Agility Robotics appointed Michael Beer as Chief Financial Officer on July 23, 2026, strengthening its leadership team ahead of a planned public listing via its business combination with Churchill Capital Corp XI (NASDAQ: CCXI). The merger is expected to generate more than $620 million in gross proceeds, providing capital to accelerate production and expand customer deployments for the Salem, Oregon-based humanoid robotics company.

Jennifer Hunter, who previously served as both Chief Financial Officer and Chief Operating Officer, will transition to serving exclusively as Chief Operating Officer. This structural change separates financial oversight from operational execution, a standard governance requirement for public companies. Beer assumes the CFO role immediately, overseeing finance, capital markets, treasury, and investor relations, while Hunter focuses on scaling global operations, manufacturing, and supply chain networks.

Leadership Transition

The appointment addresses the increasing complexity of managing a public entity. Agility Robotics aims to provide focused attention to both financial reporting and operational growth. Beer brings extensive experience from his previous role as CFO and Head of Corporate Services at Energy Vault Holdings (NYSE: NRGV). Earlier in his career, he served as an equity research analyst at Citigroup, Wolfe Research, and Bear Stearns, covering transportation, logistics, and infrastructure sectors.

Hunter’s shift to COO reflects her instrumental role in building the company’s operational foundation during its rapid growth phase. She will lead the scaling of manufacturing capabilities to support customer deployments as the company accelerates commercialization.

Strategic Context and Commercial Momentum

The leadership evolution coincides with accelerating commercial momentum for Agility Robotics. The company continues to expand deployments with industry-leading customers including Schaeffler, GXO, and Toyota Motor Manufacturing Canada. Additionally, Agility has advanced a robust pipeline of more than 30 enterprise customers across logistics, manufacturing, and supply chain operations.

The proposed transaction involves a registration statement on Form S-4 filed with the Securities and Exchange Commission (SEC). Churchill Capital Corp XI intends to distribute preliminary and definitive proxy statements to its shareholders for voting on the transaction. The merger is supported by leading strategic investors and partners, including NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global.

What the Numbers Show

While no specific revenue or profit figures were disclosed in the announcement, the separation of the CFO and COO roles signals a maturation of internal controls required for public market compliance. The expected $620 million in gross proceeds from the Churchill Capital Corp XI merger provides significant liquidity for a company historically focused on R&D and early-stage commercialization. This capital infusion, combined with Beer’s background in capital markets and Hunter’s operational focus, positions Agility Robotics to scale production rapidly while maintaining rigorous financial oversight as it transitions from a private to a publicly traded entity.

Agility Robotics and Churchill Capital Corp XI have confidentially submitted a draft registration statement on Form S-4 with the U.S. Securities and Exchange Commission for a proposed business combination. The transaction is expected to provide more than $620 million in gross proceeds, positioning the combined entity as the only U.S. publicly listed pure-play humanoid company with proven, active commercial deployments. The deal is anticipated to close in 2026, subject to shareholder and regulatory approvals.

The proposed business combination will result in Agility becoming a publicly traded company, listed on a major North American exchange under the ticker symbol "AGLT." The gross proceeds are expected to comprise $421 million of cash held in Churchill XI's trust account, assuming no redemptions, and approximately $201 million of incremental financing through a common stock. This financing includes participation from leading existing and new institutional investors.

Agility Robotics intends to utilize the proceeds to fulfill existing customer orders, expand commercial deployments, and scale production of its next-generation humanoid robot, Digit v5. The company plans to continue investing in its integrated platform, which spans robotics, physical AI, software, safety systems, and manufacturing infrastructure. The company's flagship robot, Digit, is currently commercially deployed with enterprises such as Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre.

The transaction is contingent upon several conditions, including approval by Churchill XI shareholders, SEC review of the registration statement on Form S-4, and receipt of required regulatory approvals. Additionally, the relevant stock exchange must approve the listing of the combined company's securities. Churchill XI is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

Key Transaction Details

Agility Robotics is supported by strategic investors and partners including NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global. The company's mission focuses on building robot partners to augment the human workforce through the adoption of humanoids in various operational environments.