Agility Robotics Advances Public Listing Through Churchill XI Business Combination

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Agility Robotics, Inc. (“Agility” or the “Company”) creator of the general-purpose humanoid robot Digit, and Churchill Capital Corp XI (NASDAQ: CCXI) (“CCXI” or “Churchill XI”), a special purpose acquisition company, announced the confidential submission of a draft registration statement on Form S-4 (the "Registration Statement") with the U.S. Securities and Exchange Commission ("SEC").

The submission of the Registration Statement marks an important milestone toward the completion of the previously disclosed proposed business combination between Agility and Churchill XI under which Agility will become a publicly traded company. Upon closing, the combined company will operate as "Agility" and is expected to be listed on a major North American exchange under the ticker symbol "AGLT," creating the only U.S. publicly listed pure-play humanoid company with proven, active commercial deployments.

Agility’s mission is to build robot partners that augment the human workforce and lead the adoption of humanoids everywhere. The Company’s flagship humanoid robot, Digit, is a general-purpose, human-centric robot Made for Work™ currently commercially deployed with leading enterprises including Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre where it automates repetitive physical tasks across manufacturing, distribution, and logistics operations. Agility is preparing for the commercial launch of Digit v5, its next-generation humanoid designed to be the world's first cooperatively safe AI-enabled humanoid robot. The Company is supported by leading strategic investors and partners across the AI, technology, venture, and industrial ecosystem, including NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global.

The proposed business combination is expected to provide more than $620 million in gross proceeds, including $421 million of cash held in Churchill XI's trust account (assuming no redemptions) and approximately $201 million of incremental financing through a common stock with participation from leading existing and new institutional investors. Agility intends to use the proceeds from the transaction to fulfill existing customer orders, expand commercial deployments, scale production of Digit v5, and continue investing in its integrated platform spanning robotics, physical AI, software, safety systems, and manufacturing infrastructure.

The Transaction is expected to close in 2026, subject to approval by Churchill XI shareholders, SEC review of the registration statement on Form S-4, receipt of required regulatory approvals, approval by the relevant stock exchange to list the securities of the combined company, and other customary closing conditions.