A humanoid robot can be asked to lift totes on a warehouse floor. Before Agility’s Digit does a great deal more of that, its maker must pass a different test: persuading public-market investors that years of engineering can become dependable revenue. The price of that test is now clearer, and smaller. Agility and Churchill Capital Corp XI said on 30 October that their merger is expected to raise about $465m before transaction expenses, down from the more than $620m previously advertised.
The revised figure follows the expiry of Churchill XI’s redemption deadline. It comprises roughly $164m left in the SPAC’s trust account, a $201m share placement at $10 a share led by Foxconn, and $100m of equity Agility has already received since the deal was announced. Shareholders vote on 2 November; if they approve, the companies expect to close on 4 November, with Nasdaq trading under AGLT from 5 November. None of those steps has yet happened.
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