manufacturing.

Why this listing matters

The listing could set the first meaningful public-market benchmark for humanoid robotics. Until now, investors have mostly had private startup rounds, broad robotics companies and prototype-heavy competitors to compare against.

Agility is trying to make a different case: that humanoid robots can be commercial, recurring and scalable enough to justify a public listing now. If investors accept that argument, the deal could influence how the market values other companies in the sector.

That makes this more than a single financing event. It is also a test of whether public investors want exposure to a category that is still emerging but increasingly tied to warehouse labor shortages, logistics automation and industrial efficiency.

The transaction also tests appetite for a pure-play robotics company versus a platform or software story. Agility is offering a direct bet on one hardware category, one product family and one scaling challenge.

What comes next

Churchill Capital Corp. XI shareholders must approve the merger, and the companies must complete the regulatory and listing process before the deal can close. Barron's said the target is to finish those steps by the end of 2026.

The next public milestones should include the SEC filing, additional merger materials and any investor presentation that gives more detail on production targets, order volume and timing.

Those disclosures will matter because the funding is intended to support scale. Investors will want to see how Agility plans to turn current deployments into larger manufacturing output and broader commercial adoption.

For now, the headline is straightforward: Agility is attempting to become the first U.S. public company dedicated entirely to humanoid robotics, and it is doing so with a financing structure meant to support the next stage of growth.