Israeli defense-technology company XTEND is going public through a $1.5 billion all-stock merger with Nasdaq-listed JFB Construction Holdings, the two companies announced on July 27, 2026.
A $1.5B Path To Nasdaq For AI-Driven Autonomous Defense
The combined entity will be renamed XTEND AI Robotics and trade on the Nasdaq under the ticker XTND. On a fully diluted pro-forma basis, current XTEND shareholders will own approximately 70% of the merged company and JFB shareholders about 30%. Strategic investors backing the concurrent private placement include Eric Trump, Unusual Machines (NYSE: UMAC), American Ventures LLC, Protego Ventures, Aliya Capital and the Agostinelli Group. Boards of both companies unanimously approved the transaction, which is expected to close in mid-2026 subject to customary regulatory approvals.
XOS Becomes A Public-Market Play On Autonomy
Founded in Tel Aviv and headquartered in Tampa, Florida, XTEND is a software-first defense company anchored by its XTEND Operating System (XOS) — an AI-driven autonomy platform running on air, ground and maritime drones. The company says more than 10,000 XOS-powered systems are already operationally deployed worldwide. Following recent commercial wins, the JFB combination will finance expanded NDAA-compliant production at XTEND's Tampa facility to serve the U.S., NATO allies and Asia.
Defense-Tech Public Markets Get Another Autonomy Pure-Play
The listing continues a wave of AI-defense capital-formation activity. Days earlier, European rival Helsing raised $1.8 billion at an $18 billion valuation, and Trive-backed Lyntris filed for a NYSE IPO. For JFB, the deal converts a mid-cap construction outfit into a defense-autonomy platform; for XTEND, it delivers scale capital and public-market currency without a traditional IPO process. Stifel served as exclusive financial advisor to XTEND. Related coverage: Quantum Systems Series D.
Reporting based on coverage from XTEND, JFB Construction Holdings, DRONELIFE, Pulse2, The Armchair Trader and SEC filings.