{"success":true,"data":{"pressRelease":{"id":"135163","rtpr_id":"nGNX1VzC5G","ticker":"JFB","exchange":"NASDAQ","all_tickers":["JFB"],"title":"XTEND Confirms $60 Million in Cash Received as Merger with JFB Construction Holdings Advances Towards Closing","author":"Globe Newswire","published_at":"2026-09-03T12:30:01.091Z","article_body":"Combined company expected to begin trading on the NYSE under the ticker\nsymbol “XTND” on September 4, 2026\n\nAll NYSE listing requirements have been satisfied ahead of anticipated closing\n\nTAMPA, Fla., Sept. 03, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings\n(Nasdaq: JFB) and XTEND, a leader in software systems and artificial\nintelligence-powered robotics, announced today that XTEND has satisfied the\nminimum cash condition to closing of the previously announced business\ncombination, with $60 million in cash received . With this condition\nsatisfied, the transaction remains on track to close today, September 3, 2026.\nUpon closing, the combined company will be renamed XTEND AI Robotics, Inc. and\nits common stock is expected to begin trading on the New York Stock Exchange\n(“NYSE”) under the ticker symbol “XTND” on September 4, 2026.\n\nThe $60 million in cash satisfies the minimum cash condition set forth in the\nmerger agreement and is expected to support XTEND's working capital and\ncontinued growth as it transitions to operating as a publicly traded company.\n\nThe anticipated closing follows the U.S. Securities and Exchange Commission's\n(“SEC”) declaration of effectiveness, on August 11, 2026, of the Form S-4\nregistration statement filed in connection with the proposed business\ncombination, clearing a key regulatory milestone ahead of closing. The final\ninformation statement/prospectus was mailed to JFB stockholders of record as\nof August 11, 2026. All NYSE listing requirements have now been satisfied, and\nthe transaction remains subject only to other customary closing conditions.\n\nXTEND arrives at this milestone on a hot streak. In the month since the\nCompany’s last update on July 30, 2026, XTEND has landed new defense\ncontracts, cleared its final regulatory hurdle, and kept shipping hardware\naround the world:\n* August 31, 2026 — Announced that the business combination with JFB remains\non track to close on September 3, 2026, with the combined company’s shares\nexpected to begin trading on the NYSE under the ticker symbol “XTND” on\nSeptember 4, 2026.\n* August 28, 2026 — Delivered hundreds of M6F tactical ISR systems to a new\ndefense customer in the Asia-Pacific region.\n* August 20, 2026 — X-Strike lethality package accepted into the U.S.\nDepartment of War's Drone Dominance Program for small unmanned aerial systems.\n* August 17, 2026 — Secured a multi-year contract worth up to approximately\n$15 million with a European NATO member nation's Ministry of Defense.\n* August 14, 2026 — Positioned as a leading supplier of NDAA-compliant,\nMade-in-America drones as new U.S. tariffs reshape the market for imported\nsystems.\n* August 11, 2026 — SEC declared the Form S-4 registration statement\neffective, clearing the final regulatory hurdle to closing.\n* August 3, 2026 — Produced seven different robotic platforms in a single\nweek across a global manufacturing network spanning five countries.\n“Satisfying the minimum cash condition with $60 million in cash received\nremoves one of the last remaining conditions to closing our merger with\nJFB,” said Aviv Shapira, Co-Founder and CEO of XTEND. “With the merger on\ntrack to close on September 3, 2026 and our shares expected to begin trading\non the NYSE under the ticker ‘XTND’ on September 4, 2026, we are entering\nthe next chapter of XTEND's growth well-capitalized and ready to scale our\nAI-powered robotics platform for defense, law enforcement, and security\ncustomers around the world.”\n\nTal Horesh, Chief Financial Officer of XTEND added, “This puts to rest one\nof the final closing conditions and strengthens our balance sheet as we\ntransition to a publicly traded company on the NYSE. We believe it positions\nXTEND to capitalize on the substantial demand we are seeing across our defense\nand security markets.”