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Agility Robotics Closes $2.5B SPAC and Begins Trading on Nasdaq as First U.S. Public Pure-Play Humanoid Company

With 9 active customer sites and over $300 million in committed Digit 5 orders, Agility becomes the only publicly-traded U.S. humanoid company with proven industrial deployments, trading under AGLT starting November 5.

Mainstay Communications Team · November 4, 2026 · 4 min read

Agility Robotics Closes $2.5B SPAC and Begins Trading on Nasdaq as First U.S. Public Pure-Play Humanoid Company

In brief

Agility Robotics closes its merger with Churchill Capital Corp XI on November 4, 2026, and begins trading on Nasdaq under ticker AGLT on November 5, raising approximately $465 million in gross proceeds at a $2.5 billion pre-money valuation. The Salem, Oregon company has 9 active commercial sites, more than 65,000 hours of real-world robot operation, and over $300 million in committed multi-year Digit 5 orders, giving public investors their first direct stake in a humanoid robotics company with operating customer deployments.

The Transaction

Agility Robotics closes its business combination with Churchill Capital Corp XI on November 4, 2026, after Churchill shareholders approved the deal on November 2 with more than 84% of votes cast in favor. The combined company's common stock is expected to begin trading on Nasdaq under the ticker AGLT on November 5; warrants will trade under AGLTW.

The gross capital raise totals approximately $465 million: roughly $164 million from Churchill XI's trust account, $201 million from a PIPE financing at $10 per share led by Foxconn, and $100 million in equity funding already received prior to closing. The implied pre-money equity valuation is $2.5 billion. Existing Agility shareholders rolled 100% of their equity into the combined company and are subject to a 180-day lockup.

First in a Category

Agility is the first U.S. pure-play humanoid robotics company to trade on a public exchange. Its peers, including Figure AI and Physical Intelligence, remain privately held with no announced timeline toward a public offering. The listing gives retail investors direct exposure to a sector that has until now been accessible primarily to venture fund LPs.

CEO Peggy Johnson, who joined in March 2024 after leading Magic Leap and six years at Microsoft, has described the addressable market as roughly $1 trillion and placed the near-term opportunity squarely in industrial and warehouse environments, where workflows are structured and predictable enough for today's generation of robots. She's also been characteristically direct about the competition: "Our biggest competitor right now is just us."

The Deployments

Agility's Digit robot is operating at 9 active customer sites, accumulating more than 65,000 hours of real-world operation. Its confirmed customers include GXO Logistics, Schaeffler Group, Toyota Motor Manufacturing Canada, Mercado Libre, and Amazon.

GXO, which ran the first formal commercial humanoid deployment in June 2024, is expanding Digit operations to 2 additional fulfillment centers in Statesville, North Carolina and Lebanon, Tennessee in early 2027. Toyota Motor Manufacturing Canada signed a robots-as-a-service agreement in February 2026, deploying 7 Digit units at its Woodstock, Ontario RAV4 plant. Schaeffler, which took an equity stake in Agility, runs Digit moving parts bins at its South Carolina plant and has signed a global deployment agreement targeting 100 plants by 2030.

Orders and Production

Agility has secured more than $300 million in committed multi-year orders for Digit 5, with a sales pipeline of more than 30 prospective customers across manufacturing, automotive, aerospace, defense, and logistics. Digit 5 deliveries to early-access customers are slated for the first half of 2027; general availability arrives by year-end 2027.

The company operates RoboFab, a production facility in Salem, Oregon designed to build up to 10,000 Digit units annually. Foxconn serves as an overflow manufacturer, an arrangement that reflects both the PIPE investor's strategic interest and the need for scalable production capacity ahead of Digit 5's broad commercial launch.

The Financials

Agility reported $1.8 million in revenue for 2025 against losses of $140 million, figures consistent with the pre-commercial phase of a capital-intensive hardware platform. The public offering delivers capital to accelerate manufacturing scale and product development.

The robots-as-a-service pricing model runs at approximately $400,000 to $500,000 per robot over a 5-year subscription, designed to convert the $300 million order book into recurring revenue rather than one-time hardware sales. The warehouse robotics market is projected to grow from under $15 billion in 2024 to $117 billion by 2034, according to Motley Fool's analysis of industry forecasts, a trajectory that informed the deal's $2.5 billion valuation floor.

Sources

Companies mentioned

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