Latest issueJudge denies Salem's bid to stop Detroit Lake drawdownRead now

← Salem news

BusinessThursday, November 5

Salem's Agility Robotics starts trading on Nasdaq today after closing a $465 million deal

The Daily Salem teamFrom today’s edition · 1 min read · 2 sources

ShareEmailFacebookX

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 , a publicly traded investment fund. Shareholders in that fund approved the deal Monday, with more than 84% of votes cast in favor.

Agility expects about $465 million from three sources

Source: markets.businessinsider.com

View as table
AmountShare
Churchill XI trust account$164M35.3%
Stock sale led by Foxconn$201M43.2%
Equity funding already received$100M21.5%

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
  • 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

Read it in the full edition

More from today’s edition

Read the edition