AI-powered robotics company targets $1.5B valuation in U.S. listing
Israeli drone and robotics company XTEND has announced plans to go public through a reverse merger with U.S.-listed JFB Construction Holdings, in a transaction that values the combined company at approximately $1.5 billion. The deal includes a strategic investment round backed by several investors, including Eric Trump.
The companies stated that the merger has been unanimously approved by both boards and is expected to close in mid-2026, subject to customary conditions. Upon completion, the combined entity will be renamed XTEND AI Robotics and is expected to trade on the Nasdaq under the ticker symbol “XTND.” XTEND shareholders are expected to hold roughly 70% of the combined company, with JFB shareholders owning the remaining 30% on a fully diluted basis.
XTEND develops AI-powered drone systems and autonomous robotics platforms designed for defense, public safety, and security missions. The company’s proprietary operating system, XOS, enables human-guided autonomous control of drones and robotic systems in complex environments. XTEND says its platforms are designed to allow operators to perform remote missions while minimizing direct exposure to risk.
DoD Contracts and Drone Dominance Program
The company has established ties within the U.S. defense ecosystem. XTEND has received contracts from the United States Department of Defense and has participated in Pentagon initiatives aimed at accelerating the deployment of advanced unmanned systems. Reporting indicates that XTEND has secured multimillion-dollar agreements and has been selected for participation in the Department of Defense’s Drone Dominance Program, which focuses on rapidly fielding low-cost, scalable drone technologies for operational use.
In addition to U.S. defense engagement, XTEND has reported operational use of its systems in active security environments. The company positions its technology as enabling precise remote operations through a combination of AI autonomy and human oversight.
Reverse Merger
The transaction includes approximately $152 million in strategic investment commitments from a group of investors supporting the public listing. Eric Trump is among those participating in the financing round tied to the merger.
The reverse merger structure allows XTEND to access U.S. capital markets without pursuing a traditional initial public offering. Reverse mergers have become an alternative path for growth-stage technology companies seeking faster entry into public markets.
If completed as planned, the listing would position XTEND among a growing group of defense-focused drone and robotics firms trading on U.S. exchanges. The move also reflects continued investor interest in autonomous systems companies with established government contracts and defense-sector traction.
The companies have indicated that further details regarding leadership structure and post-merger governance will be released closer to the anticipated closing date in 2026.
Read more:
- XTEND Secures Multi-Million-Dollar DoD Contract for AI-Enabled One-Way Attack Drone Systems
- XTEND Secures $30M Extension to Complete $70M Series B Funding
- XTEND Secures $8.8M U.S. Department of Defense Contract for AI-Driven Tactical Drones
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
TWITTER:@spaldingbarker
Subscribe to DroneLife here.