Israeli Drone Company Xtend to List on Nasdaq at $1.5 Billion Valuation Following Merger with JFB Construction Holdings
Israeli drone company Xtend will merge with JFB Construction Holdings, resulting in a Nasdaq listing at a $1.5 billion valuation. The merger includes a $152 million investment from various backers, including Eric Trump. Upon completion, the combined entity will be renamed XTEND AI Robotics and trade under the ticker XTND.
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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.
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