Mergers & Acquisitions ·
Agility Robotics completes $2.5B merger with Churchill Capital Corp XI and raises $201M PIPE
CCXIChurchill Capital Corp XI
Churchill Capital Corp XI consummated its business combination with Legacy Agility, Inc., resulting in the company being renamed Agility Robotics, Inc. and domiciled in Delaware. The transaction valued Legacy Agility at an equity value of $2.5 billion, paid entirely in shares of Common Stock. Approximately 25.4 million CCXI public shares were redeemed for approximately $261.8 million, leaving $164.1 million in the trust account to fund transaction expenses. Concurrently, the company raised $201.0 million through a PIPE investment of 20.1 million shares at $10.00 per share. Following the closing, there were approximately 242.1 million shares outstanding. Agility Robotics develops and commercializes bipedal robots for industrial applications.