Churchill Capital Corp XI filed a Form 425 on October 28, 2026, containing a transcript of a SPACInsider podcast interview with Agility Robotics CFO Michael Beer and Chief Business Officer Daniel Diez discussing the proposed $2.5 billion business combination between Churchill Capital Corp XI and Agility Robotics, Inc.

Key Highlights

  • Transaction size: The proposed business combination between Churchill Capital Corp XI and Agility Robotics is valued at $2.5 billion, according to the filing.
  • Current deployments: According to the filing, Agility has commitments at nine different customer sites for its Digit robot, with a stated goal of reaching 25 sites by end of 2027.
  • Named customers: The filing identifies Amazon, GXO, Schaeffler, and Toyota as customers where Digit has been publicly deployed.
  • Digit Five battery upgrade: The filing states the next-generation Digit Five robot features a battery with a 10-to-1 charge ratio, versus the current robot's 2-to-1 ratio, enabling nine minutes of charging to power 90 minutes of work.
  • NVIDIA partnership: The filing discloses that Digit Five robots will run on NVIDIA's Thor modules, deepening a partnership the company says spans multiple years including use of Isaac Sim and Project Groot.
  • Focus market: The filing describes bulk material handling in manufacturing and warehousing, specifically tote manipulation, as the beachhead use case for Digit Four deployments.

Agility Robotics and Churchill XI Outline Commercialization Path in Podcast Transcript

The Form 425 filing, submitted by Churchill Capital Corp XI (File No. 001-43020) pursuant to Rule 425 under the Securities Act of 1933 and deemed filed under Rule 14a-12 of the Securities Exchange Act of 1934, reproduces a full transcript of a SPACInsider podcast. In the interview, Michael Beer, CFO of Agility Robotics, and Daniel Diez, Chief Business Officer, speak with host Nicholas Clayton about the proposed combination and the company's commercial progress.

Daniel Diez described Digit Four as focused on tote manipulation tasks in manufacturing and logistics environments, characterizing the target labor as "highly repetitive, difficult to recruit for, and difficult to retain for because those jobs have high ergonomic risk." He stated that the next-generation Digit Five was "completely informed by operational data and customer feedback from real-world commercial deployments." Key improvements cited in the transcript include cooperative safety for working near people, support for an ecosystem of interchangeable end effectors via ISO flanges, and the new battery system capable of supporting over 20 hours of work per day across three shifts.

Michael Beer noted his prior experience at Luminar and Energy Vault as informing his perspective on the SPAC route to market. The filing attributes to Beer the characterization that Agility has "achieved a certain level of maturity and commercial traction" relative to other high-growth technology companies. The filing contains forward-looking statements, including the 2027 customer site goal, which are the company's own and subject to its cautionary language.

What Was Disclosed

Churchill Capital Corp XI filed a Form 425 containing a podcast transcript in which Agility Robotics executives discussed the $2.5 billion proposed business combination, current Digit Four deployments at named enterprise customers, and technical specifications for the forthcoming Digit Five robot.