JFB Construction and XTEND agree to $1.5 billion defense robotics merger

JFB Construction Holdings (NASDAQ: JFB) announced it entered into a definitive agreement to combine with XTEND, a defense technology company, in an all-stock transaction valued at $1.5 billion based on concurrent private placement pricing.

The merger includes strategic investments from Eric Trump, Unusual Machines (NYSE: UMAC), American Ventures LLC, Protego Ventures, and Aliya Capital. Following completion, the combined company will be renamed XTEND AI Robotics and trade on Nasdaq under ticker "XTND."

XTEND develops autonomous defense systems using its XOS operating system for air, ground, and maritime applications. The company operates a production facility in Tampa, Florida, and claims more than 10,000 operational systems deployed globally.

Under the merger terms, XTEND shareholders will own approximately 70% and JFB shareholders will own approximately 30% of the combined company's fully diluted shares. Both companies' boards unanimously approved the transaction, which received approval from JFB shareholders holding a majority of outstanding common stock.

"The demand for systems that keep operators out of harm's way is surging as the global security environment grows more volatile," said Aviv Shapira, XTEND's chief executive officer and co-founder.

Joseph F. Basile III, JFB's chief executive officer, stated the merger would pair "XTEND's operating system and advanced AI capabilities with JFB's execution, infrastructure, and buildout expertise."

The transaction expects to close in mid-2026. JFB Construction provides residential and commercial construction services across 36 US states. The merger aims to expand XTEND's US manufacturing capacity and accelerate product delivery to customers in the US, NATO allies, and Asia.

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