Agility Robotics, an Oregon company, expects its shares to begin trading on the Nasdaq stock market on Thursday, Nov. 5, under the symbol AGLT. It makes Digit, a humanoid robot: a robot built in a human shape. Agility and Churchill Capital Corp XI said on Friday, Oct. 30, that Agility expects to raise about $465 million in the deal, before costs. Agility says it expects to be the only U.S.-listed company focused purely on humanoid robots that already has them at work for customers.
Agility is going public by merging with Churchill, a company already listed on the Nasdaq that was set up only to combine with a business and bring it onto the market. Churchill keeps its cash in a trust account, and its shareholders can choose to be paid back from it instead of owning part of the merged company. Every dollar paid back is a dollar Agility doesn't get. When the merger was announced in June, the deal valued Agility at $2.5 billion, not counting the new money, and the companies expected more than $620 million, including $420 million from the trust if no one asked to be paid back. Now that the deadline to ask has passed, only about $164 million, less than half of that, is expected to come from the trust.
The rest of the $465 million is about $201 million from investors led by Foxconn, who agreed to buy shares at $10 each, and $100 million that Agility says it has already received since the deal was announced. That $100 million was not part of the June estimate. Agility's investors include NVIDIA, Amazon and SoftBank's Vision Fund 2. The company says Agility's existing shareholders will not be able to sell their shares for 180 days after the deal closes.
Agility says Digit has worked more than 65,000 hours in real workplaces. It says GXO plans to add Digit at two more sites starting in early 2027, AGCO plans a factory trial starting in 2027, and more than 30 companies are possible customers. Agility plans to deliver its newest model, Digit 5, to early customers in the first half of 2027 and to make it available to all buyers by the end of 2027. Agility says it holds more than $300 million in orders for Digit 5 over several years, but adds that the money depends on Agility meeting goals and product requirements set in those contracts, and is not money it earns today. In a filing with U.S. regulators, Agility reported $1.8 million in sales for 2025, according to a news report.
The deal still needs approval from Churchill's shareholders at a meeting on Nov. 2, along with other usual conditions, and is expected to close on Nov. 4. Until that vote, Churchill shareholders can change their minds and keep their shares, so the amount from the trust could still rise. Agility says it expects to enter the market with enough money for its planned expansion, but the risks the companies list include the chance that it will need to raise more later. They also include Agility's history of losses and the chance that its robots never catch on with buyers.