XTEND Reality Expansion and JFB Construction Holdings have completed their previously announced business combination, creating XTEND AI Robotics and raising $110 million in total capital.
The combined company’s common shares are scheduled to begin trading on the New York Stock Exchange under the ticker XTND on September 4, 2026. JFB’s Class A shares ceased trading on Nasdaq after the September 3 close.
JFB satisfied its $60 million minimum closing cash requirement, with approximately $67.7 million delivered at closing to support working capital and future growth.
The business combination was completed through a series of mergers under an agreement originally signed February 13, 2026 and subsequently amended in March and July.
Following completion, both XTEND Reality Expansion and JFB became wholly owned subsidiaries of XTEND AI Robotics.
XTEND develops software and physical AI systems for high-risk environments, including defense, homeland security and commercial security applications.
The company’s platform includes robots, drones and robotic subsystems powered by its XTEND Operating System. XTEND said it has deployed more than 12,500 systems across more than 30 countries.
Stifel served as exclusive financial advisor and a capital markets advisor to XTEND, while Truist Securities served as capital markets advisor. Dominari Securities acted as exclusive placement agent to JFB.
KEY QUOTES:
“Completing our merger with JFB is the last step in the process of establishing XTEND AI Robotics as a U.S.-listed company. With our common stock expected to begin trading on the NYSE under the ticker ‘XTND’ on September 4, 2026, we begin this next stage of XTEND’s growth well-capitalized and prepared to scale our AI-powered robotics platform for defense, law enforcement, and security customers around the world.”
Aviv Shapira, Co-Founder and CEO of XTEND AI Robotics
“Closing the business combination strengthens our balance sheet and completes our transition to operating as a publicly traded company on the NYSE. We believe our capital position, together with the demand we continue to see across our defense and public safety customers, positions XTEND AI Robotics to expand manufacturing capacity and execute against the opportunities ahead of us.”
Tal Horesh, Chief Financial Officer of XTEND AI Robotics
