secwatch.observer — SEC 8-K summary
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Issuer:     Churchill Capital Corp XI (CCXI)
CIK:        0002074973
Form:       8-K
Filed at:   2026-06-24T11:01:01+00:00
Accession:  0001213900-26-071287
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Churchill SPAC to merge with Agility Robotics at $2.5B pre-money valuation with $200M PIPE
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- Agility Robotics acquired at $2.5B pre-money; SPAC to domesticate in Delaware and rename to Agility Robotics, Inc.
- PIPE investment of ~$200M at $10.00/share from institutional investors; deal requires $200M minimum cash in trust after redemptions.
- Sponsor and insiders agree not to redeem; lock-up on new shares for 180 days unless VWAP exceeds $12 for 15 trading days.
- Transaction expected to close by Dec 31, 2026, subject to shareholder approvals, HSR clearance, and Nasdaq listing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026071287/0001213900-26-071287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026071287/ea0295484-8k425_church11.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-071287

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer