XTEND Confirms $60 Million in Cash Received as Merger with JFB Construction Holdings Advances Towards Closing

XTEND secures $60 million, meets NYSE requirements and regulatory milestones, and moves toward NYSE trading as XTND following its merger with JFB.

Rhea-AI Summary

JFB Construction Holdings (JFB) and XTEND report that XTEND has satisfied the merger agreement’s minimum cash condition with $60 million in cash received, keeping their previously announced business combination on track to close on September 3, 2026.

Upon closing, the combined company will be renamed XTEND AI Robotics, Inc., and its common stock is expected to begin trading on the NYSE under the ticker “XTND” on September 4, 2026. The $60 million is expected to support XTEND’s working capital and growth as it transitions to a public company. The SEC declared the Form S‑4 registration statement effective on August 11, 2026, and all NYSE listing requirements have been met, leaving only other customary closing conditions.

XTEND highlights recent momentum, including an up-to-approximately $15 million multi-year defense contract with a European NATO member, deliveries of hundreds of M6F tactical ISR systems to a new Asia-Pacific defense customer, and acceptance of its X‑Strike package into a U.S. drone program.

Positive

• $60 million cash received satisfies minimum cash condition to closing
• Combined company expected to trade on NYSE as “XTND” starting September 4, 2026
• All NYSE listing requirements satisfied ahead of anticipated closing
• SEC declared Form S-4 effective on August 11, 2026, clearing key regulatory hurdle
• Multi-year defense contract worth up to approximately $15 million with a European NATO member
• Delivery of hundreds of M6F systems to a new Asia-Pacific defense customer

Negative

• None.

Market reaction after merger closing update: JFB +4.85%

+4.85% $4.97 2.9x vol

15m delay

+4.85% Vs previous close

$4.97 Last Price

$4.73 $5.24 Day Range

$100.55M Market Cap

2.9x Rel. Volume

Following this news, JFB has gained 4.85%, reflecting a moderate positive market reaction. Our momentum scanner has triggered 11 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $4.97. Trading volume is elevated at 2.9x the average, suggesting notable buying interest.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Market Context

The stock is up +5.1% following this news. On August 4, the merger-process update was followed by 7....

Analysis

The stock is up +5.1% following this news. On August 4, the merger-process update was followed by 7.39% in JFB's 24-hour price reaction. The cash milestone reduced one closing condition, while customary conditions remained a disclosed risk.

Key Figures

Cash received: $60 million Anticipated closing date: September 3, 2026 Expected trading date: September 4, 2026 +5 more

8 metrics

Cash received $60 million Minimum cash condition to closing

Anticipated closing date September 3, 2026 Business combination

Expected trading date September 4, 2026 NYSE listing under ticker XTND

S-4 effectiveness date August 11, 2026 SEC registration statement

Contract value Up to approximately $15 million Multi-year European NATO member Ministry of Defense contract

Robotic platforms produced 7 platforms Single week across global manufacturing network

Manufacturing countries 5 countries Global manufacturing network

Systems delivered Hundreds of M6F systems New Asia-Pacific defense customer

Previous Acquisition Reports

1 past event · Latest: Aug 04 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 04	Merger process	Positive	+7.4%	Amended S-4 filing advanced the merger toward effectiveness, closing, and anticipated NYSE listing.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

The tag-specific merger history showed a positive 7.39% 24-hour reaction to prior transaction progress.

Key Terms

form s-4, minimum cash condition, ndaa-compliant

3 terms

form s-4 regulatory

"SEC's declaration of effectiveness ... of the Form S-4 registration statement"

A Form S-4 is a legal document that companies file with the government to announce and explain a major business move, such as a merger or acquisition. It provides detailed information to help investors understand how the deal might affect the company's value and future prospects, similar to a detailed blueprint that clarifies the impact of a significant change.

minimum cash condition financial

"satisfied the minimum cash condition to closing"

A minimum cash condition is a contract clause that requires a company to hold at least a specified amount of cash or liquid assets before a transaction can close or a financing can proceed. Investors care because it protects against deals being completed when the business lacks enough cash to operate or meet short-term obligations—think of it as a safety buffer like keeping a minimum balance in a bank account so you don’t bounce payments after a big purchase.

ndaa-compliant regulatory

"leading supplier of NDAA-compliant, Made-in-America drones"