\n\nXTEND's software-enabled robotic systems are designed to extend the reach and\neffectiveness of defense and security operators while reducing human exposure\nin high-risk environments. The company's platform combines advanced robotic\nhardware with intuitive control, mission management, and autonomous\ncapabilities designed to support rapid deployment across diverse operational\nscenarios. The additional capital and pending public listing are expected to\nsupport XTEND's continued investment in its global manufacturing footprint and\nproduct development as it scales to meet growing demand from defense and\nsecurity customers worldwide.\n\nAdditional details regarding the transaction, including the timing of closing,\nwill be announced as they become available.\n\n+++\n\nTo sign up to receive press releases in real time, please visit ir.XTEND.me.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, including statements\nregarding the business combination between JFB and XTEND. These statements are\nbased on current expectations and assumptions and involve risks and\nuncertainties that could cause actual results to differ materially, including\nthe risk that the business combination is not completed in a timely manner or\nat all, the failure to satisfy the conditions to closing, the risk that\ntrading in the combined company’s common stock on the NYSE does not commence\nas and when anticipated, the timing and size of orders from government and\ndefense customers, compliance with export control and defense trade\nregulations, geopolitical conditions in the regions in which XTEND operates,\nand the other risks described under “Risk Factors” in the registration\nstatement on Form S-4 filed with the SEC in connection with the business\ncombination and in JFB’s other filings with the SEC, available at\nwww.sec.gov. Readers are cautioned not to place undue reliance on\nforward-looking statements, which speak only as of the date of this press\nrelease. Neither JFB nor XTEND undertakes any obligation to update or revise\nany forward-looking statement, whether as a result of new information, future\nevents, or otherwise, except as required by applicable law.\n\nAbout XTEND\n\nXTEND is a leader in software systems and Physical AI, deployed in\nhigh-threat, complex operational environments where human exposure carries\nsignificant risk. Powered by its proprietary XTEND Operating System (XOS),\nXTEND’s integrated software and advanced robotic hardware solutions are\ndesigned to provide autonomy at the edge. Operating across Defense, Homeland\nSecurity, and Commercial Security missions through a platform of robots,\ndrones, and robotic subsystems, XTEND’s open architecture platform\nfacilitates scalability across partners and third-party applications. With\nover 12,500 systems deployed in over 30 countries, XTEND’s solutions have\nbeen validated in five combat zones and operationally deployed by national\ndefense, special-mission units, and security organizations across the globe.\nFounded in Tel Aviv, Israel, and headquartered in Tampa, Florida, XTEND\ndelivers NDAA-compliant solutions through a global network of regional XFAB\nmanufacturing facilities located in the U.S., the U.K., Singapore, Israel, and\nLatvia. For more information, visit www.XTEND.me.\n\nAbout JFB Construction Holdings\n\nJFB Construction Holdings (Nasdaq: JFB) is a real estate development and\nconstruction company that has provided general contracting and construction\nmanagement services in 36 U.S. states. For more information, visit the\ncompany's SEC filings at www.sec.gov.\n\nImportant Information for Investors and Stockholders\n\nThis communication is for informational purposes only and is not intended to,\nand does not, constitute an offer to sell or the solicitation of an offer to\nbuy any securities or a solicitation of any vote or approval, nor shall there\nbe any issuance or sale of securities in any jurisdiction in which such offer,\nsolicitation or sale would be unlawful prior to registration or qualification\nunder the securities laws of any such jurisdiction. In connection with the\ntransaction, NewCo and JFB filed a registration statement on Form S-4.\nInvestors and security holders are urged to read the information\nstatement/prospectus or registration statement and any other documents filed\nwith the SEC carefully and in their entirety when they become available.\nCopies of the documents filed with the SEC by JFB will be available free of\ncharge at www.sec.gov.\n\nContacts\nJFB Construction Holdings Contact:\nCORE IR\nMike Mason\n516-222-2560\ninvestors@jfbconstruction.net\n\nXTEND Media Contact:\nHeadline Media\nSarah Small\n929-255-1449\nsarah@headline.media\n\nXTEND Investor Relations:\nMZ North America\nShannon Devine\n203-741-8811\nXTND@mzgroup.us\nAttachments\nJFB Construction Holdings\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d2570a82-686d-45f4-81cf-d748521561b7)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX1VzC5G","title":"XTEND Confirms $60 Million in Cash Received as Merger with JFB Construction Holdings Advances Towards Closing","author":"Globe Newswire","ticker":"JFB","created":"2026-09-03T12:30:01.091Z","tickers":["JFB"],"exchange":"NASDAQ","article_body":"Combined company expected to begin trading on the NYSE under the ticker\nsymbol “XTND” on September 4, 2026\n\nAll NYSE listing requirements have been satisfied ahead of anticipated closing\n\nTAMPA, Fla., Sept. 03, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings\n(Nasdaq: JFB) and XTEND, a leader in software systems and artificial\nintelligence-powered robotics, announced today that XTEND has satisfied the\nminimum cash condition to closing of the previously announced business\ncombination, with $60 million in cash received . With this condition\nsatisfied, the transaction remains on track to close today, September 3, 2026.\nUpon closing, the combined company will be renamed XTEND AI Robotics, Inc. and\nits common stock is expected to begin trading on the New York Stock Exchange\n(“NYSE”) under the ticker symbol “XTND” on September 4, 2026.\n\nThe $60 million in cash satisfies the minimum cash condition set forth in the\nmerger agreement and is expected to support XTEND's working capital and\ncontinued growth as it transitions to operating as a publicly traded company.\n\nThe anticipated closing follows the U.S. Securities and Exchange Commission's\n(“SEC”) declaration of effectiveness, on August 11, 2026, of the Form S-4\nregistration statement filed in connection with the proposed business\ncombination, clearing a key regulatory milestone ahead of closing. The final\ninformation statement/prospectus was mailed to JFB stockholders of record as\nof August 11, 2026. All NYSE listing requirements have now been satisfied, and\nthe transaction remains subject only to other customary closing conditions.\n\nXTEND arrives at this milestone on a hot streak. In the month since the\nCompany’s last update on July 30, 2026, XTEND has landed new defense\ncontracts, cleared its final regulatory hurdle, and kept shipping hardware\naround the world:\n* August 31, 2026 — Announced that the business combination with JFB remains\non track to close on September 3, 2026, with the combined company’s shares\nexpected to begin trading on the NYSE under the ticker symbol “XTND” on\nSeptember 4, 2026.\n* August 28, 2026 — Delivered hundreds of M6F tactical ISR systems to a new\ndefense customer in the Asia-Pacific region.\n* August 20, 2026 — X-Strike lethality package accepted into the U.S.\nDepartment of War's Drone Dominance Program for small unmanned aerial systems.\n* August 17, 2026 — Secured a multi-year contract worth up to approximately\n$15 million with a European NATO member nation's Ministry of Defense.\n* August 14, 2026 — Positioned as a leading supplier of NDAA-compliant,\nMade-in-America drones as new U.S. tariffs reshape the market for imported\nsystems.\n* August 11, 2026 — SEC declared the Form S-4 registration statement\neffective, clearing the final regulatory hurdle to closing.\n* August 3, 2026 — Produced seven different robotic platforms in a single\nweek across a global manufacturing network spanning five countries.\n“Satisfying the minimum cash condition with $60 million in cash received\nremoves one of the last remaining conditions to closing our merger with\nJFB,” said Aviv Shapira, Co-Founder and CEO of XTEND. “With the merger on\ntrack to close on September 3, 2026 and our shares expected to begin trading\non the NYSE under the ticker ‘XTND’ on September 4, 2026, we are entering\nthe next chapter of XTEND's growth well-capitalized and ready to scale our\nAI-powered robotics platform for defense, law enforcement, and security\ncustomers around the world.”