Michael Stuart Klein, Director, 10% Owner, and former Chief Executive Officer, President, and Chairman of Churchill Capital Corp XI, filed a Form 4 on November 4, 2026, disclosing transactions dated November 2, 2026, related to the consummation of a merger with Agility Robotics, Inc.

Key Highlights

  • Merger closed: On November 4, 2026, transactions under an Agreement and Plan of Merger and Reorganization dated June 24, 2026, were consummated, combining Churchill Capital Corp XI with Legacy Agility Robotics, Inc.
  • Class B conversion: 13,800,000 Class B ordinary shares held by Churchill Sponsor XI LLC automatically converted into Class A ordinary shares, then into common stock on a one-for-one basis upon Domestication.
  • Resulting common stock ownership: Following the reported transactions, 14,525,000 shares of common stock are beneficially owned indirectly through Churchill Sponsor XI LLC.
  • Private placement units separated: 725,000 private placement units (including 225,000 units issued upon settlement of working capital loans) separated into one share and one-tenth of one whole warrant per unit upon Domestication.
  • Warrants retained: 72,500 warrants exercisable at $11.50 per share, expiring December 4, 2026, are held indirectly; according to the filing, they become exercisable 30 days after completion of the Merger and do not expire except upon liquidation.
  • Domestication completed: CCXI's jurisdiction of incorporation changed from the Cayman Islands to the State of Delaware under Section 388 of the Delaware General Corporation Law.

Churchill Sponsor XI LLC Holdings After CCXI Domestication and Merger

According to the filing, the transactions were completed on November 4, 2026, pursuant to a merger agreement dated June 24, 2026, among Agility Robotics, Inc. (formerly Churchill Capital Corp XI, ticker CCXI), BLB Merger Sub, Inc., and Legacy Agility Robotics, Inc. Under the agreement, Merger Sub merged with and into Legacy Agility, with Legacy Agility continuing as the surviving entity and a wholly-owned subsidiary of the issuer. The filing identifies the issuer going forward as Agility Robotics, Inc.

The filing discloses that immediately prior to Domestication, each of the 13,800,000 Class B ordinary shares held by Churchill Sponsor XI LLC automatically converted into Class A ordinary shares on a one-for-one basis. Upon Domestication, each Class A ordinary share converted into common stock of the issuer, par value $0.0001 per share, also on a one-for-one basis. Separately, 725,000 private placement units - including 225,000 units issued upon settlement of Sponsor's working capital loans - separated into one share and one-tenth of one whole warrant per unit. Each share then converted into one share of common stock, and each warrant converted into a warrant to acquire common stock of the issuer.

The filing reports that following all transactions, Churchill Sponsor XI LLC directly holds 14,525,000 shares of common stock and 72,500 warrants exercisable at $11.50 per share, with an expiration date of December 4, 2026. All reported securities are held directly by the Sponsor. According to the filing, Michael Klein is the controlling stockholder of M. Klein Associates, Inc., which is the managing member of the Sponsor. The filing was signed jointly by Klein, M. Klein Associates, Inc., and Churchill Sponsor XI LLC on November 4, 2026.

What Was Disclosed

Three reporting persons - Michael Stuart Klein, Churchill Sponsor XI LLC, and M. Klein Associates, Inc. - disclosed conversion and separation transactions on November 2, 2026, resulting in indirect beneficial ownership of 14,525,000 shares of common stock and 72,500 warrants in the newly reorganized Agility Robotics, Inc.