Form 8-K

8-K — Churchill Capital Corp XI

Accession: 0001213900-26-109077

Filed: 2026-10-13

Period: 2026-10-13

CIK: 0002074973

SIC: 3569 (GENERAL INDUSTRIAL MACHINERY & EQUIPMENT, NEC)

Item: Other Events

Item: Financial Statements and Exhibits

Documents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

October 13, 2026

CHURCHILL CAPITAL CORP XI

(Exact name of registrant as specified in its

charter)

Cayman Islands

001-43020

86-1959629

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

640 Fifth Avenue, 14th Floor

New York, NY 10019

(Address of principal executive offices, including

zip code)

Registrant’s telephone number, including

area code: (212) 380-7500

Not Applicable

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant

to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant

to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications

pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications

pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Units, each consisting of one Class A ordinary share and one-tenth of one redeemable warrant

CCXIU

The Nasdaq Stock Market LLC

Class A ordinary shares, par value $0.0001 per share

CCXI

The Nasdaq Stock Market LLC

Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share

CCXIW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Explanatory Note

As previously disclosed, on

June 24, 2026, Churchill Capital Corp XI, a Cayman Islands exempted company (“Churchill”) entered into an Agreement

and Plan of Merger (as amended, modified, supplemented or waived from time to time, the “Merger Agreement”) by and

among Churchill, BLB Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of Churchill (“Merger Sub”),

and Agility Robotics, Inc., a Delaware corporation (“Agility”). The transactions contemplated by the Merger Agreement

are referred to herein as the “proposed transaction.”

Item 8.01 Other Events.

On October 13, 2026,

Churchill and Agility jointly announced that, on October 13, 2026, the U.S. Securities and Exchange Commission (the

“SEC”) declared effective the registration statement on Form S-4 (File No. 333-298781) (as amended, the

“Registration Statement”) filed by Churchill and Agility with the SEC relating to the previously announced

proposed transaction. The Registration Statement was originally filed on September 4, 2026.

The extraordinary general meeting of shareholders of Churchill will

be held on November 2, 2026, at 9:00 a.m. Eastern Time, at the offices of Willkie Farr & Gallagher LLP at 787 Seventh Avenue, New York,

New York 10019, and via a virtual meeting at https://www.cstproxy.com/churchillcapitalxi/2026.

The Registration Statement contains a proxy statement/prospectus

of Churchill and Agility in connection with the proposed transaction. The Registration Statement, and the proxy statement/prospectus contained

within, provides important information about Churchill, Agility and the proposed transaction. A copy of the press release is attached

hereto as Exhibit 99.1 and is incorporated herein by reference.

Additional Information About the Proposed Transaction and Where

to Find It

The proposed transaction

will be submitted to shareholders of Churchill for their consideration. Churchill has filed the Registration Statement with the SEC,

which was declared effective by the SEC on October 13, 2026, and which includes a definitive proxy statement/prospectus. The

definitive proxy statement/prospectus and other relevant documents have been distributed to Agility stockholders and to Churchill

shareholders of record as of September 14, 2026, the record date established for voting on the proposed transaction, in connection

with Churchill’s solicitation of proxies for the vote by Churchill’s shareholders in connection with the proposed

transaction and other matters described in the Registration Statement, as well as the prospectus relating to the offer of the

securities to be issued to Agility stockholders in connection with the completion of the proposed transaction. Before making any

voting or investment decision, Churchill and Agility stockholders and other interested persons are advised to read the definitive

proxy statement/prospectus, as well as other documents filed with the SEC by Churchill in connection with the proposed transaction,

as these documents contain important information about Churchill, Agility and the proposed transaction. Shareholders may obtain a

copy of the definitive proxy statement/prospectus as well as other documents filed by Churchill with the SEC, without charge, at the

SEC’s website located at www.sec.gov or by directing a written request to Churchill Capital Corp XI, 640 Fifth Avenue, 14th

Floor, New York, NY 10019.

