Churchill Capital Corp XI

What Churchill Capital Corp XI does

Churchill Capital Corp XI is a Delaware-incorporated special purpose acquisition company (SPAC) founded by Michael Klein in 2025 and listed on Nasdaq under ticker CCXIU. The company completed an upsized IPO on December 18, 2025, raising $414 million in gross proceeds through the sale of 41.4 million units at $10.00 per unit, with Citigroup Global Markets acting as sole bookrunner. Each unit consists of one Class A ordinary share and one-tenth of a redeemable warrant exercisable at $11.50. The SPAC was formed for the purpose of effecting a merger, share exchange, asset acquisition, or similar business combination with one or more target businesses.

In June 2026, Churchill Capital Corp XI announced a definitive agreement to merge with Agility Robotics, an Oregon-based humanoid robotics company spun out of Oregon State University in 2015, at a $2.5 billion pre-money equity valuation. The transaction is expected to deliver over $620 million in gross proceeds to the combined entity, comprising $420 million from the SPAC trust account and a $200 million PIPE placement led by Foxconn with participation from Amazon, NVIDIA, and SoftBank Vision Fund 2. Upon closing (expected in 2026), the combined company will trade under ticker AGLT and become the first U.S.-listed pure-play publicly traded humanoid robotics company.

The post-merger business model centers on Agility's Digit bipedal humanoid robot, deployed for warehouse and logistics automation, with revenue generated from direct robot sales, Robotics-as-a-Service subscriptions, and multi-year contracted orders exceeding $300 million for the Digit v5 platform. Manufacturing is anchored by Foxconn at a Salem, Oregon factory with 10,000-unit annual capacity, while NVIDIA Halos safety software is integrated into Digit v5. Pre-merger, the SPAC generates no operational revenue; post-merger economics depend on production scaling, customer adoption (notably Amazon's warehouse deployments), and execution of contracted order backlog.

Name

Churchill Capital Corp XI

Legal name

Churchill Capital Corp XI

Website

https://churchillcapital9.com/

Company type

Public

Founded year

2025

Operating status

Operating

Short description

Churchill Capital Corp XI is a Michael Klein-backed SPAC that raised $414 million in its December 2025 Nasdaq IPO (CCXIU) and announced a $2.5 billion merger with Agility Robotics to create the first U.S.-listed pure-play publicly traded humanoid robotics company under ticker AGLT.

Ownership category

akta.pro rank

Product category

Special Purpose Acquisition Company (SPAC)

NAICS

Other Financial Vehicles (52599), Other Financial Vehicles (525990), Other Investment Pools and Funds (5259)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

akta.pro secondary industry

Corporate Innovation & Technology Scouting Units (with investment mandate) (FSANAHAI)

Keywords

• Special purpose acquisition company
• Blank check company
• Business combination vehicle
• SPAC IPO underwriting
• Public market listing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Others

Revenue model

1. Trust account returns / redemption rights: As a SPAC, Churchill Capital Corp XI raised capital by selling units at $10 per unit, placing gross proceeds in a trust account. SPAC units consist of one Class A ordinary share and a fraction of a redeemable warrant. Pre-merger, the SPAC has no operating revenue. Post-merger with Agility Robotics, the combined entity will generate revenue from robotics product sales, Robotics-as-a-Service subscriptions, and direct robot sales.
2. Merger / business combination transaction fees: Upon closing the SPAC merger with Agility Robotics, gross proceeds of over $620 million are delivered to the target company, comprising $420 million from the SPAC trust account and $200 million from a PIPE placement led by Foxconn. The sponsor (Michael Klein) receives approximately 20% of the post-merger company plus warrants as consideration for structuring and consummating the transaction.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Churchill Capital Corp XI is a Special Purpose Acquisition Company (SPAC) formed to effect a merger, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company raised $414 million in its December 2025 IPO and has announced a definitive merger agreement with Agility Robotics at a $2.5 billion pre-money valuation, expected to close in 2026, creating the first U.S. publicly traded pure-play humanoid robotics company.

Product overview

Churchill Capital Corp XI is a Special Purpose Acquisition Company (SPAC) that completed a $414 million IPO in December 2025, trading on Nasdaq under ticker symbol CCXIU. The company was formed to acquire or merge with one or more businesses. In June 2026, the company announced a definitive merger agreement with Agility Robotics, a humanoid robotics company, at a $2.5 billion valuation. Upon closing, the combined entity will trade under ticker AGLT and become the first publicly traded pure-play humanoid robotics company in the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Churchill Capital Corp XI IPO Units
• Agility Robotics SPAC Merger

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Peers

• Boston Dynamics:

Emerging players

• Figure AI: Well-capitalized humanoid robotics startup pursuing warehouse and general-purpose humanoid applications with Figure 01/02 platform. Directly comparable to Agility's Digit in target market, customer profile, and product category, and represents the most aggressive private competitor.

Direct peers

• Churchill Capital Corp IX: Direct peer SPAC under the same Michael Klein sponsor platform with comparable structure, IPO mechanics, and target-acquisition mandate. Operating from the same 640 Fifth Avenue, New York address and sharing sponsor economics, governance templates, and Citigroup bookrunner relationships.
• Churchill Capital Corp X: Sister SPAC under Michael Klein's Churchill Capital platform with identical structural and governance characteristics as Churchill XI. Same founder, same IPO mechanics, and same business-combination mandate, making it the closest direct comparable for SPAC-level analysis.
• Agility Robotics (target): Pre-merger operating target of Churchill XI; post-close it becomes the operating company. As the entity whose $2.5B pre-money valuation defines Churchill XI's equity value, it is the most directly relevant peer for forward-looking business analysis.
• Churchill Capital Corp XII: Latest entity in the Churchill Capital SPAC series from the same sponsor. Shares the Michael Klein platform economics, governance framework, and acquisition mandate, and is being managed contemporaneously with Churchill XI, providing a near-perfect structural peer.

Broad incumbents

• Tesla (Optimus): Tesla's Optimus humanoid robot program targets the same warehouse and manufacturing labor-automation market as Agility's Digit. While Tesla is a broad incumbent across EVs and energy, its humanoid initiative is a credible competitor with significant balance sheet, manufacturing infrastructure, and brand advantages.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Churchill Capital Corp XI