\n\nTal Horesh, Chief Financial Officer of XTEND added, “This puts to rest one\nof the final closing conditions and strengthens our balance sheet as we\ntransition to a publicly traded company on the NYSE. We believe it positions\nXTEND to capitalize on the substantial demand we are seeing across our defense\nand security markets.”\n\nXTEND's software-enabled robotic systems are designed to extend the reach and\neffectiveness of defense and security operators while reducing human exposure\nin high-risk environments. The company's platform combines advanced robotic\nhardware with intuitive control, mission management, and autonomous\ncapabilities designed to support rapid deployment across diverse operational\nscenarios. The additional capital and pending public listing are expected to\nsupport XTEND's continued investment in its global manufacturing footprint and\nproduct development as it scales to meet growing demand from defense and\nsecurity customers worldwide.\n\nAdditional details regarding the transaction, including the timing of closing,\nwill be announced as they become available.\n\n+++\n\nTo sign up to receive press releases in real time, please visit ir.XTEND.me.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, including statements\nregarding the business combination between JFB and XTEND. These statements are\nbased on current expectations and assumptions and involve risks and\nuncertainties that could cause actual results to differ materially, including\nthe risk that the business combination is not completed in a timely manner or\nat all, the failure to satisfy the conditions to closing, the risk that\ntrading in the combined company’s common stock on the NYSE does not commence\nas and when anticipated, the timing and size of orders from government and\ndefense customers, compliance with export control and defense trade\nregulations, geopolitical conditions in the regions in which XTEND operates,\nand the other risks described under “Risk Factors” in the registration\nstatement on Form S-4 filed with the SEC in connection with the business\ncombination and in JFB’s other filings with the SEC, available at\nwww.sec.gov. Readers are cautioned not to place undue reliance on\nforward-looking statements, which speak only as of the date of this press\nrelease. Neither JFB nor XTEND undertakes any obligation to update or revise\nany forward-looking statement, whether as a result of new information, future\nevents, or otherwise, except as required by applicable law.\n\nAbout XTEND\n\nXTEND is a leader in software systems and Physical AI, deployed in\nhigh-threat, complex operational environments where human exposure carries\nsignificant risk. Powered by its proprietary XTEND Operating System (XOS),\nXTEND’s integrated software and advanced robotic hardware solutions are\ndesigned to provide autonomy at the edge. Operating across Defense, Homeland\nSecurity, and Commercial Security missions through a platform of robots,\ndrones, and robotic subsystems, XTEND’s open architecture platform\nfacilitates scalability across partners and third-party applications. With\nover 12,500 systems deployed in over 30 countries, XTEND’s solutions have\nbeen validated in five combat zones and operationally deployed by national\ndefense, special-mission units, and security organizations across the globe.\nFounded in Tel Aviv, Israel, and headquartered in Tampa, Florida, XTEND\ndelivers NDAA-compliant solutions through a global network of regional XFAB\nmanufacturing facilities located in the U.S., the U.K., Singapore, Israel, and\nLatvia. For more information, visit www.XTEND.me.\n\nAbout JFB Construction Holdings\n\nJFB Construction Holdings (Nasdaq: JFB) is a real estate development and\nconstruction company that has provided general contracting and construction\nmanagement services in 36 U.S. states. For more information, visit the\ncompany's SEC filings at www.sec.gov.