BusinessThursday, November 5
Salem's Agility Robotics starts trading on Nasdaq today after closing a $465 million deal
The Daily Salem team
Salem's own Agility Robotics starts trading on the Nasdaq today under the symbol AGLT. The company closed a deal Wednesday to raise $465 million by merging with a SPAC, a publicly traded investment fund. Shareholders in that fund approved the deal Monday, with more than 84% of votes cast in favor.
Digit is a 300-pound humanoid robot that walks on two legs, lifts 50 pounds and, Agility says, can work 20 hours a day. It works in GXO Logistics warehouses, and Agility says it has deals with at least seven other businesses and $300 million in tentative orders.
Agility is still young, but it's pricing itself big
- $1.8 million
- in sales last year
- $168 million
- loss last year
- $2.5 billion
- expected market value when trading starts
Source: OregonLive.com
- Price: about $400,000 to buy Digit and operate it for five years
- Staff: about 500 employees, 175 at the Salem robot factory
- New office near Silicon Valley will employ 200
- In talks with more than 30 prospective customers
That market value would make Agility the sixth-most-valuable company based in Oregon, right behind Columbia Sportswear.
Sources: OregonLive.com, markets.businessinsider.com