Multi-year contract, with approximately $4.5 million secured for the first year, highlights growing demand for trusted, allied-manufactured autonomous systems, with similar regulatory and procurement shifts creating significant opportunity in the U.S.
XTEND Expected to Begin Trading on the NYSE Following September 8, 2026 Close of Merger
TAMPA, Florida, Aug. 17, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings (Nasdaq: JFB) announced today that XTEND, a leader in AI-powered autonomy and software-defined robotics, has entered into a multi-year contract valued at up to approximately $15 million with the Ministry of Defense of a European NATO member nation, with approximately $4.5 million secured for the first year, as allied governments increasingly seek trusted alternatives to Chinese-made commercial drone platforms.
The contract comes amid a broader shift across NATO and allied markets toward trusted, allied-manufactured autonomous systems and more secure technology supply chains. XTEND believes this transition also represents a significant opportunity in the United States, where federal procurement requirements and restrictions on certain Chinese-manufactured drone systems are increasing demand for trusted alternatives across defense, homeland security and critical infrastructure applications.
Through its global XFAB manufacturing network and proprietary XTEND Operating System (XOS), XTEND provides a secure, scalable approach designed to support these evolving operational, security and supply-chain requirements. XTEND’s broader portfolio includes NDAA-compliant systems fielded with U.S. and allied forces, positioning the Company to address growing demand on both sides of the Atlantic.
“This contract represents another important validation of XTEND’s technology and our ability to support the evolving requirements of allied defense organizations at scale,” said Aviv Shapira, Co-Founder and CEO of XTEND. “Across NATO and allied markets, governments are reassessing the platforms they depend on and placing greater emphasis on trusted technology, secure supply chains and operationally proven systems. We see the same forces increasingly shaping the U.S. market, creating a significant opportunity for trusted alternatives. We believe XTEND is well positioned for this transition — not simply as a provider of individual robotic platforms, but through XOS as an operating system for autonomous operations across a growing ecosystem of systems.”
The contract represents another milestone in XTEND’s strategy to provide defense organizations with access to trusted, mission-proven autonomous systems while expanding the adoption of XOS-powered Physical AI across allied defense markets worldwide. XTEND believes the multi-year nature of the contract further demonstrates the opportunity to deepen its presence across European and allied defense markets as governments modernize autonomous capabilities and strengthen the resilience of critical technology supply chains.
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JFB Construction Holdings (Nasdaq: JFB) and XTEND announced on August 11, 2026 that the SEC has declared effective the Form S-4 registration statement filed in connection with their proposed business combination, clearing the final regulatory milestone ahead of closing. The final information statement/prospectus is being mailed to JFB stockholders of record as of August 11, 2026, and the companies expect the transaction to close on September 8, 2026, subject to customary closing conditions, including NYSE listing approval. Upon closing, the combined company will be renamed XTEND AI Robotics, Inc. and is expected to trade on the NYSE under the ticker "XTND."
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, expected expansion of XTEND’s manufacturing capacity, production capabilities, and European market presence, the expansion of the XOS ecosystem and Marketplace strategy, anticipated demand from NATO members, EU defense organizations, and allied nations, potential additional orders under the multi-year framework agreement, the total potential value of the framework agreement and the timing of orders and deliveries thereunder, XTEND’s ability to capture the global transition away from legacy commercial drone platforms manufactured outside allied supply chains, and the expected timing, completion, and effects of the proposed business combination between JFB Construction Holdings and XTEND, including the anticipated listing of the combined company under the ticker symbol “XTND.”
Such statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those described, including risks relating to the successful integration of acquired businesses, the ability to realize anticipated synergies, changes in demand for robotic systems, the ability to obtain additional orders under framework agreements, the customer’s exercise of options under the framework agreement, risks inherent in government defense contracts, including termination, penalty, verification and security requirements, currency exchange rate fluctuations, the ability of various XTEND solutions to satisfy applicable U.S. regulatory, procurement and compliance requirements, and the ability to satisfy the conditions to closing of the business combination. Neither XTEND nor JFB undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements. For a discussion of the risks and uncertainties that could cause actual results to differ materially, please refer to the registration statement on Form S-4 and other filings with the U.S. Securities and Exchange Commission.
About XTEND
XTEND is a leader in software systems and artificial intelligence-powered robotics, deployed in high-threat, complex operational environments where human exposure carries significant risk. Powered by its proprietary XTEND Operating System (XOS), XTEND’s integrated software and advanced robotic hardware solutions are designed to provide autonomy at the edge. Operating across defense, law enforcement, and private security missions through a platform of robots, drones, and robotic subsystems, XTEND’s open architecture platform facilitates scalability across partners and third-party applications. With over 12,500 systems deployed in over 30 countries, XTEND’s solutions have been validated in five combat zones and operationally deployed by national defense, special-mission units, and security organizations across the globe. Founded in Tel Aviv, Israel, and headquartered in Tampa, Florida, XTEND delivers NDAA-compliant solutions through a global network of regional XFAB manufacturing facilities located in the U.S., the U.K., Singapore, Israel, and Latvia. For more information, visit www.xtend.me.
About JFB Construction Holdings
JFB Construction Holdings (Nasdaq: JFB) is a real estate development and construction company that has provided general contracting and construction management services in 36 U.S. states. For more information, visit the company’s SEC filings at www.sec.gov.
Important Information for Investors and Stockholders
This communication is for informational purposes only and is not intended to, and does not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any issuance or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In connection with the transaction, NewCo and JFB filed a registration statement on Form S-4. Investors and security holders are urged to read the information statement/prospectus or registration statement and any other documents filed with the SEC carefully and in their entirety when they become available. Copies of the documents filed with the SEC by JFB will be available free of charge at www.sec.gov.
JFB Construction Holdings Contact:
CORE IR
Mike Mason
516-222-2560
[email protected]
XTEND Media Contact:
Headline Media
Sarah Small
929-255-1449
[email protected]
XTEND Investor Relations:
MZ North America
Shannon Devine
203-741-8811
[email protected]