Tel Aviv- and Tampa-based defense robotics company XTEND AI Robotics is set to begin trading on the New York Stock Exchange under the ticker XTND on September 4, 2026, capping the $110 million business combination with SPAC-style shell JFB Construction Holdings that closed after the close on September 3.
$67.7M above the minimum cash condition
JFB satisfied its $60 million minimum closing cash obligation with approximately $67.7 million delivered at close, above the threshold set in the Merger Agreement first signed February 13, 2026 and amended twice. "Completing our merger with JFB is the last step in the process of establishing XTEND AI Robotics as a U.S.-listed company," said co-founder and CEO Aviv Shapira, calling the group "well-capitalized and prepared to scale our AI-powered robotics platform for defense, law enforcement, and security customers around the world." JFB's Class A stock ceased trading on Nasdaq at the close of September 3.
XOS-powered drones, quadrupeds and ISR systems
XTEND has now shipped more than 12,500 systems across 30 countries, validated in five combat zones, all running its proprietary XOS autonomy stack. Recent milestones include the X-Strike lethality package's acceptance into the U.S. Drone Dominance program and hundreds of M6F tactical ISR systems delivered to an Asia-Pacific customer in late August. The group operates NDAA-compliant XFAB manufacturing sites in the U.S., U.K., Singapore, Israel and Latvia.
Post-close structure
Under the Merger Agreement, both XTEND Reality Expansion Ltd. and JFB became direct wholly owned subsidiaries of XTEND AI Robotics, Inc. Stifel served as exclusive financial advisor and capital markets advisor to XTEND, with Truist Securities as additional capital markets advisor. Paul Hastings was XTEND's global counsel; Sichenzia Ross Ference Carmel and Amit, Pollak, Matalon & Co. advised JFB. The listing joins a growing wave of physical-AI names on public markets, from Agility Robotics' Churchill Capital deal to Unitree's Shanghai STAR Market debut.
Reporting based on coverage from GlobeNewswire and StockTitan.