Forward-Looking Statements

This Current Report on Form

8-K includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may

be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,”

“will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,”

“could,” “may,” “might,” “possible,” “potential,” “predict,” “should,”

“would” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters,

but the absence of these words does not mean that a statement is not forward-looking. We have based these forward-looking statements on

current expectations and projections about future events. These statements include statements relating to, without limitation: our ability

to consummate the proposed transaction and PIPE and the satisfaction or waiver of the closing conditions set forth in the proposed transaction

or PIPE subscription agreements; the occurrence of any other event, change or other circumstance that could give rise to the termination

of the proposed transaction or PIPE subscription agreements; projections of market opportunity and market share; estimates of customer

adoption rates, market acceptance and usage patterns; projections regarding Agility’s future development plans; the timing and success

of Agility’s future development plans; the ability of Agility to implement its strategic initiatives and continue to innovate its

existing products and services; the expected timing of availability, performance characteristics, technical specifications and capabilities of Digit 5, including its

cooperative safety capabilities; Agility’s orders for Digit 5 and its ability to convert such orders into revenue, including the

satisfaction of the contractual milestones, product features and specifications to which those orders are subject; Agility’s customer

pipeline and its plans to expand its pipeline and committed customer facility deployments; Agility’s manufacturing capacity, including

the production capacity of RoboFab, and its production plans; Agility’s strategic partnerships and commercial agreements, including

with NVIDIA and Toyota Motor Manufacturing Canada; and the expected listing of the combined company’s common stock on the Nasdaq

Stock Market, the potential for share price appreciation; the expected timing of announcement and close of the potential

transaction; Agility’s economic opportunity and total addressable market; the expected amount of gross transaction proceeds and

the planned pre-money valuation of Agility; expectations regarding Agility’s ability to attract, retain and expand its customer

base; Agility’s deployment of proceeds from capital raising transaction; Agility’s expectations concerning relationships with

strategic partners, suppliers, regulatory bodies and other third parties; Agility’s ability to maintain, protect and enhance its

intellectual property; future ventures or investments in companies, products, services or technologies; development of favorable regulations

affecting Agility’s markets; the potential benefits of the proposed transaction and expectations related to its terms and timing;

and the potential for the combined company to increase in value.

These forward-looking statements

are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance,

a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict

and will differ from assumptions, many of which are beyond the control of Agility and Churchill.

These forward-looking

statements are subject to known and unknown risks, uncertainties and assumptions that may cause Churchill’s actual results,

levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance

or achievements expressed or implied by such statements. Such risks and uncertainties include: that Agility is pursuing an emerging

technology, faces significant technical challenges and may not achieve commercialization or market acceptance; Agility’s

historical net losses and limited operating history; Agility’s expectations regarding future financial performance, capital

requirements and unit economics; Agility’s use and reporting of business and operational metrics; Agility’s competitive

landscape; Agility’s dependence on members of its senior management and its ability to attract and retain qualified personnel;

the potential need for additional future financing; the capital requirements of Agility’s business plans; Agility’s

ability to manage growth and expand its operations; potential future acquisitions or investments in companies, products, services or

technologies; Agility’s reliance on strategic partners and other third parties; Agility’s reliance on global supply

chains and the risk that disruptions, tariffs, or trade restrictions could delay production, increase costs, and limit

Agility’s ability to fulfill customer orders; Agility’s ability to maintain, protect and defend its intellectual

property rights; risks associated with privacy, data protection or cybersecurity incidents and related regulations; risks associated

with product liability, workplace safety regulations and potential injuries arising from the deployment of humanoid robots alongside

human workers; the use, rate of adoption and regulation of artificial intelligence and machine learning; the evolving regulatory

landscape for AI technologies across multiple jurisdictions and the risk that failure to comply with new or changing AI laws could

result in enforcement actions, fines or restrictions on Agility’s ability to develop or deploy its products; uncertainty or

changes with respect to laws and regulations; uncertainty or changes with respect to taxes, trade conditions and the macroeconomic

environment; the combined company’s ability to maintain internal control over financial reporting and operate as a public

company; the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the

price of Churchill’s securities; the failure by the parties to satisfy the conditions to consummation of the proposed

transaction, including the approval of Churchill’s shareholders; the possibility that required regulatory approvals for the

proposed transaction are delayed or are not obtained, which could adversely affect the combined company or the expected benefits of

the proposed transaction; the risk that shareholders of Churchill could elect to have their shares redeemed, leaving the combined

company with insufficient cash to execute its business plans; the level of redemptions of Churchill’s public shareholders; the

ability of Agility to grow and manage growth, maintain relationships with customers and strategic partners, and retain its

management and key employees; costs related to the proposed transaction; the occurrence of any event, change or other circumstance

that could give rise to the termination of the Merger Agreement; the outcome of any legal proceedings or government investigations

that may be commenced against Agility or Churchill; failure to realize the anticipated benefits of the proposed transaction;