\n\nImportant Information for Investors and Stockholders\n\nThis communication is for informational purposes only and is not intended to,\nand does not, constitute an offer to sell or the solicitation of an offer to\nbuy any securities or a solicitation of any vote or approval, nor shall there\nbe any issuance or sale of securities in any jurisdiction in which such offer,\nsolicitation or sale would be unlawful prior to registration or qualification\nunder the securities laws of any such jurisdiction. In connection with the\ntransaction, NewCo and JFB filed a registration statement on Form S-4.\nInvestors and security holders are urged to read the information\nstatement/prospectus or registration statement and any other documents filed\nwith the SEC carefully and in their entirety when they become available.\nCopies of the documents filed with the SEC by JFB will be available free of\ncharge at www.sec.gov.\n\nContacts\nJFB Construction Holdings Contact:\nCORE IR\nMike Mason\n516-222-2560\ninvestors@jfbconstruction.net\n\nXTEND Media Contact:\nHeadline Media\nSarah Small\n929-255-1449\nsarah@headline.media\n\nXTEND Investor Relations:\nMZ North America\nShannon Devine\n203-741-8811\nXTND@mzgroup.us\nAttachments\nJFB Construction Holdings\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d2570a82-686d-45f4-81cf-d748521561b7)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-03T12:30:01.13979659Z","server_sent_at_ms":1788438601139},"received_at":"2026-09-03T12:30:01.197Z","source_url":"https://www.globenewswire.com/news-release/2026/09/03/3355916/0/en/xtend-confirms-60-million-in-cash-received-as-merger-with-jfb-construction-holdings-advances-towards-closing.html"},"analysis":{"id":"124059","press_release_id":"135163","analysis_json":{"industry":{"label":"Construction & Engineering","sector":"Industrials"},"redFlags":["JFB shareholders' exposure shifts entirely from a construction business to XTEND's defense-tech operations at closing","Closing remains subject to customary conditions; NYSE trading start date could still slip","$60M minimum cash is modest working capital for a global defense hardware scale-up"],"eventType":"m_and_a","narrative":"XTEND and JFB Construction Holdings confirmed $60 million in cash received, satisfying the minimum cash condition to close their business combination, with the transaction on track to close September 3, 2026.\n\nUpon closing, the combined company will be renamed XTEND AI Robotics, Inc. and is expected to begin trading on the NYSE under ticker XTND on September 4, 2026, after the SEC declared the Form S-4 effective on August 11 and all NYSE listing requirements were satisfied.\n\nXTEND arrives at the listing with fresh defense momentum: a multi-year contract worth up to approximately $15 million with a European NATO member's Ministry of Defense, delivery of hundreds of M6F tactical ISR systems to an Asia-Pacific customer, and acceptance of its X-Strike package into the U.S. Department of War's Drone Dominance Program.\n\nThe $60 million is earmarked for working capital and growth as XTEND scales its AI-powered robotics platform, which has over 12,500 systems deployed in more than 30 countries.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"De-SPAC completion: JFB becomes XTEND AI Robotics, trading as XTND on the NYSE from September 4, de-risked by the $60M minimum cash condition and fresh NATO/DoW contract momentum."},"keyFigures":{"customDimensions":{"closing_date":"2026-09-03","new_listing_date":"2026-09-04","systems_deployed":"over 12,500","countries_deployed":"over 30","nato_contract_value":"up to approximately $15 million","minimum_cash_received":60000000,"minimum_cash_condition_satisfied":true}},"quotedText":"Satisfying the minimum cash condition with $60 million in cash received removes one of the last remaining conditions to closing our merger with JFB","namedEntities":{"people":[{"name":"Aviv Shapira","role":"Co-Founder and CEO of XTEND"},{"name":"Tal Horesh","role":"Chief Financial Officer of XTEND"}],"products":["M6F tactical ISR systems","X-Strike lethality package","XTEND Operating System (XOS)"],"companies":[{"name":"JFB Construction Holdings","ticker":"JFB","relationship":"filer / merger participant"},{"name":"XTEND","relationship":"merger partner / surviving operating company"},{"name":"U.S. Department of War","relationship":"government customer (Drone Dominance