Agility Robotics will go public via a merger with Churchill Capital Corp XI, valuing the startup at about $2.5 billion, the Wall Street Journal reported on Wednesday, citing the company’s executives.
Here are some details from the report:
- The companies expect gross proceeds of more than $600 million from the deal, including $420 million cash from Churchill XI and over $200 million via a common-stock private investment in public equity, led by Taiwan-based Foxconn
- The public company will list under the ticker symbol AGLT
- The Oregon-based company makes commercially deployable humanoid robots called Digit, as per its website
- Agility has already secured orders for a new version of Digit that it is developing, which should have finer dexterity to move smaller objects and incorporate higher safety standards
- Reuters could not immediately verify the report
- Agility Robotics and Churchill Capital Corp XI did not immediately respond to requests for comment outside business hours
