Agility Robotics will merge with Michael Klein's Churchill Capital Corp. XI in a deal valuing the humanoid robot maker at roughly $2.5 billion, executives told The Wall Street Journal. The company plans to list under the ticker AGLT, marking one of the largest robotics IPOs in recent memory.

The transaction expects to generate over $600 million in gross proceeds, including $420 million in cash from Churchill XI and more than $200 million through a PIPE investment led by Foxconn. The Taiwan-based electronics manufacturer already backs Agility, underscoring strategic confidence in humanoid automation technology.

Agility's flagship product, Digit, automates warehouse tasks like moving and stacking heavy containers. Major clients include Amazon.com, logistics firm QXO, automotive supplier Schaeffler, and Toyota Motor Manufacturing Canada, demonstrating real-world adoption across industries.

The move puts Agility alongside competitors like Tesla, Boston Dynamics, and startups Figure AI and Apptronik in the emerging humanoid robotics market. This SPAC merger signals investor appetite for automation technology that could reshape manufacturing and logistics operations.