Agility Begins Trading on Nasdaq as AGLT, the First US-Listed Pure-Play Humanoid Company

Agility's common stock begins trading on the Nasdaq Stock Market today under the ticker AGLT, with its warrants listed as AGLTW. The listing follows the completion on November 4 of its merger with Churchill Capital Corp XI, a special purpose acquisition company (SPAC), and makes the Salem, Oregon, maker of the Digit robot the first pure-play humanoid robotics company listed in the United States.

Key Takeaways

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• Agility shares and warrants start trading on Nasdaq today as AGLT and AGLTW, after the Churchill Capital Corp XI merger closed on November 4.
• The deal and related financings raised about $465 million in gross capital before expenses, against more than $600 million projected when the merger was announced in June.
• The financing includes a PIPE led by Foxconn and $100 million in equity Agility received before closing.
• Agility points to more than $300 million in multi-year Digit 5 orders, which depend on contractual milestones, and its S-4 showed $1.78 million in 2025 sales against a $138.1 million net loss.

"Today marks an important milestone for Agility, but the bigger story is what it means for the future of work," CEO Peggy Johnson said in the company's announcement. She said becoming a public company gives Agility "access to more resources" to put Digit into more workplaces.

The "first" claim is limited to US exchanges. UBTech, the Shenzhen-based maker of the Walker S humanoids, has been listed in Hong Kong since December 2023 and Unitree IPO’ed in August this year.

From $600 million to $465 million

When Agility announced the merger in June, the deal valued the company at about $2.5 billion and was expected to bring in more than $600 million: about $420 million held in Churchill XI's trust account and a PIPE (private investment in public equity) of more than $200 million led by Foxconn, an existing Agility investor. Churchill XI is sponsored by Michael Klein, a former Citigroup banker whose earlier SPACs took electric-vehicle maker Lucid and nuclear startup Oklo public.

Today's release puts the total at approximately $465 million in gross capital before transaction expenses. As we reported on October 30, that figure is made up of:

• about $164 million from Churchill XI's trust account, after shareholder redemptions
• about $201 million from the Foxconn-led PIPE, committed at $10 per share
• $100 million in equity funding Agility received after the merger was announced

Without that $100 million, which was not part of the original structure, the money from the trust and the PIPE comes to about $365 million. The trust contribution is about $260 million below the roughly $424 million that Agility cited, assuming no redemptions, when the registration statement became effective in October. Churchill XI shareholders approved the deal on November 2, with more than 84% of votes cast in favour.

Agility says it will use the proceeds to fulfil customer orders, expand deployments, scale Digit production and keep developing its robotics and AI platform.

What public investors are buying

The audited figures in Agility's Form S-4, which we covered in September, show $1.78 million in 2025 net sales and a net loss of $138.1 million. About 64% of that revenue came from related parties, and management disclosed substantial doubt about the company's ability to continue as a going concern.

Today's release repeats the figure of more than $300 million in committed multi-year orders for Digit 5, "subject to satisfaction of contractual milestones, product features and specifications." The S-4 showed that this is a single contract for 1,000 robots from a customer the filing identifies as a related party, with 453,000 warrants attached that vest as robots are deployed. At Agility's Analyst & Investor Day in October, executives said the order releases robots in tranches as Digit 5 proves each use case. Chief Operating Officer Jen Hunter put Digit 5's bill of materials at about $150,000 at launch, above the roughly $125,000 for Digit 4.

The release lists these commercial relationships:

• Live deployments with GXO, Schaeffler and Toyota Motor Manufacturing Canada. At GXO's site in Georgia, Digit has moved more than 100,000 totes.
• GXO expansion to two more US logistics facilities in early 2027.
• AGCO, which signed a commercial agreement for a Digit pilot expected to start in 2027.
• Three unnamed manufacturers in paid programs, which the release describes as a major global automaker, one of the largest automotive technology and components suppliers, and a global consumer products manufacturer.
• A pipeline of more than 30 prospective customers across automotive, manufacturing, aerospace, logistics, consumer products and defence.

Across nearly three years of deployments, Digit has logged more than 65,000 hours of operation.

Digit 5 and the factory

Digit 5, unveiled in September, is designed to work near people without safety fencing, lift up to 50 pounds repeatedly and take grippers that can be swapped by hand. Early customer access is planned for the first half of 2027, with general availability targeted for the end of 2027.

Agility plans to standardise Digit 5's onboard compute on NVIDIA IGX Thor and expand its use of NVIDIA's Halos safety stack. It works with FORT Robotics on industrial safety systems and with Nyobolt on a battery that Agility says will recharge in nine minutes and give more than 20 hours of work in a 24-hour day.

Production runs through RoboFab, Agility's 70,000-square-foot factory in Salem, which is designed for up to 10,000 robots a year. The company also has a hardware and AI development site in Fremont, California, and a 50,000-square-foot expansion in Pittsburgh.

The release's risk factors include possible delays to Digit 5, failure to meet the conditions attached to its orders, Agility's history of net losses, and the possibility that the capital raised in the merger proves insufficient.

Beyond Digit: patents, software and new markets

In a company overview video published on November 4, Johnson described plans that go beyond selling and leasing Digit. After "over a decade of R&D and filing patents," she said, Agility is "in a position to license our extensive library of IP," and the company envisions "becoming the backbone of the humanoid industry" as humanoids "of all types and builds" come to market. The video does not name any licensees, terms or revenue targets.

Agility also plans to offer its cloud fleet-management software, which the release calls Agility Arc, as standalone software "agnostic of other Agility product offerings." That would let customers use it to run machines other than Digit. Today the software tracks fleet health and workflow status and connects Digit to customers' facility management systems and other automation.

Johnson said Agility is exploring form factors for consumer-facing work, "whether that means a wheelbase or a smaller bipedal form factor," in line with the wheeled and lighter bipedal concepts on the company's vision page. She listed construction, agriculture, hospitality, retail, home service and elderly care as later markets, once Agility's manipulation and safety software mature. For now, she said, the company is "focused on mastering work done in industrial environments."