Agility Robotics Expects $465M SPAC Haul to Fund Digit 5 Rollout

Humanoid robotics developers continue to attract major financing. Agility Robotics Inc. and Churchill Capital Corp XI said they expect Agility to raise about $465 million through their proposed merger with the special-purpose acquisition company, or SPAC.

The estimate follows Agility’s June announcement of the business combination and reflects a revised capital plan for the humanoid maker’s public listing.

Agility said the gross capital raise includes about $164 million from Churchill XI’s trust account and approximately $201 million from a common stock PIPE priced at $10 per share. The PIPE was led by Foxconn, with participation from existing and new institutional investors.

The total also includes $100 million in equity funding already received after the business combination was announced. That $465 million is below the $620 million Agility projected at a $2.5 billion valuation when it first disclosed the planned merger in June.

The Robot Report has contacted Agility for comment and will update this article if the company responds.

Agility, based in Salem, Ore., said it expects to enter public markets well capitalized. The company said the funding will support planned investments in commercial expansion and help meet growing customer demand.

“Agility is expected to enter the public markets well capitalized to execute its planned investments in commercial expansion and support growing customer demand,” the company stated.