Agility Robotics' SPAC Will Raise About $465 Million, Down From $620 Million, Days Before the November 5 Listing

Agility Robotics now expects gross proceeds of about $465 million from its merger with Churchill Capital Corp XI, against the more than $620 million quoted when the deal was signed in June. The figure comes from an October 30 press release filed with the SEC, ahead of the Churchill shareholder vote on November 2.

The humanoid-robot maker expects the combination to close on November 4, 2026, with shares trading on Nasdaq as AGLT from November 5. The release does not disclose how many Churchill shares were redeemed, what the trust holds after redemptions, or the minimum-cash condition. It names no executive and carries no quotation.

Where the $465 million comes from

The release gives three components, which add up to the headline: about $164 million from Churchill XI's trust account, about $201 million of common stock sold at $10 a share in a private placement led by Foxconn with existing and new institutional investors, and $100 million of equity Agility received after the deal was announced. All of it is before transaction expenses.

The June version, as The Next Web reported on the signed deal, was about $420 million from the trust and a $200 million Foxconn-led placement at $10, for more than $620 million. The placement barely moved. The trust fell by about $256 million, which implies redemptions of roughly that scale against the June figure, though the release does not say so and that subtraction is The Terminal's. The $100 million of new equity is the only item added.

1. Trust, June420 $M
2. Trust, October164 $M
3. PIPE, June200 $M
4. PIPE, October201 $M
5. Post-announcement equity, October100 $M

Source: Churchill Capital Corp XI press release, October 30, 2026 (final); The Next Web, June 2026 (original)

The valuation and the business behind it

The $2.5 billion pre-money equity valuation was set in June and the October release does not restate it. Agility's previous private round, per The Next Web, was a $400 million Series C in March 2025 at about $2.12 billion. The backers listed are Nvidia, Amazon, SoftBank Vision Fund 2, Foxconn and DCVC.

On traction, The Next Web reports more than $300 million in multi-year orders for Digit v5, which is the company's own figure, and customers named as Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre. Agility Chief Executive Peggy Johnson said Digit is deployed at nine customer sites and about $300 million in potential multi-year contract value, according to Runtime Wire. "Potential" is the word to hold onto: neither source gives revenue or units sold, so orders and potential contract value are not the same as recognised sales.

Item	Figure	Source
Pre-money equity value	$2.5 billion	June announcement
Prior private round	$400 million Series C, March 2025	The Next Web
Multi-year Digit v5 orders	More than $300 million	Company figure via The Next Web
Customer sites with Digit	Nine	Peggy Johnson via Runtime Wire

What to watch on November 2 and 5

The release says nothing about how many shares will be free to trade after redemptions. The Churchill XI shareholder vote on November 2 is the last procedural step. After listing, the first quarterly report as a public company will be the earliest place to find revenue and deployments in audited form.

For another listing story on this desk, see StockGro's FY26 profit and IPO plans, and for hardware economics see Satlyt's orbital compute test.