XTEND to list on NYSE September 4 via all-stock merger with JFB Construction
What's the deal? AI robotics firm XTEND and JFB Construction HoldingsDealroom has a profile for this one. Try Dealroom → (Nasdaq: JFB) expect to close their all-stock business combination on September 3, 2026. The merged entity will be renamed XTEND AI Robotics, Inc.Dealroom has a profile for this one. Try Dealroom →, and its shares are set to begin trading on the New York Stock Exchange under the ticker "XTND" on September 4.
How it works: Through a series of mergers under an agreement dated February 13, 2026, both XTEND Reality Expansion Ltd.Dealroom has a profile for this one. Try Dealroom → and JFB will become wholly owned subsidiaries of XTEND AI Robotics. Each JFB share converts into one XTEND AI Robotics share, and each XTEND ordinary share into roughly 1.36 shares.
If JFB's Class A stock closes below $4.00 on September 3, the exchange ratio halves to meet the NYSE's minimum listing price — one-half share per JFB share and about 0.68 per XTEND share. Under either scenario, former shareholders retain the same proportional ownership.
Why now? The closing follows the SEC's declaration of effectiveness on August 11, 2026, for the Form S-4 registration statement, clearing a key regulatory hurdle. JFB's Class A stock is expected to stop trading on Nasdaq after market close on September 3.
What's the endgame? XTEND builds software-enabled robotic systems for defense, law enforcement, and security operators, combining robotic hardware with mission management and autonomous capabilities to reduce human exposure in high-risk environments.
"We are entering the next chapter of XTEND's growth ready to scale our AI-powered robotics platform for defense, law enforcement, and security customers around the world," said Aviv Shapira, co-founder and chief executive officer of XTEND.
The signal: The deal gives XTEND a public listing and additional capital to expand its global manufacturing and product development as demand grows for autonomous systems in defense and security.
Read more: Business Insider
Image credit: Generated with Gemini
