A rising player in robotics is slated to go public later this year and will become the first pure play on humanoid robots to trade on the U.S. market.
Agility Robotics has agreed to merge with Churchill Capital Corp XI, a publicly traded blank-check company, according to a filing with the Securities and Exchange Commission. The combined company will list on the Nasdaq once Churchill shareholders approve the transaction.
While a date for the vote hasn't been set, the filing indicates the deal is expected to close by the end of 2026. If the transaction isn't finalized by the Dec. 31 deadline, either party can walk away.
Churchill Capital Corp XI surged 23% to $12.77 on Wednesday. The broader market was 0.3% higher.
Agility Robotics was founded in 2015 as a spinoff from Oregon State University's Dynamic Robotics Laboratory. The company's flagship robot, Digit, is available to lease through a "robot-as-a-service" model.
Agility operates in a niche market that's already chock full of rivals. Tesla remains a dominant player despite its Optimus robot being in development. Boston Dynamics has established a stronger market foothold, selling warehouse robots while transitioning its flagship Atlas humanoid into early commercialization. Smaller start-ups like Figure AI and Apptronik are working on prototypes of their own.
A public listing will put a massive spotlight on Agility. Though it is a newer face in the industry -- operating in the shadow of pioneers like Boston Dynamics, which has a two-decade head start -- Agility can distinguish itself through the backing of high-profile clients.
Designed specifically for logistics and material handling, Digit features reverse-jointed legs that allow it to navigate uneven surfaces. This makes it an ideal fit for Amazon, which is actively testing and deploying the robot in its warehouses. Agility counts GXO Logistics, auto-parts manufacturer Schaeffler, and Toyota Motor Manufacturing Canada among its other notable customers.
The company's leadership brings similar enterprise pedigree: CEO Peggy Johnson, who took the helm in 2024, is a former Microsoft executive who also led augmented-reality tech company MagicLeap.
These big names could provide strong market validation as Agility enters the public sphere, appealing to institutional investors looking for commercial-stage exposure to humanoid robotics.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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June 24, 2026 10:03 ET (14:03 GMT)
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