June 24 : Agility Robotics will go public through a merger with blank-check firm Churchill Capital Corp XI in a $2.5 billion deal, the companies said on Wednesday.Here are some details on the deal:• The deal is expected to provide more than $620 million in proceeds to Oregon-based Agility, including roughly $200 million of financing from existing and new institutional investors.• Agility will use the proceeds to fulfill existing orders, expand commercial deployments and scale production.
• Shares of Churchill Capital Corp XI, backed by veteran Wall Street dealmaker Michael Klein, jumped 18 per cent in premarket trading.• Agility's flagship humanoid robot, Digit, is deployed in manufacturing, distribution and logistics to automate physical tasks. The firm estimates its market opportunity to be roughly $1 trillion.• "Humanoids are at a meaningful inflection point in commercial adoption, and we are focused on meeting growing customer demand, expanding deployments, and advancing our roadmap," Agility CEO Peggy Johnson said.• The firm has already secured more than $300 million of orders for a new version of Digit it is developing, which would have finer dexterity to move smaller objects and incorporate higher safety standards.• The company will list on a North American exchange under the ticker symbol AGLT.
