Churchill Capital XI shareholders approve $2.5B Agility Robotics humanoid SPAC

What happened

Deal is expected to provide approximately $465 million in gross capital as Agility expands deployments of its Digit humanoid with industrial customers. Shareholders of Churchill Capital Corp XI approved the special purpose acquisition (one company buying another) company’s (SPAC) proposed business combination with the humanoid developer, moving Agility closer to becoming a publicly-traded company.

The SPAC is expected to close. The combined company is expected to begin trading on the Nasdaq.

The transaction is expected to provide Agility with approximately $465 million in gross capital before expenses. The revised capital figure reflects a reduction from the more than $620 million in gross proceeds anticipated when the merger was announced in June.

Digit 5 contains redesigned legs and new batteries for commercial use.

Source: Agility Robotics Agility Robotics has cleared a major hurdle in its planned initial public offering (IPO (the sale of a company’s shares to the public on a stock exchange)). More than 84% of votes cast at a special shareholder meeting.

Churchill Capital stock finished up nearly 14%.