XTEND Reality Expansion Ltd. and JFB Construction Holdings Complete Business Combination, Raising $110 Million in Total Capital
The completed JFB–XTEND merger creates XTEND AI Robotics, raises $110 million, and transitions trading to the NYSE under the XTND ticker.
Rhea-AI Summary
JFB Construction Holdings (JFB) and XTEND Reality Expansion have completed their business combination, raising a total of $110 million in capital. The combined company is renamed XTEND AI Robotics, and its common stock will begin trading on the NYSE under ticker “XTND” on September 4, 2026, while JFB’s Class A shares ceased trading on Nasdaq after September 3, 2026.
The company reports delivering approximately $67.7 million toward JFB’s $60 million minimum closing cash obligation, which is expected to support working capital and growth as it operates as a publicly traded company. Management states that the strengthened balance sheet should help scale its AI-powered robotics platform for defense, law enforcement, and security customers.
Positive
- Total capital raised of $110 million through the business combination
- Closing cash delivered of $67.7 million, above the $60 million minimum
- Listing transition to the NYSE under ticker XTND effective September 4, 2026
- XTEND Reality Expansion and JFB both become wholly owned subsidiaries of XTEND AI Robotics
Negative
- None.
News Explained
The completed series of mergers leaves XTEND Reality Expansion and JFB as direct, wholly owned subsidiaries of XTEND AI Robotics, defining the combined company’s post-closing structure.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Sep 03 | Merger cash update | Positive | +4.3% | Minimum cash condition satisfied ahead of announced business combination closing |
| Sep 01 | Robotics deployment | Positive | +1.9% | First Asia-Pacific customer deployment expanded the XOS robotics ecosystem |
| Aug 31 | Merger timing update | Positive | +1.9% | Business combination was expected to close during the week |
| Aug 28 | Defense system deliveries | Positive | +0.4% | Hundreds of tactical ISR systems were delivered to an Asia-Pacific customer |
| Aug 20 | Defense program acceptance | Positive | +4.0% | X-Strike was accepted into a U.S. drone program |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The stock's five prior tracked announcements all had positive 24-hour reactions, including merger-progress and robotics-related updates.
Key Terms
business combination financial
wholly owned subsidiary regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Combined company renamed XTEND AI Robotics, Inc.
Combined company to begin trading on the NYSE under the ticker symbol “XTND” on September 4, 2026
TAMPA, Fla., Sept. 03, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings (Nasdaq: JFB) and XTEND Reality Expansion Ltd. (“XTEND”), a leader in software systems and artificial intelligence-powered robotics, announced today the successful completion of the previously announced business combination between the two companies.
Upon closing, the combined company has been renamed XTEND AI Robotics, Inc., and its common stock will begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “XTND” on September 4, 2026. JFB’s Class A common stock ceased trading on the Nasdaq Stock Market after the close of trading hours on September 3, 2026.
As previously announced, JFB satisfied its
"Completing our merger with JFB is the last step in the process of establishing XTEND AI Robotics as a U.S.-listed company," said Aviv Shapira, Co-Founder and CEO of XTEND AI Robotics. "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."
Tal Horesh, Chief Financial Officer of XTEND AI Robotics, added, "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."
Transaction Details
The business combination was completed through a series of mergers (the “Mergers”) pursuant to the Agreement and Plan of Merger dated as of February 13, 2026, as amended on March 21, 2026 and as further amended on July 16, 2026 (the "Merger Agreement").
Under the terms of the Merger Agreement, XTEND Reality Expansion Ltd. became a direct, wholly owned subsidiary of XTEND AI Robotics, and JFB became a direct, wholly owned subsidiary of XTEND AI Robotics.
Advisors
Stifel served as exclusive financial advisor and a capital markets advisor to XTEND. Truist Securities served as capital markets advisor to XTEND. Dominari Securities LLC is serving as the exclusive placement agent to JFB Construction.
Paul Hastings LLP is serving as global legal counsel to XTEND and Banai Azriel Stern and Meitar Law Offices as Israeli legal counsel to XTEND. Sichenzia Ross Ference Carmel LLP and Amit, Pollak, Matalon & Co. are serving as legal counsel to JFB.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of present and historical fact contained in this press release, including without limitation, statements regarding the anticipated benefits of and costs associated with the Mergers; our expectations surrounding the Mergers and our ability to grow our business and bolster our financial position; our expected contractual obligations and capital expenditures; our future results of operations and financial position; industry and business trends; the impact of market conditions and other macroeconomic factors on our business, financial condition and results of operations; our future business strategy, plans, market growth and our objectives for future operations; and our competitive market position within our industry are forward-looking statements.
Without limiting the foregoing, you can generally identify forward-looking statements by the use of forward-looking terminology, including the terms “aim,” "anticipate," "believe," "could," "may," "will," "should," "expect," "intend," "plan," "estimate," "project," "predict," "potential," “target,” "contemplate," or, in each case, their negative, or other variations or comparable terminology and expressions. The forward-looking statements in this press release are only predictions and are based on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions, including but not limited to: (i) difficulties with the integration and in realizing the expected benefits of the Mergers; (ii) the inability to capture all or part of the anticipated cost and revenue synergies; (iii) significant fees and expenses associated with negotiating and completing the Mergers; (iv) potential liabilities that are not known, probable or estimable at this time; (v) the inability to maintain the listing of our common stock on the NYSE; (vi) the risk of adverse tax consequences of the Mergers; (vii) the inability to retain XTEND or JFB management, employees and/or talent; (viii) the impact of future domestic and international industry trends on our business and our future growth, business strategy and objectives for future operations; (ix) the possibility we may be adversely affected by other economic, business and/or competitive factors; and (x) other important factors that could cause actual results, performance or achievements to differ materially from those described in the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our final prospectus filed with the Securities and Exchange Commission (the “SEC”) on Form 424(b)(3) on August 11, 2026 and our subsequent filings with the SEC.
These risks could cause our actual results to differ materially from those implied by forward-looking statements in this press release. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. Even if our results of operations, financial condition and liquidity and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
You should read this press release and the documents that we reference herein completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. Except as required by applicable law, we have no obligation to update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
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.
Contacts
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
