Agility Robotics has agreed to go public through a merger with special purpose acquisition company Churchill Capital Corp XI, in a deal that values the humanoid robotics developer at a pre-money equity value of $2.5 billion.
The transaction is expected to generate more than $620 million in gross proceeds, including approximately $200 million from a private investment in public equity (PIPE) financing led by Foxconn, alongside existing and new institutional investors.
Once the deal closes, the combined company is expected to operate as Agility and trade on a major North American stock exchange under the ticker symbol AGLT. [Read more…] about Agility Robotics to go public through $2.5 billion SPAC merger