Agility’s estimates of expenses and profitability; the evolution of the markets in which Agility competes; risks related to Agility's ability to satisfy contractual milestones and achieve anticipated manufacturing capacity and production targets;

Agility's ability to convert orders and pipeline into revenue; risks related to the development, commercialization and market acceptance

of Digit 5 and related technologies; the ability of

Churchill or the combined company to issue equity or equity-linked securities in connection with the proposed transaction or in the

future; and other factors described in Churchill’s filings with the SEC. Additional information concerning these and other

factors that may impact such forward-looking statements can be found in filings and potential filings by Agility, Churchill or the

combined company resulting from the proposed transaction with the SEC, including under the heading “Risk Factors.” If

any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by

these forward-looking statements. In addition, these statements reflect the expectations, plans and forecasts of Agility’s and

Churchill’s management as of the date of this Current Report on Form 8-K; subsequent events and developments may cause their

assessments to change. While Agility and Churchill may elect to update these forward-looking statements at some point in the future,

they specifically disclaim any obligation to do so. Accordingly, undue reliance should not be placed upon these statements.

In addition, statements that

“we believe” and similar statements reflect Churchill’s beliefs and opinions on the relevant subject. These statements

are based upon information available to us as of the date of this Current Report on Form 8-K, and while we believe such information forms

a reasonable basis for such statements, such information may be limited or incomplete, and Churchill’s statements should not be

read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These

statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

An investment in Churchill

is not an investment in any of Churchill’s founders’ or sponsors’ past investments, companies or affiliated funds. The

historical results of those investments are not indicative of future performance of Churchill, which may differ materially from the performance

of Churchill’s founders’ or sponsors’ past investments.

Participants in the Solicitation

Churchill, Agility and certain

of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be

participants in the solicitation of proxies from Churchill’s shareholders in connection with the proposed transaction. Information

regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Churchill’s shareholders in connection

with the proposed transaction is set forth in the definitive proxy statement/prospectus filed by Churchill with the SEC. You can find

more information about Churchill’s directors and executive officers in Churchill’s final prospectus related to its initial

public offering filed with the SEC on December 16, 2025. Additional information regarding the participants in the proxy solicitation and

a description of their direct and indirect interests is included in the definitive proxy statement/prospectus. Shareholders, potential

investors and other interested persons should read the definitive proxy statement/prospectus carefully, before making any voting or investment

decisions. You may obtain free copies of these documents from the sources described above.

No Offer or Solicitation

This Current Report on Form

8-K does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval,

nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration

or qualification under the securities laws of any such jurisdiction. This Current Report on Form 8-K is not, and under no circumstances

is to be construed as, a prospectus, an advertisement or a public offering of the securities described herein in the United States or

any other jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of

the Securities Act of 1933, as amended, or exemptions therefrom. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY

THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR

ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits:

Exhibit

No.

Description

99.1

Press Release, dated October 13, 2026

104

Cover Page Interactive

Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements

of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

CHURCHILL

CAPITAL CORP XI

Date:

October 13, 2026

By:

/s/

Jay Taragin

Name:

Jay

Taragin

Title:

Chief

Financial Officer

EX-99.1 — PRESS RELEASE, DATED OCTOBER 13, 2026

EX-99.1

Filename: ea030849601ex99-1.htm · Sequence: 2

Exhibit 99.1

Agility Robotics and Churchill Capital Corp

XI S-4 Registration Statement Declared Effective by SEC in

Connection with Proposed Business Combination

Churchill XI has set a shareholder meeting date

of November 2, 2026 to approve the proposed business combination and related matters.

Transaction expected to create the only U.S.

publicly listed pure-play humanoid company with proven, active commercial deployments.

Agility expected to trade under ticker symbol

AGLT following closing.

SALEM, Ore. and NEW YORK – Oct. 13, 2026

— Agility Robotics, Inc. (“Agility” or the “Company”), a leading humanoid robotics and physical AI company,

today announced that its joint registration statement on Form S-4 (the “Registration Statement”) with Churchill Capital Corp

XI (Nasdaq: CCXI) (“Churchill XI”), filed with the Securities and Exchange Commission (the “SEC”) in connection

with the proposed business combination between Agility and Churchill XI, was declared effective by the SEC on October 13, 2026. This represents

an important step in the process toward completion of the previously disclosed proposed business combination between Agility and Churchill

XI. Churchill XI has set a meeting date of November 2, 2026 for its extraordinary general meeting to approve the proposed business combination

and related matters.

