UPDATE 1-Agility Robotics to go public in $2.5 billion SPAC deal, WSJ reports

Churchill Capital Corp. XI Class A

Churchill Capital Corp. XI Class A

CCXI

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Adds further details from the WSJ report

June 24 (Reuters) - Agility Robotics will go public via a merger with Churchill Capital Corp XI CCXI.O, valuing the startup at about $2.5 billion, the Wall Street Journal reported on Wednesday, citing the company's executives.


Here are some details from the report:

  • The companies expect gross proceeds of more than $600 million from the deal, including $420 million cash from Churchill XI and over $200 million via a common-stock private investment in public equity, led by Taiwan-based Foxconn

  • The public company will list under the ticker symbol AGLT

  • The Oregon-based company makes commercially deployable humanoid robots called Digit, as per its website

  • Agility has already secured orders for a new version of Digit that it is developing, which should have finer dexterity to move smaller objects and incorporate higher safety standards

  • Reuters could not immediately verify the report

  • Agility Robotics and Churchill Capital Corp XI did not immediately respond to requests for comment outside business hours


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