- The newly formed company plans to operate as XTEND AI Robotics and trade on the Nasdaq under the ticker “XTND.”
- XTEND’s Operating System, known as XOS, enables operators to remotely manage fleets of aerial, ground, and maritime drones.
- The transaction is supported by strategic backers, including Eric Trump and Unusual Machines (UMAC).
JFB Construction (JFB) stock plummeted over 44% on Tuesday after the company agreed to merge with defense technology firm XTEND in an all-stock deal that values the combined enterprise at roughly $1.5 billion.
The agreement would shift JFB from its roots in real estate development into the fast-growing field of autonomous defense systems powered by artificial intelligence.
Expanding Into Autonomous Defense
Once finalized, the newly formed company plans to operate as XTEND AI Robotics and trade on the Nasdaq under the ticker “XTND.” Xtend, headquartered with a manufacturing hub in Tampa, Florida, develops AI-based robotic platforms for defense, homeland security, and commercial protection.
Its proprietary XTEND Operating System (XOS) enables handlers to remotely manage fleets of aerial, ground, and maritime drones, enabling them to handle complex assignments with minimal on-site personnel.
Strategic Investors
The transaction is supported by strategic backers, including Eric Trump, Unusual Machines (UMAC), American Ventures LLC, Protego Ventures, Aliya Capital, and Agostinelli Group.
“By pairing XTEND’s operating system and advanced AI capabilities with JFB’s execution, infrastructure, and buildout expertise, we see a clear opportunity to accelerate US manufacturing, scale production responsibly, and support a next-generation defense technology platform built in America and ready for the public markets.”
-Joseph F. Basile III, CEO, JFB
The Defense Department recently selected Xtend as one of 25 participants in the first stage of its “Drone Dominance Program.”
Under the merger deal, investors who currently own shares in XTEND and JFB will exchange them for stock in the newly formed parent company. Upon completion of the transaction, existing XTEND shareholders are expected to control approximately 70% of the new company, while JFB shareholders will hold approximately 30%.
The merger is expected to be completed by mid 2026. JFB stock has gained over 392% in the last 12 months.
Also See: Velo3D Secures $11.5M Defense Contract With Advanced 3D Printing
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