Agility develops humanoid robotics and physical

AI systems that augment the human workforce by automating repetitive and physically demanding tasks. With more than a decade of development,

Agility has established itself as one of the only humanoid robotics companies with multiple years of operational experience in real customer

environments, with commercial deployments and agreements across leading enterprises, including Schaeffler, GXO, and Toyota Motor Manufacturing

Canada. Earlier generations of Digit have accumulated more than 65,000 hours of real-world operation, generating proprietary deployment

data that informs the Company’s physical AI capabilities and supports continuous improvements in robot performance, reliability,

and skills. The recently unveiled Digit 5 is engineered for cooperative safety, with the goal of enabling robots to work in close proximity

to people and automate a broader range of industrial workflows. Supporting commercial scale are Agility Arc, the Company’s cloud-based

automation platform for integrating Digit into customer operations and managing robot fleets across facilities, and RoboFab, its humanoid

manufacturing facility designed to produce up to 10,000 robots annually. The Company is supported by leading strategic investors and partners

across the AI, technology, venture capital, and industrial ecosystem, including DCVC, NVIDIA, SoftBank Vision Fund 2, Schaeffler, Foxconn,

Abico, and Playground Global.

The combination of proven commercial deployments,

growing customer demand, proprietary physical AI capabilities, cooperative safety leadership, and integrated deployment and manufacturing

infrastructure positions Agility to capitalize on the growing adoption of humanoid robotics.

The proposed business combination is expected

to provide more than $620 million in gross proceeds, including approximately $424 million of cash held in Churchill XI’s trust account

(assuming no redemptions by Churchill XI shareholders) and approximately $200 million of incremental capital through a common stock PIPE

led by Foxconn, with participation from leading existing and new institutional investors. Agility intends to use the transaction proceeds

to fulfill existing customer orders, expand commercial deployments, scale production of Digit 5, and continue investing in its integrated

platform spanning robotics, physical AI, software, safety systems, and manufacturing infrastructure.

Agility is approaching its public listing with

significant momentum, supported by key commercial, technology, and organizational milestones achieved in 2026:

● Unveiled Digit 5, backed by more than

$300 million in committed orders (subject to the satisfaction of certain contractual milestones, product features and/or specifications) and on track for

early access customer availability in early 2027, introducing its next-generation humanoid robot designed for cooperatively safe work

at scale, with planned improvements in lifting capacity, battery performance, and dexterity to address a broader range of commercial applications.

● Selected by NVIDIA as the launch partner for

NVIDIA Halos, the industry’s first full-stack safety system for physical AI and humanoid robotics, building on a longstanding

collaboration to advance the safe deployment of humanoid robots at scale.

● Secured a commercial agreement with Toyota

Motor Manufacturing Canada following a successful pilot, establishing a Robot-as-a-Service (“RaaS”) agreement to deploy

Digit in manufacturing, supply chain, and logistics operations, with opportunities to expand into additional automotive production workflows.

● Targeting significant commercial expansion

through year-end 2027, with goals to grow its pipeline from more than 30 potential customers currently in active discussions or its

Customer Acceleration Program (“CAP”) to approximately 100, and increase committed customer facility deployments from nine

today to up to 25.

● Expanded the infrastructure to develop and

manufacture humanoid robots at scale, opening a new hardware and physical AI development hub in Fremont, California, in July 2026,

complementing its RoboFab facility in Salem, Oregon, which is designed to produce up to 10,000 robots annually.

● Deepened partnership with FORT Robotics to

advance cooperative safety, supporting the development of humanoid robots designed to work alongside people and take on increasingly

complex commercial workflows.

● Announced planned public-company board appointments

of Merline Saintil, Derek Aberle, and Pierre Gentin, bringing deep technology, commercialization, and corporate governance experience

to support Agility’s next phase of growth.

Upon closing, the combined company is expected

to be the only U.S. publicly listed pure-play humanoid robotics company with proven, active commercial deployments. The combined company

will operate as “Agility” and its common stock is expected to be listed on the Nasdaq Stock Market under the ticker symbol “AGLT.”

The business combination remains subject to approval by Churchill XI shareholders and other customary closing conditions, and is expected

to close in November 2026.

