Agility Robotics files for SPAC merger with Churchill in $620M deal

Agility Robotics, creator of the humanoid robot Digit, filed to go public via a SPAC merger with Churchill Capital Corp XI in a deal valued at more than $620 million.

Agility Robotics filed a confidential S-4 registration statement with the SEC for its proposed business combination with Churchill Capital Corp XI (NASDAQ: CCXI), a deal expected to provide more than $620 million in gross proceeds to scale production of its Digit humanoid robot. The combined company will operate as "Agility" and trade under the ticker "AGLT" on a major North American exchange, creating what the companies described as the only U.S. publicly listed pure-play humanoid robotics company with active commercial deployments.

"Agility's mission is to build robot partners that augment the human workforce and lead the adoption of humanoids everywhere," the company said in a statement, noting its Digit robot is already deployed with Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre across manufacturing, distribution and logistics operations.

The transaction is expected to deliver $421 million of cash held in Churchill XI's trust account, assuming no redemptions, plus approximately $201 million of incremental financing through a common stock issuance with participation from existing and new institutional investors. Agility plans to use the proceeds to fulfill customer orders, expand commercial deployments, scale production of its next-generation Digit v5 humanoid, and invest in its integrated platform spanning robotics, physical AI, software, safety systems and manufacturing infrastructure.

The deal values Agility at a time when investor appetite for humanoid robotics companies is growing, though the sector remains early-stage with few publicly traded pure-play options. Agility's backers include NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC and Playground Global — a roster that spans AI, technology, venture capital and industrial manufacturing.

Deal Structure and Timeline

The business combination is structured as a traditional SPAC merger, with Churchill XI — a blank-check company that raised capital in its December 2025 IPO — serving as the acquisition vehicle. The transaction requires approval from Churchill XI shareholders, SEC review of the Form S-4 registration statement, regulatory approvals and listing approval from the relevant stock exchange. The companies expect the deal to close in 2026.

Churchill Capital Corp XI, led by Michael Klein, is the eleventh SPAC in the Churchill Capital series. The firm has a track record of taking companies public through SPAC transactions across multiple sectors.

Digit v5 and the Commercial Case

Agility is preparing to launch Digit v5, which the company calls the world's first cooperatively safe AI-enabled humanoid robot designed to work alongside humans without safety cages. The current Digit model is already generating revenue through commercial deployments, a distinction that sets Agility apart from most humanoid robotics competitors that remain in pilot or prototype phases.

The company faces competition from Tesla's Optimus, Figure AI, Boston Dynamics and 1X Technologies, among others, as the humanoid robotics market attracts billions in venture capital and strategic investment. Agility's existing customer relationships with Toyota, GXO and Mercado Libre provide a base of proven use cases in logistics and manufacturing — two sectors facing persistent labor shortages that could drive adoption.

What's at Stake

The SPAC merger gives Agility access to public market capital at a critical juncture as it transitions from early deployments to volume production. With more than $620 million in expected proceeds, the company has one of the largest capital war chests among private humanoid robotics developers. If the deal closes as planned in 2026, Agility will become a test case for whether pure-play humanoid robotics companies can sustain public market valuations — and whether the technology can scale beyond pilot programs into mainstream industrial automation.

This article is for informational purposes only and does not constitute investment advice.