Program)"},{"name":"European NATO member nation's Ministry of Defense","relationship":"customer"}],"dollarAmounts":[{"amount":"$60 million","context":"cash received satisfying the merger's minimum cash condition"},{"amount":"$15 million","context":"ceiling of multi-year contract with a European NATO member nation's Ministry of Defense"}]},"materialImpact":{"score":5,"reasoning":"This is a full change-of-control business combination: the filer JFB Construction Holdings is being absorbed into XTEND, with a new company name, new ticker (XTND), and a move to the NYSE effective the next trading day. M&A completion is a top-tier event, and satisfaction of the $60M minimum cash condition plus confirmed NYSE listing compliance sharply reduces closing risk."},"tickerRelevance":{"others":[{"ticker":"XTND","relevance":"post-merger ticker of the combined company (NYSE, expected from September 4, 2026)"}],"primary":"JFB"},"globalImportance":42,"audienceRelevance":45,"eventTypeSecondary":["ticker_change","operations_update"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"de-SPAC merger closing with name, ticker, and exchange change","residualRisk":"customary closing conditions remain; trading start not yet effective","sectorWeight":"defense AI robotics and drones — high retail-interest theme","dealCompleteness":"minimum cash condition satisfied; S-4 effective; NYSE listing requirements met"}},"event_type":"m_and_a","event_type_secondary":["ticker_change","operations_update"],"sentiment":"bullish","material_impact_score":5,"narrative":"XTEND and JFB Construction Holdings confirmed $60 million in cash received, satisfying the minimum cash condition to close their business combination, with the transaction on track to close September 3, 2026.\n\nUpon closing, the combined company will be renamed XTEND AI Robotics, Inc. and is expected to begin trading on the NYSE under ticker XTND on September 4, 2026, after the SEC declared the Form S-4 effective on August 11 and all NYSE listing requirements were satisfied.\n\nXTEND arrives at the listing with fresh defense momentum: a multi-year contract worth up to approximately $15 million with a European NATO member's Ministry of Defense, delivery of hundreds of M6F tactical ISR systems to an Asia-Pacific customer, and acceptance of its X-Strike package into the U.S. Department of War's Drone Dominance Program.\n\nThe $60 million is earmarked for working capital and growth as XTEND scales its AI-powered robotics platform, which has over 12,500 systems deployed in more than 30 countries.","key_figures":{"customDimensions":{"closing_date":"2026-09-03","new_listing_date":"2026-09-04","systems_deployed":"over 12,500","countries_deployed":"over 30","nato_contract_value":"up to approximately $15 million","minimum_cash_received":60000000,"minimum_cash_condition_satisfied":true}},"named_entities":{"people":[{"name":"Aviv Shapira","role":"Co-Founder and CEO of XTEND"},{"name":"Tal Horesh","role":"Chief Financial Officer of XTEND"}],"products":["M6F tactical ISR systems","X-Strike lethality package","XTEND Operating System (XOS)"],"companies":[{"name":"JFB Construction Holdings","ticker":"JFB","relationship":"filer / merger participant"},{"name":"XTEND","relationship":"merger partner / surviving operating company"},{"name":"U.S. Department of War","relationship":"government customer (Drone Dominance Program)"},{"name":"European NATO member nation's Ministry of Defense","relationship":"customer"}],"dollarAmounts":[{"amount":"$60 million","context":"cash received satisfying the merger's minimum cash condition"},{"amount":"$15 million","context":"ceiling of multi-year contract with a European NATO member nation's Ministry of Defense"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-03T13:31:23.024Z","global_importance":42,"audience_relevance":45,"importance_components":{"tickerTier":"small-cap","eventGravity":"de-SPAC merger closing with name, ticker, and exchange change","residualRisk":"customary closing conditions remain; trading start not yet effective","sectorWeight":"defense AI robotics and drones — high retail-interest theme","dealCompleteness":"minimum cash condition satisfied; S-4 effective; NYSE listing requirements met"}},"durationMs":413706,"modelName":"glm-4.7"}}