Agility Robotics clears SEC review for its SPAC listing; Churchill XI holders vote Nov 2 on a deal worth over $620M in gross proceeds

Agility Robotics and Churchill Capital Corp XI said in a press release on Oct 13 that the SEC has declared effective their joint Form S-4 registration statement for the proposed business combination, and that Churchill XI will hold its extraordinary general meeting on Nov 2 for shareholders of record as of Sept 14.

The companies said the deal is expected to bring more than $620 million in gross proceeds, made up of about $424 million from Churchill XI's trust account assuming no redemptions and about $200 million from a common-stock PIPE led by Foxconn, with closing expected in November and the combined company trading on Nasdaq as AGLT.

In MEKAWIRE's coverage, the merger agreement announced in June valued Agility at $2.5 billion pre-money, and the Digit maker's verified priced rounds in our database since its 2022 Series B add up to about $367 million, so the listing would roughly double the capital it has disclosed raising.