About Agility

Headquartered in Salem, Oregon, with offices in

Pittsburgh, Pennsylvania and Fremont, California, Agility Robotics’ mission is to build robot partners that augment the human workforce.

Agility’s groundbreaking general-purpose humanoid robot, Digit, is the first multi-purpose, human-centric robot that is Made for Work®

and commercially deployed today. With more than 65,000 hours of real-world operation combined with industry-leading safety standards,

we’re pioneering a new era of automation that enhances human potential. To learn more, visit agilityrobotics.com

Agility, the Agility logo, Digit, Agility

of their respective owners.

About Churchill Capital Corp XI

Churchill XI is a blank check company formed for

the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business

combination with one or more businesses. It may pursue an initial business combination target in any business or industry.

‍Additional Information About the Proposed Transaction and Where

to Find It

The proposed transaction will be submitted to

shareholders of Churchill XI for their consideration. Churchill XI and Agility have jointly filed a registration statement on Form S-4

(the “Registration Statement”) with the Securities and Exchange Commission (“SEC”), which was declared effective

by the SEC on October 13, 2026, and which includes a definitive proxy statement/prospectus. The definitive proxy statement/prospectus

and other relevant documents have been distributed to Company stockholders and Churchill XI shareholders as of September 14, 2026, the

record date established for voting on the proposed transaction, in connection with Churchill XI’s solicitation of proxies for the

vote by Churchill XI’s shareholders in connection with the proposed transaction and other matters described in the Registration

Statement, as well as the prospectus relating to the offer of the securities to be issued to Company stockholders in connection with the

completion of the proposed transaction. Before making any voting or investment decision, Churchill XI and Agility stockholders and other

interested persons are advised to read the definitive proxy statement/prospectus, as well as other documents filed with the SEC by Churchill

XI in connection with the proposed transaction, as these documents contain important information about Churchill XI, the Company and the

proposed transaction. Shareholders may obtain a copy of the definitive proxy statement/prospectus as well as other documents filed by

Churchill XI with the SEC, without charge, at the SEC’s website located at www.sec.gov

or by directing a written request to Churchill Capital Corp XI, 640 Fifth Avenue, 14th Floor, New York, NY 10019.

Forward-Looking Statements

‍This press release includes “forward-looking

statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words

such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,”

“expect,” “anticipate,” “believe,” “seek,” “target,” “continue,”

“could,” “may,” “might,” “possible,” “potential,” “predict,” “should,”

“would” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters,

but the absence of these words does not mean that a statement is not forward-looking. We have based these forward-looking statements on

current expectations and projections about future events. These statements include statements relating to, without limitation: our ability

to consummate the proposed business combination and PIPE and the satisfaction or waiver of the closing conditions set forth in the proposed

business combination or PIPE subscription agreements; the occurrence of any other event, change or other circumstances that could give

rise to the termination of the proposed business combination or PIPE subscription agreements; projections of market opportunity and market

share; estimates of customer adoption rates, market acceptance and usage patterns; projections regarding the Company’s future development

plans; the timing and success of the Company’s future development plans; the ability of the Company to implement its strategic initiatives

and continue to innovate its existing products and services; the potential for share price appreciation; the expected timing of the closing

of the proposed transaction; the Company’s economic opportunity and total addressable market; the expected amount of gross transaction

proceeds; expectations regarding the Company’s ability to attract, retain and expand its customer base; the Company’s expected

use of proceeds from the proposed transaction and the PIPE; the Company’s ability to convert orders for Digit 5 into revenue, including

the satisfaction of the contractual milestones, product features and specifications to which those orders are subject; the Company’s

expectations concerning relationships with strategic partners, suppliers, regulatory bodies and other third parties; the Company’s

ability to maintain, protect and enhance its intellectual property; future ventures or investments in companies, products, services or

technologies; development of favorable regulations affecting the Company’s markets; the potential benefits of the proposed transaction

and expectations related to its terms and timing; and the potential for the combined company to increase in value.

These forward-looking statements are provided

for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction

or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ

from assumptions, many of which are beyond the control of the Company and Churchill XI.

