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Xtend, an Israeli drone company, is merging with JFB Construction Holdings to trade on Nasdaq with a valuation of $1.5 billion. The merger is backed by a $152 million investment from notable investors, including Eric Trump.

Xtend, recognized as one of 'Globes' most promising startups in 2024, focuses on AI-driven autonomous defense solutions. JFB, a shell company founded in Florida, has seen a significant increase in share price since its IPO.

The merger will result in Xtend shareholders owning approximately 70% of the new entity, expected to be named XTEND AI Robotics, which aims to enhance domestic production capacity in Florida. The transaction is anticipated to close in mid-2026.