Agility, the Oregon company that spun out of Oregon State University, has been heading for the public markets since June. That’s when it announced plans to go public via SPAC at a $2.5 billion pre-money equity valuation. Well, the vote just happened. Churchill Capital Corp XI shareholders approved the merger at a special meeting on November 2, 2026.
More than 84% of votes cast were in favor. The deal is expected to close November 4, 2026. It’s subject to closing conditions. And trading on Nasdaq is expected to start November 5, 2026, under the ticker AGLT.
At a special meeting held today, Churchill XI shareholders approved the business combination (the “Transaction”) and all related proposals. The Transaction received overwhelming support, with more than 84% of votes cast voting in favor.
As previously disclosed in the October 30 announcement, Agility’s gross capital raise in connection with the Transaction and related financings is expected to total approximately $465 million, before transaction expenses. This includes: (i) approximately $164 million from Churchill XI’s trust account; (ii) approximately $201 million from a common stock PIPE committed at $10 per share, led by Foxconn with participation from leading existing Agility stockholders and new institutional investors; and (iii) $100 million of equity funding already received following the announcement of the business combination.
In June, the expectation was roughly $620 million in gross proceeds, about $420 million of it from the trust. The trust piece is now about $164 million, because holders of roughly 61.5% of Class A shares redeemed, per the SEC 8-K.
Still a significant infusion of capital for an Oregon company.
For more, read the Agility press release and the SEC 8-K.
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