Agility Robotics moved one step closer to becoming the first U.S. publicly traded pure-play humanoid robotics company with proven commercial deployments, after its joint S-4 registration statement with special-purpose acquisition company Churchill Capital Corp XI (Nasdaq: CCXI) was declared effective by the U.S. Securities and Exchange Commission on Oct. 13. The companies have scheduled an extraordinary general meeting for Nov. 2 for shareholders to vote on the proposed business combination, which would see the merged entity list on the Nasdaq under the ticker symbol AGLT.
The transaction values Agility at a pre-money equity valuation of $2.5 billion and is expected to generate more than $620 million in gross proceeds. Approximately $424 million will come from Churchill XI’s trust account, assuming no shareholders redeem their shares, while an additional $200 million will be raised via a common stock PIPE offering led by Foxconn, priced at $10 per share with participation from both existing and new institutional investors.
Agility intends to allocate the proceeds to fulfilling existing customer orders, expanding commercial deployments, scaling production of its Digit 5 humanoid robot, and continuing investment across its integrated platform spanning robotics hardware, physical AI, safety systems and manufacturing infrastructure. Under the terms of the agreement, all existing Agility shareholders will roll their equity into the combined company and are subject to a 180-day lock-up period following closing. The boards of directors of both companies have unanimously approved the proposed transaction.
Founded in 2015 out of Oregon State University’s Dynamic Robotics Laboratory, Agility has established itself as a front-runner in the commercialization of humanoid robotics. Its flagship Digit robot has accumulated more than 65,000 operating hours across nine customer facilities globally, with deployments at enterprises including Schaeffler, GXO Logistics, Toyota Motor Manufacturing Canada and Mercado Libre, covering manufacturing, warehousing and logistics workflows.
Unveiled in September, the next-generation Digit 5 is engineered for cooperative safety in shared human work environments, built on years of real-world operational data and customer feedback. The model has already secured more than $300 million in multi-year orders, with early customer availability targeted for early 2027. On the production side, Agility’s RoboFab facility in Salem, Oregon has an annual design capacity of 10,000 units, complemented by a new hardware and physical AI development hub in Fremont, California that opened in July, creating a vertically integrated footprint spanning R&D, mass production and field deployment.
Agility counts NVIDIA, Amazon, SoftBank Vision Fund 2 and DCVC among its key strategic and financial backers. NVIDIA selected Agility as the global launch partner for its Halos full-stack safety system for physical AI and humanoid robotics, building on a longstanding collaboration to advance safety standards for large-scale humanoid deployment.
The planned listing arrives as the global humanoid robotics sector enters a critical phase of commercial rollout. Once public, Agility will compete directly with players including Tesla’s Optimus program, Figure AI and Boston Dynamics in the industrial and warehouse automation space, with its mass production and delivery schedule set to serve as a key barometer for the industry’s broader commercialization trajectory.
