JFB Construction Holdings and XTEND have confirmed that their planned business combination remains on track to close on September 3, 2026. The combined company will be renamed XTEND AI Robotics, Inc., and its common stock is expected to begin trading on the New York Stock Exchange under the ticker symbol XTND on September 4, 2026. This milestone will introduce an AI-powered robotics developer to the public market at a reported valuation of approximately $1.5 billion.
Regulatory Clearance and Closing Schedule
The closing follows the U.S. Securities and Exchange Commission's declaration of effectiveness for the Form S-4 registration statement on August 11, 2026. The final information statement and prospectus were mailed to JFB stockholders of record as of that same date. JFB's Class A common stock is expected to cease trading on the Nasdaq Stock Market after market close on September 3, 2026.
Transaction Terms and Exchange Mechanics
Under the all-stock merger agreement dated February 13, 2026, as amended twice, each JFB share is expected to convert into one share of XTEND AI Robotics common stock. XTEND ordinary shares would convert into approximately 1.36 shares each. If JFB's closing price falls below $4.00 on September 3, the ratio adjusts to one-half share per JFB share and about 0.68 shares per XTEND share, preserving proportional ownership.
Private Investment and Shareholder Backing
XTEND is not raising capital from public market investors, but has secured a private investment totaling $100 million, reduced from an initial plan of $152 million. The company has already received $42 million through a SAFE instrument and expects the remaining $60 million shortly after closing. American Ventures, Aliya Capital and Unusual Machines are part of the investor group, while American Ventures is expected to become the largest shareholder with a 15 percent stake.
Existing shareholders include Protego, Union Tech, Chartered Group, Len Blavatnik and Tel Aviv University's TAU Ventures. Union and Chartered currently hold about 14 percent each and will fall to roughly 12.5 percent, while Protego's stake will move from 7 percent to around 6 percent. Eric Trump is a prominent investor in American Ventures, which is joining as a new backer.
Strategic Positioning and Executive Outlook
Aviv Shapira, co-founder and chief executive officer of XTEND, said the company is ready to scale its AI-powered robotics platform for defense, law enforcement and security customers worldwide. He added that the public listing and additional capital will support continued investment in global manufacturing and product development. XTEND says its software-enabled systems extend operator reach while reducing human exposure in high-risk environments.
Company Origins and Operational Footprint
XTEND was founded in 2018 and employs 267 people, with about 60 percent based in Israel. It began with gaming technology before shifting to defense and security applications, and it has acquired businesses in Latvia and Singapore over the past two years. The company reports deploying 12,500 systems across 30 countries, including recent contracts worth $15 million and $12 million with a NATO member and the U.S. Department of Defense.
Financial Performance and Valuation Context
In the first quarter of 2026, XTEND generated $5.8 million in revenue, up 234 percent year over year, while its net loss widened to $11.5 million. Full year 2025 revenue reached $20 million, up 20 percent, but the net loss expanded to $27 million from $17 million. These results remain below earlier projections that forecast $85.6 million in revenue for 2026, $150 million for 2027 and $381 million for 2028.
The pending listing gives XTEND a public currency and additional resources to pursue growth in defense and security robotics, even as it faces pressure to close the gap between current results and earlier forecasts. The transaction is expected to value the combined company at around $1.5 billion and locks in a $100 million private investment. Investors will now watch whether the company can scale its order pipeline, expand manufacturing, and move toward profitability under the XTND ticker.