Churchill Capital Corp XI issued an unsecured promissory note to its sponsor, Churchill Sponsor XI LLC, for up to $1.5 million in working capital financing on August 7, 2026. The note bears no interest and matures upon the earlier of a business combination or liquidation. The sponsor may convert outstanding amounts into units at $10.00 per unit, with each unit comprising one Class A ordinary share and one-tenth of a warrant exercisable at $11.50 per share. This financing supports the company's operations as it seeks to complete an initial business combination in the special purpose acquisition company sector.

Churchill Capital Corp XI entered into a Merger Agreement with Agility Robotics, Inc. to effect a business combination transaction. The transaction is based on a pre-money equity value of $2,500,000,000 and includes a $200 million PIPE investment. Churchill will domesticate as a Delaware corporation and change its name to Agility Robotics, Inc. upon completion of the merger. Churchill Capital Corp XI is a special purpose acquisition company operating in the financial services industry through business combinations.