Agility Robotics SPAC Deal Puts Digit Orders Under Public-Market Review

Agility And Churchill Set A Public-Market Path

Agility Robotics has agreed to go public through a merger with Churchill Capital Corp XI, a special purpose acquisition company, in a transaction valuing the humanoid robotics company at a $2.5 billion pre-money equity value.

The combined company is expected to operate as Agility and list on a major North American exchange under the ticker symbol AGLT after closing.

Agility said the transaction is expected to close in 2026, subject to Churchill XI shareholder approval, SEC review of the Form S-4 registration statement, required regulatory approvals, stock exchange approval and customary closing conditions.

The deal is expected to provide more than $620 million of gross proceeds.

The funding package combines the SPAC trust, which holds $420 million if Churchill XI shareholders do not redeem, with approximately $200 million from a common stock PIPE committed at $10 per share.

Foxconn is leading the PIPE, with participation from existing and new institutional investors.

Agility plans to direct the proceeds toward existing customer orders, wider commercial deployment, Digit v5 production scale-up and continued investment in robotics, physical AI, software, safety systems and manufacturing infrastructure.

Digit v5 Orders Give The Listing Story Operating Evidence

Agility is pitching the merger around commercial humanoid deployment, not only research-stage robotics.

The company said Digit is operating in manufacturing, distribution and logistics environments with Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre.

The company counted more than 65,000 operating hours for Digit across nine customer facilities.

It also reported more than $300 million in multi-year Digit v5 orders, with those orders tied to certain contractual milestones, and said its customer pipeline is over 30.

Those figures put operating evidence behind the proposed listing rather than leaving it as a pure robotics concept story.

They also leave important conditions visible.

The order figure depends on contractual milestones, the company has not completed the public listing, and the release does not provide revenue, losses, margins or redemption assumptions for Churchill XI shareholders.

Agility describes Digit v5 as an AI-enabled humanoid robot designed for cooperative safety, meaning work around people in dynamic environments rather than only in segregated areas.

The company said today's humanoid deployments require separation between robots and people, while Digit v5 is intended to expand the workflows that can be automated.

Manufacturing Scale Remains A Closing And Execution Test

Agility said its RoboFab manufacturing facility is designed to support production of up to 10,000 units annually.

The company also said approximately 75% of Digit parts are sourced within the United States, and it described Agility Arc as a cloud-based automation platform for deployment, fleet orchestration and operational management across facilities.

The public-market case therefore depends on several layers at once: completing the SPAC transaction, converting contracted Digit v5 orders into deployments, scaling production, and proving that humanoid robots can work safely and reliably in commercial facilities at larger volume.

The investor roster gives the deal additional industrial relevance.

The strategic investor and partner group named by Agility includes NVIDIA, Amazon, SoftBank Vision Fund 2, Foxconn, Schaeffler, DCVC, Abico and Playground Global.

Agility said all existing shareholders will retain their stakes in the combined company, with a 180-day lock-up after close.

The proposed business combination values Agility at $2.5 billion before new money and is expected to bring in more than $620 million; the transaction still needs shareholder, SEC, regulatory and exchange approvals before Digit v5 orders can be tested as a public-company execution story.