NDAA-compliant means that a product, supplier, or company meets the rules in the U.S. National Defense Authorization Act that bar certain foreign technologies and require specific security practices. For investors, compliance matters because it determines whether a business can sell to the U.S. government, avoid fines or bans, and reduce supply‑chain or reputational risk—similar to passing a background check that lets you bid on a sensitive contract.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

 Combined company expected to begin trading on the NYSE under the ticker symbol “XTND” on September 4, 2026

All NYSE listing requirements have been satisfied ahead of anticipated closing

TAMPA, Fla., Sept. 03, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings (Nasdaq: JFB) and XTEND, a leader in software systems and artificial intelligence-powered robotics, announced today that XTEND has satisfied the minimum cash condition to closing of the previously announced business combination, with $60 million in cash received . With this condition satisfied, the transaction remains on track to close today, September 3, 2026. Upon closing, 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 (“NYSE”) under the ticker symbol “XTND” on September 4, 2026.

The $60 million in cash satisfies the minimum cash condition set forth in the merger agreement and is expected to support XTEND's working capital and continued growth as it transitions to operating as a publicly traded company.

The anticipated closing follows the U.S. Securities and Exchange Commission's (“SEC”) declaration of effectiveness, on August 11, 2026, of the Form S-4 registration statement filed in connection with the proposed business combination, clearing a key regulatory milestone ahead of closing. The final information statement/prospectus was mailed to JFB stockholders of record as of August 11, 2026. All NYSE listing requirements have now been satisfied, and the transaction remains subject only to other customary closing conditions.

XTEND arrives at this milestone on a hot streak. In the month since the Company’s last update on July 30, 2026, XTEND has landed new defense contracts, cleared its final regulatory hurdle, and kept shipping hardware around the world:

• August 31, 2026 — Announced that the business combination with JFB remains on track to close on September 3, 2026, with the combined company’s shares expected to begin trading on the NYSE under the ticker symbol “XTND” on September 4, 2026.
• August 28, 2026 — Delivered hundreds of M6F tactical ISR systems to a new defense customer in the Asia-Pacific region.
• August 20, 2026 — X-Strike lethality package accepted into the U.S. Department of War's Drone Dominance Program for small unmanned aerial systems.
• August 17, 2026 — Secured a multi-year contract worth up to approximately $15 million with a European NATO member nation's Ministry of Defense.
• August 14, 2026 — Positioned as a leading supplier of NDAA-compliant, Made-in-America drones as new U.S. tariffs reshape the market for imported systems.
• August 11, 2026 — SEC declared the Form S-4 registration statement effective, clearing the final regulatory hurdle to closing.
• August 3, 2026 — Produced seven different robotic platforms in a single week across a global manufacturing network spanning five countries.
  
  

“Satisfying the minimum cash condition with $60 million in cash received removes one of the last remaining conditions to closing our merger with JFB,” said Aviv Shapira, Co-Founder and CEO of XTEND. “With the merger on track to close on September 3, 2026 and our shares expected to begin trading on the NYSE under the ticker ‘XTND’ on September 4, 2026, we are entering the next chapter of XTEND's growth well-capitalized and ready to scale our AI-powered robotics platform for defense, law enforcement, and security customers around the world.”

Tal Horesh, Chief Financial Officer of XTEND added, “This puts to rest one of the final closing conditions and strengthens our balance sheet as we transition to a publicly traded company on the NYSE. We believe it positions XTEND to capitalize on the substantial demand we are seeing across our defense and security markets.”

XTEND's software-enabled robotic systems are designed to extend the reach and effectiveness of defense and security operators while reducing human exposure in high-risk environments. The company's platform combines advanced robotic hardware with intuitive control, mission management, and autonomous capabilities designed to support rapid deployment across diverse operational scenarios. The additional capital and pending public listing are expected to support XTEND's continued investment in its global manufacturing footprint and product development as it scales to meet growing demand from defense and security customers worldwide.

Additional details regarding the transaction, including the timing of closing, will be announced as they become available.

+++

To sign up to receive press releases in real time, please visit ir.XTEND.me.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the business combination between JFB and XTEND. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially, including the risk that the business combination is not completed in a timely manner or at all, the failure to satisfy the conditions to closing, the risk that trading in the combined company’s common stock on the NYSE does not commence as and when anticipated, the timing and size of orders from government and defense customers, compliance with export control and defense trade regulations, geopolitical conditions in the regions in which XTEND operates, and the other risks described under “Risk Factors” in the registration statement on Form S-4 filed with the SEC in connection with the business combination and in JFB’s other filings with the SEC, available at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Neither JFB nor XTEND undertakes any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law.

