secwatch.observer — SEC 8-K summary
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Issuer:     Churchill Capital Corp XI (CCXI)
CIK:        0002074973
Form:       8-K
Filed at:   2026-11-06T21:18:25+00:00
Accession:  0001213900-26-116898
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 5.06, 9.01, 4.01, 3.02, 3.03, 5.03, 8.01, 5.01, 5.02, 5.05
LLM model:  deepseek-v4.1-flash:cloud@v2

Agility Robotics closes SPAC merger at $2.5B equity value; 242.1M shares outstanding post-close
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- Merger with Churchill Capital Corp XI closed Nov 4, 2026; Legacy Agility holders received ~191.8M shares at a $2.5B equity value, exchange ratio 9.202, $10.287364/share.
- 25,451,804 Class A shares were redeemed for ~$261.8M (~$10.29/share), leaving ~$164.1M in trust; PIPE added 20,102,500 shares at $10.00 for $201.0M gross.
- $100M of July 2026 SAFEs converted into ~12,960,557 shares (~5.35% of post-close); 242,089,880 shares of Common Stock outstanding at closing.
- Former Legacy Agility options/RSUs assumed cover ~61.0M shares; new holders face a 180-day lock-up that lifts early if VWAP tops $12.00 for 15 days.
- Company domesticated to Delaware as Agility Robotics, Inc., HQ in Salem, OR; Common Stock trades on Nasdaq as AGLT, warrants as AGLTW at $11.50 strike.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026116898/0001213900-26-116898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2074973/000121390026116898/ea0311204-8k_churchill11.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-116898

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