Churchill XI shareholders approve Agility Robotics merger, setting up Nasdaq debut as AGLT on 5 November
More than 84% of votes cast backed the deal, which values the humanoid maker at $2.5 billion before the money and is now expected to raise about $465 million, down from more than $620 million expected in June after redemptions.
Why it matters
Agility would become one of the first humanoid robot makers to list on a US exchange, giving investors a public read on a sector that has mostly been valued in private rounds. Its Digit robot already works in nine customer sites, including GXO warehouses, and Agility claims more than $300 million in committed multi-year orders for Digit 5, which are not current revenue. The funding mix is about $164 million from the SPAC trust, a roughly $201 million PIPE led by Foxconn and $100 million raised earlier. Watch the first day of AGLT trading on 5 November.
Key facts
- More than 84% of votes cast approved the deal on 2 November
- Deal expected to close 4 November; Nasdaq trading as AGLT from 5 November
- About $465 million gross, down from more than $620 million expected in June
- $2.5 billion pre-money equity value
- Digit runs in 9 customer environments
- Churchill XI stock closed up nearly 14% on 2 November