These forward-looking statements are subject to

known and unknown risks, uncertainties and assumptions that may cause the Company’s, Churchill XI’s or the combined company’s

actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity,

performance or achievements expressed or implied by such statements. Such risks and uncertainties include: that the Company is pursuing

an emerging technology, faces significant technical challenges and may not achieve commercialization or market acceptance; the Company’s

historical net losses and limited operating history; the Company’s expectations regarding future financial performance, capital

requirements and unit economics; the Company’s use and reporting of business and operational metrics; the Company’s competitive

landscape; the Company’s dependence on members of its senior management and its ability to attract and retain qualified personnel;

the potential need for additional future financing; the Company’s ability to manage growth and expand its operations; potential

future acquisitions or investments in companies, products, services or technologies; the Company’s reliance on strategic partners

and other third parties; the Company’s ability to maintain, protect and defend its intellectual property rights; risks associated

with privacy, data protection or cybersecurity incidents and related regulations; the use, rate of adoption and regulation of artificial

intelligence and machine learning; uncertainty or changes with respect to laws and regulations; uncertainty or changes with respect to

taxes, trade conditions and the macroeconomic environment; the combined company’s ability to maintain internal control over financial

reporting and operate a public company; the risk that the proposed transaction may not be completed in a timely manner or at all, which

may adversely affect the price of Churchill XI’s securities; the failure by the parties to satisfy the conditions to consummation

of the proposed transaction, including the approval of Churchill XI’s shareholders; the possibility that required regulatory approvals

for the proposed transaction are delayed or are not obtained, which could adversely affect the combined company or the expected benefits

of the proposed transaction; the risk that shareholders of Churchill XI could elect to have their shares redeemed, leaving the combined

company with insufficient cash to execute its business plans; the level of redemptions of Churchill XI’s public shareholders; the

ability of the Company to grow and manage growth, maintain relationships with customers and retain its management and key employees; costs

related to the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination

of the business combination agreement; the outcome of any legal proceedings or government investigations that may be commenced against

the Company or Churchill XI; failure to realize the anticipated benefits of the proposed transaction; the Company’s estimates of

expenses and profitability; the evolution of the markets in which the Company competes; the ability of Churchill XI or the combined company

to issue equity or equity-linked securities in connection with the proposed transaction or in the future; and other factors described

in Churchill XI’s filings with the SEC. Additional information concerning these and other factors that may impact such forward-looking

statements can be found in filings and potential filings by the Company, Churchill XI or the combined company resulting from the proposed

transaction with the SEC, including under the heading “Risk Factors.” If any of these risks materialize or assumptions prove

incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, these statements

reflect the expectations, plans and forecasts of the Company’s and Churchill XI’s management as of the date of this press

release; subsequent events and developments may cause their assessments to change. While the Company and Churchill XI may elect to update

these forward-looking statements at some point in the future, they specifically disclaim any obligation to do so. Accordingly, undue reliance

should not be placed upon these statements.

In addition, statements that “we believe”

and similar statements reflect the Company’s and Churchill XI’s beliefs and opinions on the relevant subject. These statements

are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable

basis for such statements, such information may be limited or incomplete, and the Company’s and Churchill XI’s statements

should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information.

These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

An investment in Churchill XI is not an investment

in any of Churchill XI’s founders’ or sponsors’ past investments, companies or affiliated funds. The historical results

of those investments are not indicative of future performance of Churchill XI, which may differ materially from the performance of Churchill

XI’s founders’ or sponsors’ past investments.

Participants in the Solicitation

‍Churchill XI, the Company and certain

of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be

participants in the solicitation of proxies from Churchill XI’s shareholders in connection with the proposed transaction. Information

regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Churchill XI’s shareholders in connection

with the proposed transaction are set forth in the definitive proxy statement/prospectus . You can find more information about Churchill

XI’s directors and executive officers in Churchill XI’s final prospectus related to its initial public offering filed with

the SEC on December 16, 2025. Additional information regarding the participants in the proxy solicitation and a description of their direct

and indirect interests are included in the proxy statement/prospectus . Shareholders, potential investors and other interested persons

should read the definitive proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free

copies of these documents from the sources described above.

No Offer or Solicitation

‍This press release does not constitute

an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be

any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification

under the securities laws of any such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus,

an advertisement or a public offering of the securities described herein in the United States or any other jurisdiction. No offer of securities

shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions

therefrom. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY

AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION

TO THE CONTRARY IS A CRIMINAL OFFENSE.

Contacts

Agility Media:

Michael Oldenburg

media@agilityrobotics.com

Agility Investors:

Anthony Rozmus

Investor-relations@agilityrobotics.com

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