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17 February 2026
JFB Construction Holdings, a real estate development and construction company, announced today that it has entered into a definitive agreement to combine with XTEND, a software-first defense technology company anchored by its AI XTEND Operating System (XOS) in an all-stock transaction. The business combination is further supported by strategic investments from Eric Trump, Unusual Machines (NYSE: UMAC), American Ventures, LLC, Protego Ventures, and Aliya Capital. Following the closing of the business combination, the joint company is expected to be renamed XTEND AI Robotics and be listed on Nasdaq under the ticker “XTND.”
Key Points
- • Strategic investors in the merger include Eric Trump, Unusual Machines (NYSE: UMAC), American Ventures, LLC, Protego Ventures, Aliya Capital and Agostinelli Group.
- • Implied acquisition value of $1.5 billion, based on the price paid per share in concurrent private placement.
- • Merger to create an autonomous defense and security systems company combining AI-driven robotic operating system with established US operating and infrastructure capabilities, strengthening the security of the United States and its allied nations.
With headquarters and a production facility in Tampa, FL, the combined company expects to be well positioned to become a leading US provider of AI-driven autonomous defense and security solutions. XTEND delivers next-generation autonomous systems for defense, public safety, and private security applications built on its battle proven XOS operating system. XTEND’s products utilize remote operational capabilities, enabling multiple air, ground, and maritime drones to execute complex, dynamic missions with immediate operational readiness.
The transaction is also expected to support the expansion and increased NDAA-compliant, US-made domestic production capacity at XTEND’s Tampa, Florida production facility and ultimately accelerate the delivery of XTEND products to customers in the US, NATO allies, and Asia.
“The demand for systems that keep operators out of harm’s way is surging as the global security environment grows more volatile, and this represents one of the largest market opportunities in defense technology today," commented Aviv Shapira, Chief Executive Officer and Co-Founder of XTEND. "By combining our platform with JFB, we are acquiring the resources we need to scale our manufacturing capabilities in the US and gaining access to the US public markets.”
“What drew us to XTEND is the strength and scalability of its AI-driven operating system," said Joseph F. Basile III, Chief Executive Officer of JFB. "XOS is not just a product, but a core autonomy platform that integrates software, hardware, and mission execution in real-world environments. By pairing XTEND’s operating system and advanced AI capabilities with JFB’s execution, infrastructure, and buildout expertise, we see a clear opportunity to accelerate US manufacturing, scale production responsibly, and support a next-generation defense technology platform built in America and ready for the public markets.”
Under the terms of the merger agreement, XTEND shareholders and JFB shareholders will receive shares of a new holding company, XTEND AI Robotics. Upon the closing of the transaction, current XTEND shareholders would own approximately 70.0% and JFB shareholders would own approximately 30.0% of XTEND AI Robotics’ fully diluted shares on a pro forma basis, not including shares reserved for issuances under XTEND AI Robotics’ equity incentive plans.
The merger has been unanimously approved by the board of directors of both companies and approved by written consent by JFB shareholders owning a majority of the outstanding common stock of JFB. The parties expect the transaction to close during the middle of 2026.
Advisors
Stifel is serving as exclusive financial advisor and a capital markets advisor to XTEND.
Paul Hastings LLP, H-F& Co, Banai Azriel Stern and Meitar Law Offices are serving as legal counsel to XTEND.
Dominari Securities LLC is serving as the exclusive placement agent to JFB Construction.
Sichenzia Ross Ference Carmel LLP and Amit Pollak Matlon are serving as legal counsel to JFB.
About JFB Construction Holdings
JFB Construction Holdings (“JFB”) offers generations of combined experience in residential and commercial construction and development. Having the experience of building multifamily communities, shopping centers, national franchises, exclusive estate & equestrian homes, and over 2 million square feet of commercial and retail. JFB provides hands-on, professional expertise, which has led to the quality and production we are known for.
JFB’s reputation has been built on its clients' trust and the value it brings to each project.
JFB is proud that most of its projects are obtained through referrals and repeat customers, and that to-date it has provided general contracting and construction management services in 36 US States.
About XTEND
XTEND is a software-first defense and security technology company building a unified operating ecosystem for human-guided autonomy across air, ground, and maritime domains. Anchored by its proprietary XOS operating system, XTEND’s products are designed to enable defense, public safety, and private security organizations to deploy, scale, and operate autonomous systems with immediate operational readiness in complex, high-risk environments. Founded in Tel Aviv, Israel, and headquartered in Tampa, Florida, the company combines battle-proven software with mission-optimized platforms, payloads, and manufacturing infrastructure to deliver integrated, NDAA-compliant solutions at scale. With more than 10,000 operational systems deployed across the world, XTEND is trusted worldwide where reliability, safety, and mission execution are critical.
