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JFB-News
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JFB Construction and Xtend Meet $60M Cash Condition for Business Combination
JFB Construction (JFB) and Xtend announced today that Xtend has satisfied the minimum cash condition to closing of the previously announced business combination, with $60M in cash received. The transaction remains on track to close today, September 3. Upon closing, the combined company will be renamed Xtend AI Robotics and its common stock is expected to begin trading on the New York Stock Exchange under the ticker symbol "XTND" on September 4. Xtend said that in the month since its last update on July 30, the company "has landed new defense contracts, cleared its final regulatory hurdle, and kept shipping hardware around the world."
JFB Construction's Xtend Selected for Phase II Qualifier of U.S. Drone Dominance Program
JFB Construction announced that Xtend was selected as one of a limited group of companies invited to participate in the Phase II Qualifier of the U.S. Department of Defense's Drone Dominance Program. The Drone Dominance Program is a large-scale U.S. defense initiative designed to accelerate the deployment of next-generation autonomous drone technologies across the U.S. military. According to public statements released by the program, the initiative is intended to support the procurement of more than 200,000 drones by 2027 for deployment across complex operational environments.
JFB Construction Secures Seven-Figure Order for Autonomous ISR Systems
JFB Construction has secured a seven-figure order from a defense customer in the Asia-Pacific region for the delivery of compact autonomous intelligence, surveillance, and reconnaissance systems. The order reflects growing international demand for deployable autonomous ISR systems designed for contested and GPS-constrained operational environments.
XTEND Secures $1.67M Contract with Israeli Ministry of Defense
JFB Construction announces that XTEND has secured a contract with the Israeli Ministry of Defense, IMOD, to supply drone systems and services, with a total contract value of approximately $1.67M. Delivery is expected during 2026. "This agreement reflects the evolving needs of modern defense forces for systems that can be quickly deployed and used in operational environments," said Aviv Shapira, Co-founder and CEO of XTEND. "XTEND is currently engaged with multiple defense customers across 30 countries, with additional contracts anticipated in 2026 , including larger-scale programs."
Xtend Receives U.S. Army Approval for High-Voltage Safety System
JFB Construction and Xtend announced that Xtend has received a limited operational assessment approval from the U.S. Army Fuze Safety Board for its high-voltage safety and arming system for FPV attack drones. Xtend is the first U.S. company to receive this assessment, demonstrating the company's commitment to developing battle-proven, AI-driven robotic systems that keep human operators out of harm's way while maintaining precise control in complex missions. The company said, "This milestone comes as the broader market for tactical strike and defense systems continues to expand. U.S. defense budgets for these programs are projected to exceed $100 billion annually in the coming years, while loitering munitions, launched effects, and related attritable unmanned strike systems have already received more than $1.5 billion in combined Procurement and research, development, test and evaluation funding in 2026. Scaling operational efficiently while maintaining safety and control has become a central challenge for military organizations expanding their FPV attack drone capabilities and usage. Xtend's high-voltage safety system is designed to provide a scalable solution by moving critical safety and arming functions into software, making the system easier to use, safer to operate and simpler to scale across units without added operational complexity."
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