Recent Updates — CCXI
Churchill Capital Corp XI and Agility Robotics announced that, following the expiration of the redemption deadline for their proposed business combination, Agility's gross capital raise is expected to be approximately $465 million before transaction expenses. The proceeds include approximately $164 million from Churchill XI’s trust account, about $201 million from a common stock PIPE led by Foxconn at $10 per share, and $100 million of equity funding already received. Subject to shareholder approval at an extraordinary general meeting on November 2, 2026, the transaction is expected to close on November 4, 2026, with combined shares trading under the ticker "AGLT" starting November 5, 2026. Agility Robotics develops humanoid robots for commercial deployment.
The U.S. Securities and Exchange Commission declared the joint Form S-4 registration statement effective on October 13, 2026, marking a critical regulatory milestone in the proposed business combination between SPAC Churchill Capital Corp XI and Agility Robotics. The transaction is expected to generate more than $620 million in gross proceeds, comprising approximately $424 million from Churchill’s trust account (assuming no redemptions) and roughly $200 million via a PIPE led by Foxconn. An extraordinary general meeting of Churchill shareholders has been scheduled for November 2, 2026, to vote on the merger, with closing anticipated in November 2026. Agility Robotics develops humanoid robotics and physical AI systems that augment the human workforce.
Churchill Capital Corp XI filed an 8-K disclosing an investor presentation related to its previously announced Agreement and Plan of Merger with Agility Robotics. The transaction involves the domestication of Churchill from the Cayman Islands to Delaware, followed by a merger where Agility continues as a wholly-owned subsidiary and the combined entity changes its name to Agility Robotics, Inc. The filing includes forward-looking statements regarding Digit 5 humanoid robots, manufacturing capacity at RoboFab, and commercial deployment strategies. Agility Robotics develops autonomous humanoid robots for industrial applications.
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.