JFB Construction Holdings, a general contractor that's worked in 36 states, just merged into an AI-powered drone company and stopped being a construction stock.
The combined company is now called XTEND AI Robotics, Inc. It starts trading on the NYSE under the ticker "XTND" on September 4. JFB's Class A shares stopped trading on Nasdaq after close on September 3.
The Money Side
The deal raised $110 million in total capital. JFB needed to hit a $60 million minimum cash obligation to close. It cleared that bar with room to spare, delivering roughly $67.7 million.
XTEND builds AI-driven drones and robotic systems for defense, homeland security, and commercial security clients. The company has over 12,500 systems deployed across more than 30 countries, with combat validation in five war zones.
From Contractor to Corporate Sibling
CEO Aviv Shapira said the merger completes XTEND's move to becoming a U.S. listed company and positions it to scale its robotics platform for defense, law enforcement, and security customers worldwide.
CFO Tal Horesh said the stronger balance sheet sets up XTEND to expand manufacturing capacity. The company already runs facilities in the U.S., U.K., Singapore, Israel, and Latvia.
Here's the structure buried in the paperwork: JFB and XTEND are now both wholly owned subsidiaries of the same new parent company. A contractor built on permits and project management now shares a corporate roof with combat-tested robotics, and its old Nasdaq ticker is gone for good.
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