Agility Robotics begins trading on Nasdaq on November 5 under the ticker AGLT, becoming what the company calls the only pure-play humanoid robotics firm listed on a U.S. exchange1. Warrants trade as AGLTW.
Shareholders of Churchill Capital Corp XI approved the SPAC merger on November 2, with more than 84% of votes cast in favor. The deal values the combined company at roughly $2.5 billion and is expected to deliver about $465 million in gross proceeds.
The proceeds include a $201 million PIPE in common stock priced at $10 a share, led by Foxconn Technology Group, plus roughly $164 million held in Churchill Capital Corp XI's trust account.
GXO Logistics is already running Agility's bipedal Digit robot in live warehouse operations, a relationship that began with a Spanx pilot and expanded into a multi-year commercial deal. Agility says its robots are working in commercial sites today, not limited to demonstrations.
ANALYSIS The listing gives Agility a public-market currency and a cash infusion at a moment when most humanoid robotics competitors remain private, placing significant weight on the company's ability to convert its existing commercial deployments into broader revenue.