Curious about that planned Agility IPO via SPAC…? Sure. We all are. If only we could get some time with their executive leadership to lear… What’s that? Really? TechCrunch, you say? Well, let’s get into that then.
Johnson — formerly executive vice president of business development at Microsoft, where she helped engineer the $26 billion acquisition of LinkedIn, and later CEO of Magic Leap, the once-hyped augmented reality headset maker — was careful throughout our conversation. She declined to offer forward-looking financial guidance, declined to disclose the bill of materials for Agility’s flagship robot Digit, and pushed back politely whenever questions veered toward speculation.
Asked why Agility is going public via a SPAC rather than raising another private round — a structure that skips the roadshow and pricing scrutiny of a traditional IPO — Johnson said much of it boils down to the first-mover advantage the company enjoys when it’s the first of its ilk to go public. For investors clamoring for shares in a buzzy robotics company, Agility is “an acceleration story and a timing story,” she said. The proceeds will also help Agility ramp up production at its 70,000-square-foot manufacturing facility in Salem, Oregon, and fulfill an existing pipeline of customer orders.
For more, read “This humanoid robotics company is going public, but its CEO isn’t promising a robot in your home anytime soon.”
