Agility Robotics Shares Slide in Nasdaq Debut
Agility Robotics began trading on Nasdaq Thursday a day after closing its merger with a special purpose acquisition company and $465 million raise, according to OregonLive. Its shares fell as low as $8.40 before recovering to $10.68 later in the morning.
The Oregon company makes its two-legged Digit robot at a 70,000-square-foot factory in Salem. Digit is designed to work in warehouses up to 20 hours a day, repeatedly lifting 50-pound loads.
Agility reported $1.8 million in sales and a $168 million loss last year. The company says it has several customers and conditional orders potentially worth $300 million, while its market capitalization is about $2 billion.
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