About XTEND

XTEND is a leader in software systems and Physical AI, deployed in high-threat, complex operational environments where human exposure carries significant risk. Powered by its proprietary XTEND Operating System (XOS), XTEND’s integrated software and advanced robotic hardware solutions are designed to provide autonomy at the edge. Operating across Defense, Homeland Security, and Commercial Security missions through a platform of robots, drones, and robotic subsystems, XTEND’s open architecture platform facilitates scalability across partners and third-party applications. With over 12,500 systems deployed in over 30 countries, XTEND’s solutions have been validated in five combat zones and operationally deployed by national defense, special-mission units, and security organizations across the globe. Founded in Tel Aviv, Israel, and headquartered in Tampa, Florida, XTEND delivers NDAA-compliant solutions through a global network of regional XFAB manufacturing facilities located in the U.S., the U.K., Singapore, Israel, and Latvia. For more information, visit www.XTEND.me.

About JFB Construction Holdings

JFB Construction Holdings (Nasdaq: JFB) is a real estate development and construction company that has provided general contracting and construction management services in 36 U.S. states. For more information, visit the company's SEC filings at www.sec.gov.

Important Information for Investors and Stockholders

This communication is for informational purposes only and is not intended to, and does not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any issuance or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the transaction, NewCo and JFB filed a registration statement on Form S-4. Investors and security holders are urged to read the information statement/prospectus or registration statement and any other documents filed with the SEC carefully and in their entirety when they become available. Copies of the documents filed with the SEC by JFB will be available free of charge at www.sec.gov.

Contacts
JFB Construction Holdings Contact:
CORE IR
Mike Mason
516-222-2560
investors@jfbconstruction.net

XTEND Media Contact:
Headline Media
Sarah Small
929-255-1449
sarah@headline.media

XTEND Investor Relations:
MZ North America
Shannon Devine
203-741-8811
XTND@mzgroup.us
Attachments
JFB Construction Holdings

FAQ

What did XTEND and JFB Construction Holdings (JFB) announce about their merger and cash position?

XTEND and JFB announced that XTEND has received $60 million in cash, satisfying the merger agreement’s minimum cash condition. With this requirement met, the business combination is expected to close on September 3, 2026, subject only to other customary closing conditions.

When will the XTEND and JFB merged company start trading on the NYSE under the symbol XTND?

Following the anticipated closing of the merger on September 3, 2026, the combined company’s common stock is expected to begin trading on the New York Stock Exchange under the ticker symbol “XTND” on September 4, 2026, as disclosed by the companies.

What does the $60 million minimum cash condition mean for XTEND after the JFB (JFB) merger?

The $60 million in cash satisfies the minimum cash condition required to close the merger and is expected to support XTEND’s working capital and continued growth as it transitions into operating as a publicly traded company following completion of the business combination with JFB.

What regulatory and listing milestones have XTEND and JFB (JFB) completed for the merger?

The Form S-4 registration statement for the business combination was declared effective by the SEC on August 11, 2026. In addition, all NYSE listing requirements for the combined company have been satisfied, leaving only other customary closing conditions before the merger can be completed.

What recent defense contracts and deals has XTEND reported ahead of its merger with JFB (JFB)?

XTEND disclosed a multi-year contract worth up to approximately $15 million with a European NATO member’s Ministry of Defense and the delivery of hundreds of M6F tactical ISR systems to a new defense customer in the Asia-Pacific region, among other recent wins.

What will the combined XTEND and JFB (JFB) company be called after the merger closes?

Upon closing of the business combination, the merged entity is expected to be renamed XTEND AI Robotics, Inc.. Its common stock is then expected to trade on the NYSE under the ticker symbol “XTND”, beginning the day after the anticipated closing date.

How does XTEND plan to use the additional capital and NYSE listing after merging with JFB (JFB)?

The companies state that the $60 million cash and pending NYSE listing are expected to support XTEND’s working capital, continued growth, global manufacturing footprint, and product development as it scales to meet growing demand from defense and security customers worldwide.