Agility is the first pure humanoid robot company on the stock market. Are you buying?

Almost a year ago to the day, Figure AI CEO Colby Adcock responded to some gentle social media taunting from rival robotics company Agility with a prediction: “You’ll be bankrupt in <12 months.”

Instead, Agility is going public through a reverse-merger that will see it become a publicly-traded company and raise $465 million in new capital from retail investors and a tranche of private funding. The transaction will take place through a special purpose acquisition company, or SPAC.

“You don’t see a lot of dancing robots or backflipping robots from Agility,” CEO Peggy Johnson told TechCrunch ahead of the company’s market debut. “We stuck to our strategy, which [are] these manual, very repetitive jobs, that it’s hard to find humans to do.”