tech
Agility Robotics plans to go public via SPAC in a $2.5B deal
Agility Robotics, the humanoid robotics startup that spun out of Oregon State University in 2015, expects to generate $620 million in proceeds.
TL;DR
- Agility Robotics is merging with Churchill Capital Corp XI, a special purpose acquisition company.
- The deal values Agility Robotics at approximately $2.5 billion.
- The transaction is expected to generate more than $620 million in proceeds.
- The capital will be used to increase production capacity for the Digit v5 robot, fulfill orders, and expand the customer base.
- Agility Robotics is known for its bipedal robot, Digit, which is used at nine customer sites.
- The company has secured over $300 million in multi-year orders for the new Digit v5 model.
- The combined company will trade under the ticker symbol AGLT on a North American stock exchange.