Core Viewpoint - JFB Construction Holdings is merging with XTEND, a defense technology company, in an all-stock transaction, aiming to create a leading provider of AI-driven autonomous defense and security solutions [1][7]. Company Overview - JFB Construction Holdings specializes in real estate development and construction, with extensive experience in residential and commercial projects across 36 US states [9][10]. - XTEND is a software-first defense technology company that focuses on autonomous systems for defense, public safety, and private security, utilizing its proprietary XOS operating system [11]. Transaction Details - The merger will result in the formation of a new entity named XTEND AI Robotics, which will be listed on Nasdaq under the ticker "XTND" [1]. - The implied acquisition value of the merger is $1.5 billion, based on the share price in a concurrent private placement [7]. - Upon completion, XTEND shareholders will own approximately 70% and JFB shareholders will own about 30% of XTEND AI Robotics on a fully diluted basis [4]. Strategic Implications - The merger is expected to enhance domestic production capacity at XTEND's facility in Tampa, Florida, and accelerate product delivery to customers in the US, NATO allies, and Asia [2]. - The combined company aims to leverage XTEND's AI-driven operating system and JFB's infrastructure to scale manufacturing and support next-generation defense technology [4]. Leadership Insights - Aviv Shapira, CEO of XTEND, highlighted the growing demand for systems that protect operators in volatile security environments, viewing this merger as a significant market opportunity [3]. - Joseph F. Basile III, CEO of JFB, emphasized the scalability of XTEND's AI-driven platform and the potential to enhance US manufacturing capabilities [4]. Approval and Timeline - The merger has received unanimous approval from the boards of both companies and majority consent from JFB shareholders, with expectations to close the transaction in mid-2026 [5].